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(Daily 01.07.2022): EUAs rose to a new six-week high on Thursday due to persistent steady buying
OPEC+ reiterated that it will only boost output in August by as much as it had previously indicated amid tight global supplies, contributing to a decline in oil prices on Thursday. Thus, Brent crude fell by 1.3% to settle at $114.81 a barrel. WTI crude decreased by 3.7% to $105.76 per barrel.
read more... 01/07/2022
Daily (22.06.2022): British gas prices saw a relentless rise on Tuesday amid reduced flows from Russia, outages in the Norwegian production
Crude oil prices increased marginally on Tuesday amid continued supply concerns and unwillingness among OPEC nations to increase output noticeably. However, the gains were limited by coronavirus measures in China and fears of a new global recession. Hence, Brent crude rose by 0.5%, to settle at $114.65 a barrel. US WTI crude added 0.7% to $109.52 a barrel.
read more... 22/06/2022
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OPEC Considers Suspending Russia From Oil Deal
Some OPEC members are mulling over the possibility of suspending Russia from the OPEC+ deal that limits the amount of crude oil that each member can produce, the Wall Street Journal reported on Tuesday, citing OPEC delegates.
read more... 02/06/2022
Daily (13.04.2022): Oil prices surged over 6% on Tuesday as Opec is cautious about replacing Russian supply
Crude oil prices rebounded sharply on Tuesday following Opec’s declaration that it would not boost output to levels good enough to replace Russian oil supply. Easing lockdown measures in Shanghai lent further support. Hence, Brent crude surged by 6.3% to settle at $104.64 a barrel. U.S. WTI crude settled 6.7% higher at $100.60 per barrel. Both contracts lost about 4% on Monday.
read more... 13/04/2022
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Daily (01.04.2022): Oil prices slumped on Thursday amid US pledge to release oil reserves
Crude oil prices dropped sharply on Thursday after President Joe Biden unveiled the largest ever release from the US Strategic Petroleum Reserve and called on oil companies to increase drilling to boost supply. This news outweighed OPEC+ saying it would continue with only a gradual increase in production. Hence, Brent crude ended the day at $107.91, falling by 4.9% day-on-day. U.S. crude for May delivery settled 7% lower at $100.28 per barrel.
read more... 01/04/2022