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Daily (21.12.2020): A 20% drop in German and French spot power prices on mild and windy weather outlook
Progress related to the stimulus package in the United States lent support to oil prices on Friday. As such, Brent crude moved 1.5% higher to trade at $52.26 a barrel, while WTI oil rose by 1.5%, or 74 cents, to $49.10 a barrel.
read more... 21/12/2020
Daily (18.12.2020): EUAs at around 32€ highs on Thursday due to tighter EU climate targets and short-auction supply
Crude oil prices continued their upward trend on Thursday, spurred by a larger-than-expected U.S. crude stockpile draw and by optimism about a coronavirus relief package in the United States and record-breaking refining demand in China and India. Hence, Brent crude rose by 42 cents, or 0.8%, to end at $51.50 a barrel. Meanwhile, WTI crude settled 54 cents, or 1.1%, higher at $48.36 per barrel. Both contracts closed again at nine-month highs.
read more... 18/12/2020
Daily (17.12.2020): A drop in US crude inventories on Wednesday lent support to oil prices
On Wednesday, the EIA reported a drop in crude stocks in the United States, thus lending support to oil prices. As a result, Brent crude increased by 0.6% to $51.08 a barrel, while WTI oil edged 0.4% higher at $47.82 a barrel.
read more... 17/12/2020
Daily (16.12.2020): EUAs extended record high on Tuesday in tandem with a bullish energy complex
Crude oil prices continued to gain ground on Tuesday, boosted by progress on vaccine rollout that helped ease market concerns over a spiral virus outbreak. Hopes for a new stimulus package in the United States added further support to oil prices. Hence, Brent crude for February delivery rose by 47 cents, or 0.9%, to close at $50.76 per barrel. Meanwhile, U.S. WTI crude for January delivery increased by 63 cent, or 1.3%, to settle at $47.62 a barrel. Both contracts posted their highest levels in nine months.
read more... 16/12/2020
Daily (15.12.2020): Oil prices hit their highest levels in nine-months on Monday amid vaccine rollout
Crude oil futures gained ground on Monday despite OPEC cutting its forecast for 2021 growth in oil demand, with traders focusing over the start of the coronavirus vaccine campaign in the United States. Hence, Brent crude for February delivery rose by 32 cents, or 0.6%, to settle at $50.29 a barrel. Meanwhile, U.S. WTI crude for January delivery increased by 42 cents, or 0.9%, to end at $46.99 a barrel. Both contracts climbed to their highest level in nine months.
read more... 15/12/2020