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Daily (21.08.2020): UK gas prices posted strong weekly gains due to higher LNG and U.S. gas prices
Crude oil futures lost ground on Thursday, pressured by downbeat comments from the U.S. Fed and OPEC+ on the demand outlook due to the coronavirus, while U.S. unemployment claims unexpectedly rose last week. Hence, Brent crude fell by 47 cents, or 1%, to settle at $44.90 a barrel. At the same time, U.S. WTI crude ended the session 11 cents, or 0.3%, lower at $42.82 a barrel.
read more... 21/08/2020
Daily (20.08.2020): Higher US LNG prices continue to boost UK forward gas prices
Crude oil prices lost momentum on Wednesday, as a drop in US crude inventories was outweighed by renewed worries over the second wave of the Covid-19 pandemics. Consequently, Brent crude decreased by 0.2% to $45.37 a barrel, while WTI futures edged 0.1% higher at $42.93 a barrel.
read more... 20/08/2020
Daily (19.08.2020): NBP spot at a 5-month high on Tuesday amid higher LNG prices globally
Crude oil futures barely changed on Tuesday as the market participants watched the upcoming U.S. government data expected to show a fourth straight weekly drop in stockpiles. However, OPEC+ high compliance with supply cuts in July added little support to oil prices. Consequently, Brent crude rose by 0.2% to settle at $45.46 a barrel. At the same time, U.S. WTI crude remained unchanged at $42.89 a barrel.
read more... 19/08/2020
Daily (18.08.2020): British September gas soared to multi-month highs on Monday amid stronger LNG prices worldwide
Strong OPEC+ compliance with their production cut deal in July and reports that China would boost U.S. crude imports as a first phase of the two nations’ trade deal lifted oil prices on Monday. Hence, Brent crude rose by 57 cents, or 1.3%, to settle at $45.37 a barrel. Meanwhile, U.S. WTI crude edged 88 cents higher, or 2.1 %, to close at $42.41 a barrel.
read more... 18/08/2020
Daily (17.08.20): A sharp drop in German spot power price due to cooler temperatures
A slow recovery in demand and strong supply weighed on oil prices on Friday. Brent crude closed at $44.80 a barrel, falling by 16 cents, or 0.4%. Meanwhile, the American WTI lost 23 cents, or 0.5% to end at $42.01 a barrel.
read more... 17/08/2020