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Daily (31.01.2019): British spot gas price tumbled by 1.6% on Wednesday due to an oversupplied system
Oil prices were up on Wednesday after U.S. government data indicated a lower-than-expected rise in crude oil stockpiles. Moreover, U.S. exports sanctions against Venezuelan exports and a decline in gasoline inventories supported prices. Nevertheless, the trade dispute between the United States and China is still weighing on the market. Brent crude rose 0.5% higher to close at 61.65 USD/bbl, while WTI crude surged by 1.7% to settle at 54.23 USD/bbl.
read more... 31/01/2019
Daily (30.01.2019): Oil prices climbed back on Tuesday following U.S sanctions on Venezuela
An upward trend was noticed in the oil markets on Tuesday, as U.S. sanctions on state-owned Venezuelan oil company PDVSA could influence global supply. On the other side, concerns over global economy might still put a lid on prices. Brent crude rose by 2.3% to 61.32 USD/bbl, while WTI crude was up by 2.5% settling at 53.31 USD/bbl.
read more... 30/01/2019
Daily (29.01.2019): Brent crude dropped by nearly 3% on rising U.S. oil production and declining economic growth
Oil prices plunged on Monday, reaching its lowest level in the last 10 days after an increase in U.S. crude drilling production, and persisting concerns over a global economic decline. According to Reuters, U.S. drillers added 10 oil rigs last week expanding the market tendency towards oversupply. Brent crude dropped by 2.8% closing at 59.93 USD/bbl, while WTI crude was down by 3.2% settling at 51.99 USD/bbl.
read more... 29/01/2019
Daily (28.01.2019): European spot power prices plunged by over 20% due to milder weather and lower consumption
Oil prices were slightly up on Friday, as Venezuelan exports could face potential sanctions from U.S. amid political unrest in Caracas, raising the prospect of reduced crude supply. However, worries over U.S.-China trade dispute and growing U.S. fuel stocks put a lid on prices. As a result, Brent crude added 0.9% to settle at $61.64 a barrel, while WTI futures rose 1.1% to $53.69 a barrel.
read more... 28/01/2019
Daily (25.01.2019): Energy markets seen in a bearish trend on Thursday
Thursday saw a mixed evolution in oil prices. Continuous concerns over global economic slowdown and the unexpected rise in U.S. crude inventories weighed slightly on Brent spot, which ended down at $61.09 a barrel. However, WTI futures rose by 1% to $53.13 a barrel, supported by OPEC-led output cuts and U.S. threats to impose sanctions on OPEC member Venezuela.
read more... 25/01/2019