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Daily (10.01.2019): WTI crude jumped by over 5% on U.S.-China trade negotiations optimism
Oil prices soared on Wednesday on optimism that the U.S.-China trade talks extended into the extra third day could ease tensions. The ongoing crude output cuts by OPEC, aimed at reducing an emerging glut, also supported prices. Brent crude rose sharply by 4.7% to $61.44 a barrel, while WTI futures surged by 5.2% to $52.36 a barrel.
read more... 10/01/2019
Turkey resumes oil import from Iran
Turkey has resumed imports of Iranian crude oil under the U.S. sanctions waiver, according to the trading and shipping sources.
read more... 10/01/2019
Daily (09.01.2019): German spot power contract was 15.9% higher on Tuesday on low wind output
The strong upward evolution in oil prices on Tuesday was caused mainly by OPEC-led crude production cuts. The bullish trend was also backed by signs of progress in U.S.-China trade talks. Officials of the world’s two biggest economies expressed optimism on resolving the dispute. Brent crude soared by 2.4% to $58.72 a barrel, while WTI crude jumped by 2.6% to $49.78 a barrel.
read more... 09/01/2019
Daily (08.01.2019): NBP spot plummeted by 6.5% on Monday due to an oversupplied system
Oil prices surged for the fifth consecutive day on Monday due to cuts in production by OPEC and its allies, as well as the recovery in equity markets. While Brent crude edged 0.5% higher at $57.33 a barrel, WTI crude gained 1.2% to close at $48.52 a barrel. Gains were limited by reduced crude inventories in the US.
read more... 08/01/2019
Daily (04.01.2019): Brent crude surged by around 2% on Thursday due to OPEC production cuts
Oil prices continued the upward trend in a volatile session on Thursday. Saudi Arabia’s production cuts under OPEC agreement tempered the concerns about a supply glut. Moreover, OPEC is set to support the market through more-than-planned output cuts by the end of January. Consequently, Brent crude rose by 1.9% to $55.95 a barrel, while WTI crude was 1.2% up at $47.09 a barrel.
read more... 04/01/2019