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Oil prices extend losses as OPEC uncertainty lingers
Oil prices fell for a third day on Thursday amid uncertainty over supply after the collapse this week of talks among major producers which could potentially cause the current output agreement to be abandoned.
read more... 09/07/2021
Daily (09.07.2021): Oil prices moved upwards on Thursday amid bigger than expected drop in U.S. inventories, OPEC impasse
Crude oil prices rebounded on Thursday amid much bigger drop than expected in U.S. crude and gasoline inventories, but uncertainty about global supplies continued to limit upside following a dispute between OPEC heavyweights over production plans. Hence, Brent crude rose by 69 cents, or 0.9%, to settle at $74.12 a barrel. U.S. WTI crude added 74 cents, or 1%, to close at $72.94 a barrel on the NYMEX.
read more... 09/07/2021
Daily (08.07.2021): Carbon EUAs lost 2.6% on Wednesday, pressured by sell-off and free allowance allocations
Oil prices fell on Wednesday, amid continued concerns over failed negotiations on crude production by OPEC+ members. As such, Brent oil ended 1.5% lower at $73.43 a barrel, and WTI crude dropped by 1.6% to $72.20 a barrel.
read more... 08/07/2021
Daily (07.07.2021): Oil prices slumped by over 3% on Tuesday after OPEC producers canceled meeting over supply dispute
Crude oil prices slumped on Tuesday after OPEC producers failed to agree a supply increase. On Monday, ministers from OPEC canceled a meeting after failing to resolve a dispute between the largest producer Saudi Arabia and the United Arab Emirates. Hence, Brent crude slumped by $2.63 a barrel, or 3.4%, to settle at $74.53 a barrel. U.S. WTI crude tumbled by $1.79, or 2.4%, to end at $73.37 a barrel.
read more... 07/07/2021
Daily (06.07.2021): Brent crude neared 3-year high above $77 on Monday amid OPEC impasse, while European coal price marked a new decade high
Oil prices climbed on Monday, with Brent crude trading above $77 a barrel, the highest level since October 2018 following the indefinite postponement of the much-expected meeting of OPEC and non-OPEC ministers. Hence, Brent crude rose by 1.3% to settle at $77.16 a barrel. U.S. WTI crude settled at $76.34 a barrel, posting a 4.7% rise day-on-day.
read more... 06/07/2021