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Daily (01.12.2020): Oil prices pulled back from record gains amid OPEC uncertainty about the extension of output cuts, but notched a 27% gain for November
Crude oil futures retreated from multi-month highs on Monday as OPEC+ postpones output cut decision to Thursday. Hence, Brent crude declined by 1.2% to settle at $47.59 a barrel. Meanwhile, U.S. WTI crude lost 0.4% to close at $45.34 a barrel. For November, both contracts rallied by around 27%, their biggest monthly gains since May on hopes of upcoming vaccines for COVID-19 that would help economic activity and oil demand resume.
read more... 01/12/2020
Daily (30.11.2020): Oil prices edged higher on Friday ahead of the year-end OPEC+ summit
Oil prices moved slightly higher on Friday amid expectations for the year-end OPEC+ summit. Despite a calm market, Brent crude ended 0.8% higher at $48.18 a barrel. WTI oil gained 1.3% to close at $45.53 a barrel, a day after Thanksgiving in the US.
read more... 30/11/2020
Daily (26.11.2020): European power prices soared on Wednesday amid colder weather outlook and lower wind generation
Crude prices hit an eight-month high on Wednesday, supported by a drop in US oil stocks, progress on the coronavirus vaccine and optimism ahead of the next OPEC+ summit. As such, Brent crude rose by 1.6% to $48.61 a barrel, while WTI oil ended 1.8% higher at $45.71 a barrel.
read more... 26/11/2020
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Daily (20.11.2020): UK forward gas prices lost around 4% on Thursday due to low demand and strong supply
Oil prices ended slightly down on Thursday, in the face of the worsening Covid-19 epidemic, but also due to tensions over quotas within OPEC+. Hence, Brent crude slipped by 0.3% to settle at $44.20 per barrel. U.S. WTI crude lost 0.2% to close at $41.74 per barrel.
read more... 20/11/2020
Daily (19.11.2020): EUAs increased by 2% on Wednesday influenced by news that the start of the 2021 auctions would be delayed
Wednesday, OPEC has reconfirmed its intentions to continue cutting production, thus supporting crude oil prices amid Covid-19 and demand worries. As a result, Brent crude for January delivery closed 1.4% up at $44.34 a barrel, while WTI crude edged 0.9% higher at $41.82 a barrel.
read more... 19/11/2020