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Daily (05.03.2024): Gas and carbon prices extended their gains on Monday amid cold weather forecasts and reduced LNG flows
Oil prices retreated on Monday despite recent production cuts extensions declared by the OPEC+ members, as worries about demand outweighed. Consequently, the Brent crude oil fell by 1% to settle at $82.80 a barrel, while WTI crude tumbled by 1.5% to stand at $78.74 a barrel.
read more... 05/03/2024
Daily (18.01.2024): European carbon prices hit their lowest point in over two years on Wednesday amid intense selling pressure
Oil prices ended mixed for the second session in row on Wednesday as optimistic OPEC predictions tempered worries about worldwide demand for oil. As a result, Brent crude retreated by about 1% to settle at $77.69, while WTI crude edged 0.2% higher to end at $72.56 per barrel.
read more... 18/01/2024
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OPEC’s Influence on Oil Prices To Remain Significant In 2024
At their latest meeting in early December, the Organization of Petroleum Exporting Countries and its partners, led by Russia, agreed to reduce their combined production of crude oil to some 2.2 million barrels daily.
read more... 02/01/2024
Daily (22.12.2023): Geopolitical situation driven by Red Sea shipping disruptions boosted forward gas and electricity prices on Thursday
On Thursday, oil prices experienced a decline, influenced by concerns that the demand for oil could be undermined in the coming year by the possibility of an economic recession. Additionally, the downward pressure on prices was exacerbated by Angola's announcement of its withdrawal from the OPEC. As a result, Brent crude closed at $79.39, and WTI crude settled at $73.89 per barrel, both contracts edging around 0.4% lower.
read more... 22/12/2023
Daily (11.12.2023): Oil prices rebounded by over 2% on Friday following Russo-Saudi meeting
Oil prices rebounded on Friday following a meeting between Russian President and Saudi Crown Prince, where they emphasized the importance of energy cooperation and the need for all countries to adhere to the OPEC+ agreement. Consequently, Brent crude ended at $75.84 per barrel, while WTI crude closed at $71.23 per barrel, both contracts jumping by more than 2%.
read more... 11/12/2023