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Daily (10.06.2020): British near-term gas prices lost ground on Tuesday despite a cut in Norway gas flows
Crude oil prices edged higher on Tuesday as the extension of OPEC+ output cuts on Saturday counterbalanced worries that resurgent coronavirus cases in the US could hit the oil demand recovery, which is still fragile. Hence, Brent crude for August delivery rose by 38 cents, or 0.9%, to settle at $41.18 a barrel. At the same time, U.S. WTI crude gained 75 cents, or 2%, to end at $38.94 a barrel.
read more... 10/06/2020
Daily (09.06.2020): European spot electricity prices returned at pre-lockdown levels on Monday amid higher demand, lower renewables and nuclear output
Crude oil futures lost ground on Monday despite OPEC+ cuts as traders switched their focus on the announce that top producer Saudi Arabia and Gulf producers are not willing to extend cuts after June. Hence, Brent crude for August delivery fell by $1.50, or 3.6%, to settle at $40.80 a barrel. At the same time, U.S. WTI crude shed by $1.36, or 3.4%, to end at $38.19 a barrel.
read more... 09/06/2020
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Daily (08.06.2020): Crude oil futures settled at 3-month highs on Friday on U.S. jobless drop, OPEC meeting hopes
Crude oil futures rallied on Friday, to close at their highest level since March 6, spurred by AN OPTIMISTIC U.S. jobs report and ON hopes that OPEC+ producers will extend its production cuts for another month at its virtual meeting on Saturday.
read more... 08/06/2020
Daily (05.06.2020): Oil prices steady on Thursday despite OPEC meeting uncertainty
Crude oil futures were little changed on Thursday as the delay of the OPEC+ meeting added uncertainty to whether the producers would agree to extend production cuts by 9.7 million bpd into the second half of 2020. Hence, Brent crude for August delivery rose by 0.5% to settle at $39.99 a barrel, continuing to push for $40 per barrel. At the same time, U.S. WTI crude added 0.3% to close at $37.41 a barrel.
read more... 05/06/2020
Daily (04.06.2020) NBP spot soared by 13.6% on Wednesday as low wind output boosted gas-for-power demand
Crude oil prices stretched gains on Wednesday, on a potential new agreement between OPEC and its allies to cut crude supplies. Nevertheless, a weekly increase in U.S crude inventories supported the bullish trend. As a result, Brent crude increased by 0.6% to $39.79 a barrel. Similarly, WTI futures traded 1.3% higher at $37.29 a barrel.
read more... 04/06/2020