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Daily (21.10.2020): WTI crude at its highest level in seven weeks on Tuesday amid U.S. stimulus deal hopes
Crude oil futures rebounded on Tuesday after four sessions of losses, with WTI crude hitting its highest settlement in almost seven weeks amid expectations for a weekly decline in U.S. crude stockpiles. The resumption of U.S. stimulus negotiations added further upward momentum on the oil markets. Hence, Brent crude for December delivery rose by 54 cents, or 1.3%, to settle at $43.16 a barrel. Meanwhile, WTI crude for November delivery soared by 64 cents, or 1.6%, to end at $41.70 a barrel.
read more... 21/10/2020
ConocoPhillips Becomes First Major U.S. Oil Firm To Pledge Emission Cuts
U.S. oil and gas producer ConocoPhillips unveiled on Monday a target to reduce emissions from its operations to net zero by 2045-2055 in a first announcement from a major American oil firm setting specific targets to cut its carbon footprint.
read more... 20/10/2020
Daily (09.10.2020): NBP gas for month-ahead delivery hit an almost 10-month peak on Thursday tracking higher oil and LNG prices
Crude oil futures hit their highest level in more than a month on Thursday as Hurricane Delta forces paralyzed nearly 92% of crude output in the Gulf of Mexico, while Saudi Arabia envisages postponing OPEC plans to boost output. The prospect of more production outages in the North Sea due to a workers’ strike added further support to oil markets. Hence, Brent crude for December delivery jumped by $1.35, or 3.2% to settle at $43.34 a barrel. Meanwhile, U.S. WTI crude surged by $1.24 cents, or 3.1%, to end at $41.19 a barrel.
read more... 09/10/2020
Daily (07.10.2020): Oil prices continued to climb on Tuesday amid widening strike in Norway, hurricane supply disruptions
Crude oil futures surged over 3% on Tuesday, spurred by widening strike of oil workers in Norway, and the start of evacuations from oil platforms in the Gulf of Mexico ahead of the expected arrival of Hurricane Delta. Additionally, the return of the president to the White House to continue his coronavirus treatment triggered a general rally in asset markets. Hence, Brent crude for December delivery soared by $1.36 a barrel, or 3.3%, to settle at $42.65 a barrel. Meanwhile, U.S. WTI crude for November delivery settled at $40.67 a barrel, surging by $1.45, or 3.7%.
read more... 07/10/2020
Norway gas exports to Europe rise amid strike as other fields ramp up
European gas markets are currently well-supplied, with plenty of gas in storage. Prices are at seasonal lows due to the impact of mild winters, plentiful LNG supply and reduced energy demand during the coronavirus pandemic
read more... 07/10/2020