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Daily (28.05.2019): Brent crude climbed by 2.1% on Monday, due to ongoing tensions in the Middle East and OPEC-led supply cuts
Oil prices extended gains on Monday, supported by ongoing tensions in the Middle East and OPEC-led supply cuts. Brent crude surged by 2.1% to $70.11 a barrel, while WTI futures increased by 0.9% to $59.13 a barrel.
read more... 28/05/2019
Daily (23.05.2019): European carbon prices spiked by nearly 4% on Wednesday, on looming tight supply and higher gas prices
Crude oil prices dropped on Wednesday, after data showed that U.S. crude inventories surged unexpectedly amplifying concerns over a weaker oil demand raised by the lengthy U.S.-China tariff dispute. WTI futures closed 2.7% lower at 61.42 USD/bbl, in tandem with falling equities. On the other side, rising tensions between Washington and Iran coupled with OPEC’s intentions to continue output cuts helped limit the fall in prices. As a result, Brent crude price dropped by 1.7% to 70.99 USD/bbl.
read more... 23/05/2019
Daily (22.05.2019): NBP spot ended down by nearly 3% on Tuesday due to higher Norwegian flows
The outlook of a tighter supply fuelled by the growing tensions in the Middle East and OPEC’s constant commitment to cut output supported oil prices on Tuesday. Meanwhile, gains were capped by the lengthy U.S.-China trade dispute and its bearish impact on the global economic growth. Brent crude price edged higher by 0.3% to 72.18 USD/bbl, while WTI futures were only 0.1% up at 63.13 USD/bbl.
read more... 22/05/2019
Daily (21.05.2019): European spot power prices soared by around 16% due to firmer consumption
Oil prices diverged on Monday. OPEC’s intention to maintain output cuts coupled with the escalating tensions in the Middle East sent WTI futures up by 0.5% at 63.10 USD/bbl. Meanwhile, Brent crude lost 0.3% to settle at 71.97 USD/bbl, influenced by the high level of global crude oil inventories.
read more... 21/05/2019
Russia Oil Production Dips
Russia’s crude oil production averaged 11.16 million bpd in the first twelve days of May, Oil Price reported on Tuesday, citing two industry sources, which means that Moscow is finally within its cap under the OPEC+ deal.
read more... 15/05/2019