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Daily (09.12.2020): Oil prices ended rather steady on Tuesday as surging COVID-19 cases dampened other positive news
Crude oil futures posted little changes on Tuesday as the potential for expanded lockdown measures countered news about the beginning of vaccination programs across Western economies this week and EIA’s forecast of higher oil prices in 2021. Hence, Brent crude added 0.1% to end rather flat at $48.84 a barrel. Meanwhile, WTI crude settled at $45.60 a barrel, posting a 0.4% loss day-on-day.
read more... 09/12/2020
Daily (16.10.2020): EUAs close to a four-month low on Thursday due to Brexit uncertainty and weak auction demand
Oil prices edged lower on Thursday as OPEC sees a gloomy outlook on demand for black gold. Losses, however, have been limited, as the EIA report showed a larger-than-expected drop in crude stocks in the United States. Brent crude for December delivery traded 0.4% lower at $43.16 a barrel, while WTI oil slipped by 0.2% to $40.96 a barrel.
read more... 16/10/2020
Daily (13.08.2020): Oil prices hit their highest level since March 2020
Oil prices jumped on Wednesday amid a drop of 4.5 million barrels in U.S. crude inventories for a third week in a row, according to EIA report. However, the recently increase in coronavirus cases around the world limited their gains. Hence, Brent crude added 93 cents, or 2.1% to settle at $45.43 a barrel. Similarly, WTI futures rose by around 2.6% to end at 42.67.
read more... 13/08/2020
Daily (11.06.2020): U.S. WTI crude gained 1.7% on Wednesday despite an unprecedented level of U.S. crude inventories
Crude oil prices gained ground on Wednesday despite news that crude oil stockpiles rose by 5.7 million barrels last week, as shown by EIA. Hence, Brent crude for August delivery rose by 55 cents, or 1.3%, to settle at $41.73 a barrel. At the same time, U.S. WTI crude gained 66 cents, or 1.7%, to end at $39.60 after falling more than 2% in the session.
read more... 11/06/2020
Daily (01.06.2020): WTI crude hovered above $35 a barrel on Friday, gaining 6.7% for the week
Crude oil futures gained ground in the last trading day of the month after the release of the EIA’s report showing a further drop in oil well drilling in the United States. Hence, Brent crude for July delivery rose slightly to $35.33 a barrel, while, the more active August contract settled at $37.84, edging $1.81 higher, or roughly 5%. WTI crude for July delivery settled at $35.49 a barrel, surging $2.24, or 5.3%.
read more... 01/06/2020