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Daily (14.03.2023): Oil prices fell by about 2% on Monday amid bank collapse jitters
Crude oil prices decreased on Monday following last week’s bank collapse in the US, which caused an overall sentiment of concern on the global financial markets. Hence, Brent crude declined by $2.01, or 2.4%, to $80.77 per barrel. Meanwhile, WTI crude dropped by $1.88, or 2.5%, to settle at $74.80 per barrel.
read more... 14/03/2023
Daily (13.03.2023): Forward electricity prices increased sharply on Friday amid escalated concerns over the nuclear availability in France
Oil prices rose on Friday on the back of a better-than-expected U.S. employment indicator that suggested less severe than expected monetary tightening. As a result, Brent crude ended 1.5% higher at $82.78 a barrel.
read more... 13/03/2023
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Daily (10.03.2023): Concerns over French nuclear generation contributed to the rise in forward electricity prices on Thursday
On Thursday, oil prices declined as traders continued to worry about the effects of excessive monetary tightening on the economy rather than the market fundamentals. As a result, Brent crude ended $1.07, or 1.3%, down at $81.99 a barrel.
read more... 10/03/2023
Daily (09.03.2023): Oil prices lost ground on Wednesday on increased concerns over the impact of a U.S rate hike
On Wednesday, although the U.S. Energy Information Agency's (EIA) announced a decline in U.S. commercial crude oil reserves in the week ending March 3, after ten consecutive weeks of increases, oil prices lost ground as concerns grew stronger over the impact of a U.S rate hike. Brent crude edged 0.8% lower, to settle at $82.66 a barrel.
read more... 09/03/2023
Daily (08.03.2023): Ongoing strikes in France lifted the French forward power prices by over 4.4%
Oil prices lost momentum on Tuesday as the Chinese National People’s Congress estimate a lower-than-expected GDP growth target of around 5%, hence this could cause a fall in oil demand. A rise in US oil output also weighed on prices. Hence, Brent crude fell by 3.4% to settle at $83.29 a barrel.
read more... 08/03/2023