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Daily (12.09.2023): German spot power surged dramatically by 44% due to the initiation of labor strikes at Chevron's LNG production facilities
Crude oil prices remained relatively steady as they appeared to have reached a point of equilibrium due to the combination of declining demand and reduced OPEC production. Hence, Brent crude traded at $90.64 a barrel. Meanwhile, U.S. WTI edged 0.3% lower at $87.29 a barrel.
read more... 12/09/2023
Daily (08.09.2023): British gas prices turned bullish on Thursday amid concerns about strike actions in Australia and limited LNG supply
Crude oil prices lost ground on Thursday due to concerns about economic growth in both the United States and China, which overshadowed the impact of extended supply cuts by Saudi Arabia and Russia. Hence, Brent crude traded around 1% lower at $89.92 a barrel. Meanwhile, U.S. WTI crude fell by 0.8% to end at $86.87 a barrel.
read more... 08/09/2023
Daily (07.09.2023): Gas prices retreated on Wednesday due to postponed strikes at Australian LNG plants
On Wednesday, crude oil prices edged higher as traders expected reductions in U.S. crude due to ongoing production cuts in both Saudi Arabia and Russia. Hence, Brent crude rose by 0.6% to $90.60 a barrel, while WTI crude increased by about 1% to $87.54 a barrel.
read more... 07/09/2023
Daily (06.09.2023): Oil prices hiked above $90 per barrel after Saudi Arabia and Russia extended their supply curbs until December 2023
Crude oil prices increased on Tuesday amid announcement that Saudi Arabia and Russia will extend production cuts until December 2023. Stronger manufacturing data from China lent further support on price. Hence, Brent crude traded around 1% higher at $90.04 a barrel. Meanwhile, U.S. WTI crude rose by 0.9% to end at $86.69 a barrel.
read more... 06/09/2023
Daily (05.09.2023): Oil prices surged close to the $90 per barrel threshold, marking their highest point since November 2022
Crude oil prices rose on Monday, to hit the highest levels since November 2022 amid announcement that Saudi Arabia and Russia will extend production cuts. Thus, Brent crude traded 0.5% higher at $89.00 a barrel. Meanwhile, U.S. WTI crude edged 0.4% higher at $85.93 a barrel.
read more... 05/09/2023