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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
Daily (06.10.2020): Oil prices settled over 5% higher on Monday amid reports of Trump’s improving health, lower supply from Norway
Crude oil prices rebounded over 5% on Monday, spurred by the state of health of Donald Trump, who announced that he would be released from the hospital at the end of the afternoon. Another round of stimulus in the U.S. and curtailing crude output in Norway due to a monitored strike also supported oil prices. Hence, Brent crude for December delivery soared by $2.02, or 5.1%, to settle at $41.29 per barrel, notching its first gain after four consecutive daily declines. Meanwhile, U.S. WTI crude for November delivery surged by $2.17, or 5.9%, to close at $39.22 per barrel, registering its first rise in three sessions.
read more... 06/10/2020
Daily (30.09.2020): Oil prices dropped over 3% on Tuesday amid lingering demand concerns
Crude oil futures retreated on Tuesday, sending global benchmark crude prices to their lowest settlement in two weeks amid gloomy outlook for fuel demand as the world is grappling with a new wave of coronavirus infections. Hence, Brent crude for November delivery shed by $1.40, or 3.3%, to settle at $41.03 a barrel. At the same time, U.S. WTI crude fell by $1.31, or 3.2%, to end at $39.29 per barrel.
read more... 30/09/2020
Daily (23.09.2020): European carbon prices surged by over 5% on Tuesday amid compliance buying and speculative short-covering
Crude oil prices recovered slightly from the steepest one-day loss in almost two weeks following the equities’ advance and amid expectations for a second decrease on U.S. crude supplies. However, surging COVID-19 cases put a lid on gains. Hence, Brent crude for November delivery rose by 28 cents, or 0.7%, to end the session at $41.72 a barrel. Meanwhile, U.S. WTI crude increased by 1% to settle at $39.70 a barrel.
read more... 23/09/2020
Daily (22.09.2020): Crude oil started the new week on a bearish mood amid virus resurgence in Europe and expectations for return of Libyan crude production
Expectations that Libyan crude will soon return to the market coupled with worries over a rise in European COVID-19 cases and a global equity market selloff dampened the sentiment on the oil markets on Monday. Hence, Brent crude for November delivery shed by $1.71, or 4% to settle at $41.44 a barrel. Meanwhile, U.S. WTI crude fell by $1.80, or 4.4%, to end at $39.31 a barrel.
read more... 22/09/2020