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Daily (17.07.2020): EUAs plummeted by over 7% on Thursday due to robust auction supply

Crude oil futures fell by about 1% on Thursday, but held above the $40 mark amid a weaker demand outlook underscored by the OPEC+ alliance’s decision to ease production cuts from August. Moreover, resurgent coronavirus cases in the U.S. weighed on oil prices. Hence, Brent crude for September delivery declined by 42 cents, to settle at $43.37 a barrel. At the same time, U.S. WTI crude slipped by 45 cents, to close at $40.75 a barrel.

read more... 17/07/2020

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Daily (14.07.2020): EUAs hit on Monday their highest levels since April 2006 amid speculative buying

Crude oil futures declined by about 1% on Monday as the market waited for direction ahead of OPEC meeting later this week that is expected to recommend an increase in output starting in August amid signs that demand is returning to normal levels following coronavirus-related lockdowns. The potential return of Libyan crude added further pressure to oil markets. Hence, Brent crude declined by 52 cents to settle at $42.72 a barrel. Meanwhile, U.S. WTI crude slipped by 45 cents to end at $40.10 a barrel.

read more... 14/07/2020

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Daily (07.07.2020): The German Cal’21 power climbed to a 20-week high on Monday, keeping the pace with EUAs above 30 Eur

Crude oil futures edged higher on Monday, supported by a string of data showing an economic recovery across the globe and amid improving OPEC+ compliance. However, oil continued to be pressured by the surging coronavirus cases. Hence, Brent crude from September delivery rose by 0.7%, or 30 cents, to settle at $43.10 a barrel. At the same time, U.S. WTI crude settled at $40.63 a barrel, up 1% day-on-day.

read more... 07/07/2020

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Daily (02.07.2020): EUAs soared briefly above the €28-level on Wednesday, to hit 11-month highs amid speculative buying

Crude oil futures gained ground on Wednesday amid a massive drawdown in U.S. crude stockpiles, suggesting that demand is improving. However, the surge in new coronavirus cases limited the market’s upside. Hence, Brent crude for September delivery rose by 88 cents, or 2.1%, to settle at 42.03 a barrel. At the same time, U.S. WTI crude gained 55 cents, or 1.4%, to end at $39.82 per barrel.

read more... 02/07/2020

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Daily (24.06.2020): EUAs surpassed the €25- level for the first time in four months on Tuesday amid bullish economic data

Crude oil futures pulled back off the highest levels since before the coronavirus pandemic on Tuesday amid a sharp increase in COVID-19 cases and before the release of a weekly report which is expected to reveal that crude inventories have reached a new all-time high in the United States. However, the reassurance by the U.S. President Donald Trump that the trade agreement with China was “fully intact” limited losses. Hence, Brent crude declined by 45 cents, or 1%, to settle at $42.63 per barrel. At the same time, U.S. WTI crude settled 36 cents, or 0.9%, lower at $40.37 per barrel.

read more... 24/06/2020

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