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Daily (10.07.2020): U.S. WTI crude slipped below $40 on Thursday amid coronavirus concerns, swelling U.S. crude stockpiles

Crude oil futures fell on Thursday, with U.S. WTI crude slipping back below $40 a barrel as rising cases of coronavirus in the U.S. and some other countries, as well as higher U.S. stockpiles threatened to deteriorate the demand for crude. Hence, Brent crude for September delivery dropped by 94 cents, or 2.2%, to settle at $42.35 a barrel on the ICE Futures Europe. At the same time, U.S. WTI crude for August delivery decreased by $1.28, or 3.1%, to settle at $39.62 a barrel on the New York Mercantile Exchange. Both WTI and Brent on Wednesday hit their highest settlements since March 6.

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Daily (09.07.2020): Higher Norwegian flows led to an oversupply in the British gas system on Wednesday

Crude oil prices added momentum on Wednesday, following an increase in U.S. crude imports and a weekly decline in gasoline supplies that indicated an improvement in energy demand. Hence, Brent crude traded 0.5% higher at $43.29 a barrel. At the same time, WTI futures edged 0.7% higher at $40.90 a barrel.

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Equinor discovers gas, condensate in North Sea

Proven reserves are between 3 and 10 million standard cubic meters of recoverable oil equivalent

read more... 09/07/2020

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Daily (08.07.2020): German and French spot electricity prices at their highest levels since the end of January amid lower renewables output and nuclear availability

Crude oil futures were little changed on Tuesday as an apparent optimism that U.S. crude inventories will decline this week was overshadowed by the surge in coronavirus cases in parts of the world which continued to pressure prospects for energy demand. Hence, Brent crude for September delivery steadied at $43.08 a barrel, while the U.S. WTI crude stagnated at $40.62 a barrel.

read more... 08/07/2020

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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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