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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.

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 (06.07.2020) NBP spot plunged by almost 5% on Friday influenced by an upward revision of the French nuclear output.

Crude oil prices lost momentum on Friday, on renewed fears over global fuel demand as U.S reported a surge in coronavirus cases. Nevertheless, signs of improving global economy and OPEC+ record high supply cuts limited the loss. As a result, Brent crude decreased by 0.8% to $42.80 a barrel. Similarly, WTI futures traded 1% lower at $40.24 a barrel.

read more... 06/07/2020

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Daily (01.07.2020): The German Cal ’21 power at its highest level since the end of February, driven by economic optimism, higher carbon and coal prices

Oil prices reversed previous gains on Tuesday as Libya prepares to resume crude exports, intensifying concerns over a possible oversupply on the market. Hence, Brent crude for August delivery, which expired yesterday, fell by 56 cents, or 1.2%, to settle at $41.15. The more-active September contract lost 58 cents at $41.27 a barrel. At the same time, U.S. WTI crude dropped by 43 cents, or 1%, to end at $39.27 a barrel. However, for the month, Brent and WTI gained 16.5% and 12.4% respectively.

read more... 01/07/2020

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Daily (29.06.2020): Brent and WTI dropped by 2.8% and 3.2% for the week as the coronavirus spread is likely to cloud the demand outlook

Crude oil futures turned bearish on Friday as the spread of coronavirus in the U.S. and China are expected to hurt demand recovery. However, a record build-up in U.S. crude inventories added further pressure on the WTI crude price. Hence, Brent crude steadied at $41.02 a barrel. At the same time, U.S. WTI crude fell by 23 cents, or 0.6%, to settle at $38.49 per barrel. For the week, Brent dropped by 2.8%, while WTI crude shed by 3.2%.

read more... 29/06/2020

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