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Daily (08.02.2022): Oil prices retreated from seven-year highs on Monday amid nuclear talks between the US and Iran
Oil prices took a breather on Monday amid a lack of new signals. However, the market kept an eye on the talks between the US and Iran that could lead to a potential lifting of the sanctions against the Iranian oil industry. Hence, Brent crude lost 0.6% to settle at $92.69 a barrel. U.S. WTI crude decreased by 1.1% to close at $91.32 a barrel.
read more... 08/02/2022
Daily (07.02.2022): German and French forward power contracts jumped by more than 4% on Friday, on record high CO2 prices and bullish gas markets
Crude oil prices ended higher on Friday, on worries about the continued Ukrainian crisis and insufficient production from OPEC members. Moreover, a winter storm that hit the US, impacting production and supply, also boosted prices. As such, Brent oil rose by 2.4% to $93.27 a barrel and WTI crude gained 2.3% at $92.31 a barrel.
read more... 07/02/2022
Daily (04.02.2022): U.S. WTI crude jumped above $90 on Thursday for the first time since 2014
Oil prices climbed back above $90 a barrel, after OPEC and its oil-producing allies decided to stick to a previously announced schedule and increase March production by 400,000 barrels per day, despite mounting pressure from consuming countries to raise supply. Meanwhile, U.S. crude inventories dropped more than expected last week, with stockpiles sitting below their five-year average. As such, Brent crude moved 1.8% higher to $91.11 a barrel. The American WTI crude settled at $90.27, 2.3% up, for the first time since 2014, as demand for petroleum products surges.
read more... 04/02/2022
Daily (03.02.2022): European carbon prices jumped by over €5 on Wednesday amid strong technical buying and bullish energy prices
Crude oil prices rose marginally on Wednesday, supported by the decision of OPEC+ members to maintain the gradual increase in production. Gains, however, were limited by higher US crude reserves. As such, Brent oil edged 0.4% up at $89.47 a barrel and WTI crude gained merely 0.1% at $88.26 a barrel.
read more... 03/02/2022
Daily (02.02.2022): UK gas prices declined on Tuesday following a rise in natural gas supplies to Europe
Crude oil prices were steady to bearish on Tuesday, as the market remained cautious ahead of the Organisation of the Petroleum Exporting Countries (Opec) and its Opec+ partners meeting, as well as the release of US inventories. Thus, Brent crude declined by 2.3% to settle at $89.16 a barrel. Meanwhile, the American WTI crude price steadied at $88.20 a barrel.
read more... 02/02/2022