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Daily (21.11.2023): European spot electricity prices surged by over 30% on Monday amid weaker wind, reduced nuclear availability, and a rising demand
Oil prices rallied further on Monday amid speculations that OPEC+ is considering deeper cuts at the 26 November meeting in Vienna. Consequently, Brent crude settled at $82.32 per barrel, up by 2% day-on-day. WTI crude climbed by 2.6% to end at $77.83 per barrel.
read more... 21/11/2023
Daily (17.11.2023): Oil prices plummeted by 5% on Thursday, weighed down by rising US inventories and fears over slowing global demand
Oil prices continued their losses on Thursday, shedding by about 5% during the session, weighed down by rising inventories in the U.S. and economic signals suggesting fears for global demand. As a result, Brent crude ended at $77.42 per barrel, while WTI crude closed at $72.90 per barrel.
read more... 17/11/2023
Daily (16.11.2023): European carbon prices hit a three-week high on Wednesday as data showed investment funds posted record net short positions
Oil prices declined on Wednesday as the prospect of supply outpacing demand continued to grow, with U.S. reserves rising to over 439 million barrels in the week ending November 10, significantly exceeding expectations. As a result, Brent crude ended 1.6% lower at $81.18 per barrel, while WTI crude dropped by 2% to end at $76.66 per barrel.
read more... 16/11/2023
Daily (14.11.2023): European spot electricity prices plummeted by 32% on Monday amid soaring wind output
Oil prices climbed on Monday, propelled by the publication of OPEC+'s monthly report aimed at mitigating "exaggerated negative sentiments" regarding the global oil demand outlook. As a result, both contracts rose by about 1.4%. Brent crude settled at $82.52 per barrel, while WTI crude ended at $78.26 per barrel.
read more... 14/11/2023
Daily (09.11.2023): Brent crude dived below $80 a barrel amid economic worries in China and Europe
On Wednesday, oil prices extended their decline, with Brent crude dropping below $80 a barrel for the first time since July. This drop was mainly driven by concerns about the bleak economic outlook in China and Europe, which heightened worries about global demand for oil. Consequently, Brent crude ended at $79.54 per barrel, while WTI crude stood at $75.33 per barrel.
read more... 09/11/2023