Latest news
Daily (19.12.2023): Energy prices spiked on Monday amid supply security concerns
Oil prices rallied on Monday amid fears of disruptions to maritime oil transport due to attacks in the Red Sea. The market reacted to British oil giant BP's announcement that it would suspend all shipping in the Red Sea. Hence, Brent crude climbed by about 2% to settle at $77.95, and WTI crude ended at $72.47 per barrel, more than 1% higher day-on-day.
read more... 19/12/2023
Daily (18.12.2023): Forward gas prices tumbled by 5% on Friday amid robust supply and mild temperatures
Oil prices posted a slight decrease on Friday following a very volatile week. Market analysts attributed the fluctuations to the upcoming week nearing the end-of-year holidays, noting that traders "are not particularly inclined to take significant positions." As a result, Brent crude ended at $76.55, and WTI crude closed at $71.43 per barrel.
read more... 18/12/2023
Daily (14.12.2023): Forward gas prices traded higher on Wednesday as colder weather forecasts counterbalanced ample supply
On Wednesday, oil prices rebounded, supported by a decline in US crude inventories and a more relaxed tone from the Federal Reserve. As a result, Brent crude ended at $74.26, and WTI crude settled at $69.47 per barrel, with both contracts recording gains of over 1%.
read more... 14/12/2023
Daily (13.12.2023): Oil prices hit a 6-month low on Tuesday, driven by oversupply concerns and gloomy global economic outlook
Oil prices posted a sharp decline by about 4% on Tuesday, hitting a 6-month low, weighed down by fears of an oversupply of crude, a gloomy global economic outlook and US inflation that is not slowing down as easily. The Fed, the ECB and the BoE are all set to unveil interest rate decisions this week as investors await their impact on the global economy and oil demand. Hence, Brent crude settled at $73.324, while WTI crude closed at $68.61 per barrel.
read more... 13/12/2023
Daily (08.12.2023): Gas and power forward prices extended gains on Thursday amid stronger demand and supply concerns due to colder weather
On Thursday, oil prices experienced a minor decline as the bearish sentiment persisted, driven by indications of weakened global demand, particularly from China, the largest oil importer globally. Nevertheless, declining U.S. stocks limited losses. Thus, Brent crude settled at $74.05 per barrel, while WTI crude closed at $69.34 per barrel.
read more... 08/12/2023