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Daily (06.10.2021): Brent crude at three-year high, WTI at seven-year high on Tuesday as OPEC sticks to output plan
Oil prices continued to rally on Tuesday following OPEC+'s decision to maintain a policy of measured monthly production increases, lifting the international crude benchmark to a three-year high. Hence, Brent crude settled up $1.30, or 1.6%, at $82.56 a barrel. U.S. West Texas Intermediate (WTI) oil closed up $1.31, or 1.7%, at $78.93 a barrel, hitting its highest level since 2014.
read more... 06/10/2021
Daily (05.10.2021): European electricity prices rocketed on Monday amid low renewables output, surging gas prices
Oil prices prolonged their rally, to hit a three-year high on Monday following OPEC+ decision to stick with its current output policy as demand for petroleum rebounds. Hence, Brent crude soared by $1.98, or 2.5%, to settle at $81.26 a barrel. U.S. WTI crude settled up $1.74, or 2.3%, to $77.62 a barrel.
read more... 05/10/2021
Daily (04.10.2021): Oil prices gained 1% on Friday, supported by stronger demand and higher US equities
Crude oil prices increased on Friday, on the back of stronger demand and a rise in US equities. However, gains were limited by the prospect of the OPEC+ meeting on Monday where producing countries could decide to increase their production. Hence, Brent oil closed 1% higher at $79.28 a barrel and WTI crude rose by 1.1% to $75.88 a barrel.
read more... 04/10/2021
Daily (01.10.2021): British gas prices saw an unstoppable rally on Thursday amid supply fears ahead of the coming winter
Crude oil prices diverged but ended little changed on Thursday as a report showing China is ready to buy more oil to meet energy demand counterbalanced price pressure from an unexpected rise in U.S. crude inventories and a strong dollar. Hence, Brent crude steadied at $78.52 a barrel. U.S. WTI crude rose by 0.3% to $75.03 a barrel.
read more... 01/10/2021
Daily (30.09.2021): Gas prices were bullish on Wednesday, as market players were short-covering ahead of the winter gas season
Oil prices ended lower on Wednesday, pressured by profit-taking and a stronger US dollar. However, losses were limited by the EIA’s weekly report on US crude inventories. Consequently, Brent oil and WTI crude both edged 0.6% down at $78.64 and $74.83 a barrel, respectively.
read more... 30/09/2021