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Daily (23.09.2021): Oil prices gained 2.5% on Wednesday, supported by declining crude inventories in the United States
Oil prices strengthened on Wednesday, following the US Energy Information Administration’s weekly report showing a decline in crude stocks caused by the recent hurricanes. As such, Brent oil and WTI crude both rose by 2.5% to $76.19 and $72.23 a barrel, respectively.
read more... 23/09/2021
Daily (22.09.2021): British gas prices retreated on Tuesday amid low demand from power sector, weaker EUAs
Oil prices settled modestly higher on Tuesday, supported by a lower U.S. Dollar Index and expectations for a weekly drop in U.S. crude inventories, a day after a broad selloff attributed to jitters about the impact of a default by Chinese property giant Evergrande. However, the pessimistic growth forecasts from the Organization for Economic Cooperation and Development (OECD) limited the gains. Hence, Brent crude rose by 0.6% to $74.36 a barrel. U.S. WTI crude added 0.3% to end at $70.49 a barrel.
read more... 22/09/2021
Daily (21.09.2021): European power curve surged on Monday as gas rally shows no let-up
Crude oil prices retreated on Monday amid concerns over slowing economic growth in China, highlighted by a debt crisis faced by property developer Evergrande. Moreover, investors grew more risk averse, which hurt stock markets and spurred the U.S. dollar, making oil more expensive for holders of other currencies. Hence, Brent crude fell by $1.42, or 1.9%, to settle at $73.92 a barrel. U.S. WTI crude declined by $1.68, or 2.3%, to end at $70.29 a barrel.
read more... 21/09/2021
Daily (20.09.2021): Gas markets surged on Friday, as Gazprom books no addition transit capacity via Ukraine next week
Oil prices retreated on Friday, pressured by a stronger US dollar and the gradual recovery of production facilities in the Gulf of Mexico. As such, Brent oil slipped by 0.4% at $75.34 a barrel and WTI crude ended 0.9% lower at $71.97 a barrel.
read more... 20/09/2021
Daily (17.09.2021): European front-year electricity prices dropped by about 7% on Thursday in tandem with lower gas
Oil prices were rather steady on Thursday after hitting a multi-week high a day earlier. Prices were partly supported by the outlook of recovering oil demand as indicated by OPEC and IEA this week. On the other hand, the threat of disruptions by hurricane Nicholas receded. Hence, Brent crude added 0.3% to settle at $75.67 a barrel. U.S. WTI crude ended unchanged at $72.61 a barrel.
read more... 17/09/2021