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Daily (08.09.2021): European front-year power contracts hit fresh all-time highs amid strong gas, coal
Crude oil futures retreated on Tuesday as Saudi Arabia’s sharp cuts in crude contract prices for Asia raised fears over slower demand, but strong Chinese economic data and U.S. output outages limited losses. Hence, Brent crude declined by 0.7% to settle at $71.69 a barrel. U.S. WTI crude lost 0.8% to end at $68.35 a barrel.
read more... 08/09/2021
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Daily (07.09.2021): German and French Cal’22 power hit all-time highs on Monday with gas and carbon heading higher in lockstep
Crude oil prices retreated on Monday as demand worries related to impacts by the coronavirus and its delta variant are put into the spotlight again after Saudi Arabia cut official selling prices to Asia. Hence, Brent crude shed by 1.8% to settle at $72.22 a barrel. U.S. WTI crude declined by 0.5% to close at $68.93 a barrel.
read more... 07/09/2021
Daily (06.09.2021): The wider energy complex weakened on Friday, on bearish technical signals
Oil prices diverged on Friday, with Brent crude trading 0.7% higher at $73.51 a barrel, on subsiding fears over Hurricane Ida and production increases by OPEC members. WTI oil, however, lost 1% to close at $69.28 a barrel, weighed by concerns over an economic slowdown.
read more... 06/09/2021
Daily (03.09.2021): Electricity front-year prices were hovering at all-time highs amid record high gas and carbon
Crude oil prices rebounded sharply on Thursday, supported by recent data showing a sharp drop in U.S. crude inventories and hopes about global economic growth despite the coronavirus pandemic. Hence, Brent crude increased by $1.44 or 2%, to settle at $73.03 a barrel, notching its first gain in three sessions. U.S. WTI crude rose by $1.40, or 2%, to settle at $69.99 a barrel, the highest settlement since Aug 3.
read more... 03/09/2021
Daily (02.09.2021): European carbon prices lost 1% on Wednesday, tracking a bearish energy complex
Crude oil prices diverged on Wednesday. The Brent benchmark lost nearly 2% at $71.59 a barrel, as OPEC+ members confirmed their strategy of increasing production by 400.000 bpd in October. WTI oil edged higher, as a weekly decrease in US crude stocks limited losses. As such, WTI edged 0.1% higher at $68.59 a barrel.
read more... 02/09/2021