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Daily (06.11.2019): NBP spot climbed by 9% on Tuesday amid strong demand
Optimism over a nearing U.S.-China trade agreement and a potential suspension of some U.S. tariffs on Chinese imports pushed crude oil prices higher on Tuesday. Hence, Brent crude rose by 1.3% to $62.96 a barrel. In the meantime, WTI futures ended 1.2% up at $57.23 a barrel.
read more... 06/11/2019
Daily (04.11.2019): NBP spot surged by 25.5% on Friday due to lower Norwegian flows and an expected spike in heating demand
Crude oil prices posted robust gains on Friday, stimulated by higher-than-expected U.S. employment data in October and optimism that Chinese factory activity expanded at the fastest rate since 2017. On trade talks side, the U.S. and China are moving closer towards a Phase One trade deal, which might be signed this month. That bullish background sent WTI futures 3.7% up at $56.20 a barrel, while Brent crude hiked by 2.4% to $61.69 a barrel.
read more... 04/11/2019
Daily (21.10.2019): NBP spot jumped by 5.8% on Friday, due to unscheduled outages at the Forties oil and gas pipeline
Oil prices edged lower on Friday following data indicating that the Chinese economy registered the slowest growth in nearly three decades. Ongoing trade negotiations between China and U.S. and the rising amount in crude stockpiles also put pressure on prices. Hence, Brent crude dropped by 0.8% to end at $59.42 a barrel, while WTI futures lost 0.3% to settle at $53.78 a barrel.
read more... 21/10/2019
Daily (18.10.2019): EUAs nearly 1% off a fresh three-week high on Thursday, amid growing uncertainty over the fate of the new Brexit deal
Crude oil prices extended gains on Thursday after data pointed at a fall in the U.S. fuel stocks. Higher freight rates from Chinese shipping firm COSCO coupled with news about a new Brexit deal agreed between the UK and the EU also supported prices. Still, gains were capped by demand concerns in the wake of a larger-than-forecasted build in the U.S crude inventories and a string of poor economic data. Consequently, Brent crude inched up by 0.8% at 59.91 USD/bbl, while WTI futures added 1.1% to end at 53.93 USD/bbl.
read more... 18/10/2019
Daily (15.10.2019): NBP spot spiked by 21.3% on Monday, due to lower send-out rates from LNG terminals and weaker wind output
Crude oil prices fell on Monday on doubts about a China-U.S. trade deal. China declared that further discussions were needed, while U.S. reported that tariffs on Chinese imports are still set to take effect on Dec. 15, if a deal is not reached by that time. A rise in U.S. dollar also put pressure on prices. Hence, Brent crude fell by 1.9% to $59.35 a barrel, while WTI futures dropped by 2% to $53.39 a barrel.
read more... 15/10/2019