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Daily (11.08.2023): Gas prices retreated on Thursday amid hopes that a potential strike at an Australian LNG facility could be averted
Oil prices decreased due to a technical adjustment and concerns about the global economic outlook on Thursday. Recent data revealed that US core inflation increased to 3.2% in the previous month, a slight rise compared to June. The increase triggered speculation about the possibility of the Federal Reserve implementing another interest rate increase. As a result, Brent crude fell by 1.3% to $86.40 a barrel, while WTI crude declined by 1.9% to settle at $82.82 a barrel.
read more... 11/08/2023
Daily (08.08.2023): Germany recorded seven hours of negative power with a low of -9.99 EUR /MWh amid elevated wind output
Crude oil prices fell on Monday as a result of reduced demand for gasoline in the US, following the end of the summer driving season. Furthermore, the expansion of Chinese strategic oil reserves added downward pressure on prices. Thus, Brent crude dropped by 1.1% to end at $85.34 a barrel. Meanwhile, U.S. WTI crude declined by over 1% to settle at $81.94 a barrel.
read more... 08/08/2023
Daily (28.07.2023): Oil prices rose by over 1% on Thursday amid tight supply, falling US crude reserves and improving demand
Oil prices rose on Thursday, driven by continued tight supply, while demand remained resilient despite recession fears. Weekly figures released on Wednesday by the EIA showing a drop in commercial crude reserves and an increase in demand provided further support. Thus, WTI crude ended 1.7% higher at $80.09 a barrel, while Brent crude advanced by 1.6% to settle at $84.24 a barrel.
read more... 28/07/2023
Daily (27.07.2023): European carbon prices erased all the gains made during the week as bearish fundamentals prevailed
On Wednesday, oil prices slightly declined as they responded to a smaller-than-expected decrease in US oil reserves and the expectation of an upcoming rate hike by the Federal Reserve. Thus, WTI crude settled at $78.78, down by 1% day-on-day, while Brent crude fell by about 1% to reach $82.92 a barrel.
read more... 27/07/2023
Daily (14.06.2023): Gas prices soared on Tuesday as Nyhamna's gas outage was extended by more than three weeks
Crude oil prices gained ground on Tuesday on the back of lower-than-expected US inflation figures, which raised hopes of a pause in the Federal Reserve's interest rate hike. In addition, speculation about further Chinese economic recovery lent support. Hence, Brent crude increased by 3.4% to settle at $74.29 a barrel. At the same time, WTI crude traded 3.4% higher at $69.42 a barrel.
read more... 14/06/2023