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Daily (29.10.2020): Partial lockdowns worldwide weigh on energy demand and on the entire energy complex

Crude oil tumbled by over 5% on Wednesday, as US oil stocks increased more than expected, while overall demand is expected to fall. As such, Brent oil ended at $39.12 a barrel, down 5.1%, or $2.08, from Tuesday’s close and WTI crude dropped by 5.5% to close at $37.39 a barrel.

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Novatek completes Arctic LNG 2 fleet formation

Novatek, Russia’s largest independent natural gas producer, has signed long-term charter deals for six Arc7 ice-class LNG tankers.

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Tesla Launches UK Energy Plan With Low Power Rates

Tesla is offering its Tesla Energy Plan in the UK designed for homes with solar and Powerwall that will turn them into virtual power plants to produce clean energy.

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Russia’s Crude Oil Exports Drop 8% In January-August

Russia’s crude oil exports dropped by 7.9 percent year over year in the period January to August, according to Russian federal customs data cited by local cargo analytics outlet SeaNews.

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Daily (28.10.2020): British near-term gas prices hit one-week low on Tuesday amid a less cold weather, strong wind power generation

Oil futures rebounded on Tuesday after the Tropical Storm Zeta slashed considerably the energy output in the Gulf of Mexico, while worries about the impact on demand from the ongoing surging globally in COVID-19 cases continue to weigh on the market. Hence, Brent crude for December delivery rose by 74 cents, or 1.8%, to end at $41.20 a barrel. At the same time, U.S. WTI crude for December delivery soared by $1.01, or 2.6%, to settle at $39.57 a barrel.

read more... 28/10/2020

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