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Daily (08.10.2019): Higher wind power output and warmer weather pushed NBP spot 6.3% down on Monday

Oil prices were little changed on Monday on hopes of progress in U.S.-China trade negotiations which should take place on Oct. 10-11 in a fresh effort to work out a deal. However, worsening global economic conditions still put pressure on oil demand. Hence, Brent crude ended at $58.35 a barrel, while WTI futures lost 0.1% to end at $52.75 a barrel.

read more... 08/10/2019

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Daily (04.10.2019): The EUAs hit a six-month low on Thursday, pressured by mounting recession concerns

Crude oil prices slightly diverged on Thursday. WTI futures edged down by 0.4% to $52.45 a barrel, amid mounting crude demand worries, after pessimistic services sector and job growth figures in the U.S. added to the bearish macroeconomic tone set by earlier weak manufacturing readings. A stall in the Euro zone business growth reported for September also kept market under pressure. However, losses were capped by data showing lower U.S. oil output in July. Meanwhile, Brent crude was a shade higher at $57.71 a barrel, on hopes that a positive development might occur in the U.S.-China trade talks when these will resume on October 10.

read more... 04/10/2019

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Daily (03.10.2019): UK gas futures posted important losses on Wednesday amid strong pipeline and LNG supplies

Crude oil prices extended losses on Wednesday, after data showed a build in the U.S. crude inventories. Furthermore, pessimistic economic data in the U.S. dragged down the equities market, weighing on the global oil demand. Fading geopolitical tensions in the Middle East stoked oversupply fears, adding to the market bearishness. Against that background, Brent crude dropped by 2% to $57.69 a barrel, while WTI futures settled 1.8% lower at $52.64 a barrel.

read more... 03/10/2019

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Daily (02.10.2019): Brent crude dipped by over 3% on Tuesday, on fears of weakening crude demand

Crude oil prices continued their downward evolution on Tuesday, following the news that U.S. factory data dropped to an over 10-year low in September due to fewer exports in the context of the U.S.-China trade tensions. A subsequent fall in equities market put more pressure on prices. Pessimistic manufacturing and inflation data in the Euro zone also weighed on the market. On the supply side, the declines in oil output from OPEC, Russia and the U.S. could prevent further losses. Brent crude tumbled by 3.1% to $58.89 a barrel. WTI futures traded 0.8% lower at $53.62 a barrel.

read more... 02/10/2019

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Daily (25.09.2019): Crude oil prices fell over 2.3% on Tuesday, due to pessimistic China-U.S. negotiations and weaker global demand

Oil prices fell on Tuesday to their lowest levels since September 14, after U.S. president Donald Trump accused China of unfair trade practices. The decline in stock markets and lower manufacturing activity in Europe also weighed on prices. Hence, Brent crude decreased by 2.6% to close at $63.10 a barrel, while WTI futures lost 2.3% to end at $57.29 a barrel.

read more... 25/09/2019

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