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Daily (12.03.2019): Oil prices soared by 1.3% on Monday on continued OPEC-led supply cuts

Crude oil prices gained ground on Monday, as Saudi Energy Minister Khalid al-Falih said that OPEC-led supply cuts will unlikely stop before the group meeting in June. Both Brent crude and WTI futures rose by 1.3% to $66.58 a barrel and $56.79 a barrel respectively.

read more... 12/03/2019

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Daily (8.03.2019): WTI futures rose by 0.8% on Thursday, buoyed by OPEC-led supply cuts and U.S. sanctions against Venezuela and Iran

Crude oil prices added ground on Thursday, supported by ongoing OPEC-led supply cuts and U.S. sanctions against Venezuela and Iran. However, record high U.S. crude production and uncertainty around global economic growth limited gains. Brent crude edged 0.5% higher at $66.30 a barrel, while WTI futures rose by 0.8% to $56.66 a barrel.

read more... 08/03/2019

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Daily (01.03.2019): EU carbon prices topped €22 a tonne on Thursday, rising for the fifth consecutive day

Brent crude price reversed trend, turning bearish on Thursday, influenced by lower factory output reported by the two Asia’s biggest economies – China and Japan. The record level of U.S. crude stockpiles also weighed on prices. On top of that, the lack of a deal after the two-day summit between U.S. president Trump and North Korean leader Kim Jong Un left the financial markets under pressure. Brent crude edged 0.5% down at $66.03 a barrel. Nevertheless, OPEC-led supply cuts and last week’s decline in crude U.S. crude imports to a two-decade low supported WTI crude price, which inched 0.5% up at $57.22 a barrel.

read more... 01/03/2019

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Daily (28.02.2019): WTI futures hiked by 2.6% on Wednesday, amidst a sharp drop in U.S. crude stockpiles

Oil prices climbed on Wednesday after U.S. data showed a sharp drop in crude stockpiles. Moreover, OPEC continues to cut oil supplies. Brent oil surged by 1.8% to 66.39 USD/bbl, while WTI futures was 2.6% up at 56.94 USD/bbl.

read more... 28/02/2019

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Daily (27.02.2019): Brent crude rebounded on Tuesday on OPEC’s strong commitment to continue production cuts

Crude oil prices resumed their upward trend on Tuesday, stimulated by OPEC’s intention to proceed with production cuts until inventories will decrease to their five-year average, despite President Trump’s recent tweet. U.S. Sanctions on Venezuela and the official decision to restart Libya’s largest oilfield, EL Sahara, also lent support to prices. Brent oil rose by 0.7% to $65.21 a barrel. Meanwhile, WTI futures struggled to pare earlier losses in a stabilizing market, settling at $55.50 a barrel.

read more... 27/02/2019

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