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Daily (09.12.2019): Brent posts a 3.1% weekly gain following OPEC decision to reduce output target

Crude oil prices soared on Friday as OPEC+ agreed in Vienna to extend output cuts by 500,000 barrels per day in early 2020. Consequently, Brent crude rallied by $1, or 1.6%, to settle at $64.39. It recorded a weekly hike of 3.1%. U.S. WTI crude rose by 77 cents, or 1.3%, to $59.20 per barrel. For the week, WTI jumped 7.3%, after a 4% rise reached on Wednesday after data indicated sharp declines in U.S. crude inventories.

read more... 09/12/2019


Daily (05.12.2019): Oil prices skyrocketed about 4% on Wednesday ahead of the OPEC meeting

Crude oil prices skyrocketed on Wednesday, buoyed by hopes of deeper production cuts from OPEC and its allies and following a larger-than-expected drop in U.S. stockpiles. Brent crude soared by 3.6% to settle at $63 a barrel. WTI crude gained 4.2%, closing at $58.43 a barrel. It was its third straight day of gains, and its best day since September.

read more... 05/12/2019


Daily (02.12.2019): Brent crude down 2.3% on Friday, but 6 % higher on a monthly basis due to a potential extension of production cuts by OPEC

Oil prices tumbled on Friday on new tensions between China and the US, but settled higher on a monthly basis on hopes for OPEC+ extension of production cuts beyond March.

read more... 02/12/2019


Russia Set to Overshoot Oil Quota Yet Again Ahead of OPEC Talks

Russia, OPEC’s largest ally in a deal to cut oil production, is once again failing to keep its side of the bargain.

read more... 28/11/2019


Daily (25.11.2019): German spot power price down about 30% on Friday on lower consumption expectations

Crude oil prices retreated from two-month highs on Friday, dragged down by uncertainty over U.S.-China trade talks, shading expectations for an extension to production reductions by OPEC and its allies. Brent crude for January delivery lost 58 cents or 0.9% to settle at $63.39 per barrel, posting a slight gain for the week. The WTI crude fell by 1.4% to close at $57.77 per barrel.

read more... 25/11/2019