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Daily (23.05.2019): European carbon prices spiked by nearly 4% on Wednesday, on looming tight supply and higher gas prices

Crude oil prices dropped on Wednesday, after data showed that U.S. crude inventories surged unexpectedly amplifying concerns over a weaker oil demand raised by the lengthy U.S.-China tariff dispute. WTI futures closed 2.7% lower at 61.42 USD/bbl, in tandem with falling equities. On the other side, rising tensions between Washington and Iran coupled with OPEC’s intentions to continue output cuts helped limit the fall in prices. As a result, Brent crude price dropped by 1.7% to 70.99 USD/bbl.

read more... 23/05/2019

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Daily (22.05.2019): NBP spot ended down by nearly 3% on Tuesday due to higher Norwegian flows

The outlook of a tighter supply fuelled by the growing tensions in the Middle East and OPEC’s constant commitment to cut output supported oil prices on Tuesday. Meanwhile, gains were capped by the lengthy U.S.-China trade dispute and its bearish impact on the global economic growth. Brent crude price edged higher by 0.3% to 72.18 USD/bbl, while WTI futures were only 0.1% up at 63.13 USD/bbl.

read more... 22/05/2019

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Daily (21.05.2019): European spot power prices soared by around 16% due to firmer consumption

Oil prices diverged on Monday. OPEC’s intention to maintain output cuts coupled with the escalating tensions in the Middle East sent WTI futures up by 0.5% at 63.10 USD/bbl. Meanwhile, Brent crude lost 0.3% to settle at 71.97 USD/bbl, influenced by the high level of global crude oil inventories.

read more... 21/05/2019

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Russia Oil Production Dips

Russia’s crude oil production averaged 11.16 million bpd in the first twelve days of May, Oil Price reported on Tuesday, citing two industry sources, which means that Moscow is finally within its cap under the OPEC+ deal.

read more... 15/05/2019

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Azerbaijan cuts average daily oil production within OPEC agreement

Azerbaijan has submitted the data on the daily oil production in the country for April 2019 to the joint technical commission of the OPEC monitoring committee, Trend reports referring to the country's Energy Ministry on May 11.

read more... 13/05/2019

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