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Daily (14.12.2018): European year-ahead power prices surged by over 2% on Thursday, amid a bullish energy complex

Oil prices rose on Thursday after a sharp decline in U.S. crude inventories. Accordingly, WTI crude increased by 2.8% to $52.58 a barrel. Concerns over a deficit of crude in the market, following the recent agreement between OPEC and Russia on a 1.2 million bpd production cut, also contributed to a price boost. Brent crude added 2.2% to close at $61.45 a barrel.

read more... 14/12/2018

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Daily (13.12.2018): NBP spot gained 1.6% on Wednesday due to cooler weather forecasts

Oil prices edged slightly lower on Wednesday, after Iran’s minister stated that opinions within OPEC related to output reduction differ. Nevertheless, losses were capped by the recent decline in Libya’s exports. Brent crude was almost unchanged at $60.15 a barrel. WTI crude lost 1% to end at $51.15 a barrel.

read more... 13/12/2018

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Daily (11.12.2018): Oil prices lost around 3% on Monday, on doubts that OPEC-led output cuts will be enough to support the market

On Monday, oil prices turned bearish on fears about global stock markets and doubts that OPEC-led production cuts will be enough to support the market. Brent crude dropped by 2.8% to settle at $59.97 a barrel. At the same time, WTI crude lost 3.1% to $51 a barrel.

read more... 11/12/2018

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Daily (10.12.2018): German power spot price plunged by 72% on Friday due to strong wind generation

An agreement reached by OPEC, Russia and several other producers to reduce output in 2019 boosted oil prices on Friday. Brent crude surged by $1.61, or 2.7 percent, to $61.67 a barrel. WTI crude jumped by 2.2% to $52.61 a barrel.

read more... 10/12/2018

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Daily (07.12.2018): Crude prices down by around 3% on Thursday, ahead of the final decision on OPEC supply cuts

Oil prices were strongly bearish on Thursday, as the OPEC meeting in Vienna ended without an announcement of a decision to reduce crude supply. Brent crude price plunged by 2.5% to $60.06 a barrel. WTI crude lost 2.7% to $51.49 a barrel. OPEC and its allies are likely to discuss today about the terms of supply cuts in order to support the market.

read more... 07/12/2018

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