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Daily (26.12.2018): The German power contract plummeted by 92.6% on Monday, due to weaker demand ahead of holidays

The recent agreement between OPEC and Russia on a 1.2 million bpd production cut for 2019 could not stop the decline in crude prices on Monday, as a potential rise in U.S. interest rates and trade tensions between the world’s biggest economies weighed down on the markets. WTI crude price tumbled by 7.2% to $42.53 a barrel, while Brent oil was 6.6% down at $50.47 a barrel, or their lowest levels since August 2017.

read more... 26/12/2018

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Total To Launch Oil Exports From New Nigerian Field In February

Just as OPEC and partners will have started the new round of production cuts to reduce oversupply, France’s Total is set to begin exports from the new ultra-deep Egina oil field offshore Nigeria in February 2019, at an initial rate of just over 100,000 bpd, Bloomberg reported on Thursday, quoting a copy of a loading program for the new grade it had seen.

read more... 21/12/2018

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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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