Latest news
Daily (04.02.2022): U.S. WTI crude jumped above $90 on Thursday for the first time since 2014
Oil prices climbed back above $90 a barrel, after OPEC and its oil-producing allies decided to stick to a previously announced schedule and increase March production by 400,000 barrels per day, despite mounting pressure from consuming countries to raise supply. Meanwhile, U.S. crude inventories dropped more than expected last week, with stockpiles sitting below their five-year average. As such, Brent crude moved 1.8% higher to $91.11 a barrel. The American WTI crude settled at $90.27, 2.3% up, for the first time since 2014, as demand for petroleum products surges.
read more... 04/02/2022
Daily (03.02.2022): European carbon prices jumped by over €5 on Wednesday amid strong technical buying and bullish energy prices
Crude oil prices rose marginally on Wednesday, supported by the decision of OPEC+ members to maintain the gradual increase in production. Gains, however, were limited by higher US crude reserves. As such, Brent oil edged 0.4% up at $89.47 a barrel and WTI crude gained merely 0.1% at $88.26 a barrel.
read more... 03/02/2022
Daily (02.02.2022): UK gas prices declined on Tuesday following a rise in natural gas supplies to Europe
Crude oil prices were steady to bearish on Tuesday, as the market remained cautious ahead of the Organisation of the Petroleum Exporting Countries (Opec) and its Opec+ partners meeting, as well as the release of US inventories. Thus, Brent crude declined by 2.3% to settle at $89.16 a barrel. Meanwhile, the American WTI crude price steadied at $88.20 a barrel.
read more... 02/02/2022
Daily (26.01.2022): Brent crude rose by more than 2% amid persisting geopolitical tensions and supply concerns
Geopolitical tensions sent crude prices higher amid an already tight oil market. Threats to infrastructure in the United Arab Emirates and struggles by OPEC+ to hit its targeted monthly output increase lent additional support to prices. As such, Brent crude rose by 2.2% to end at $88.20 a barrel. At the same time, WTI crude price increased by 2.8% to settle at $85.20 a barrel.
read more... 26/01/2022
Daily (20.01.2022): Oil prices were bullish on Wednesday, supported by forecasts for stronger demand
Crude oil prices rose on Wednesday, as the International Energy Agency (IEA) predicted a rise in crude demand, despite the spread of the Omicron variant. Furthermore, the situation was exacerbated by the apparent inability of OPEC+ to meet its production targets. Thus, Brent oil gained 1.1% at $88.44 a barrel and WTI crude jumped by 1.8% to $86.96 a barrel.
read more... 20/01/2022