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Daily (16.06.2020): NBP spot jumped by 6% on Monday amid weaker LNG supply and wind power generation

Crude oil futures turned bullish on Monday as signs of improving demand due to OPEC+ production cut agreement offset concerns that a resurgence of the virus could weigh on the global economy. Hence, Brent crude for August delivery soared by 99 cents, or 2.6%, to settle at $39.72 a barrel. At the same time, U.S. WTI crude for July delivery rose by 86 cents, or 2.4%, to end at $37.12 a barrel.

read more... 16/06/2020

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Daily (10.06.2020): British near-term gas prices lost ground on Tuesday despite a cut in Norway gas flows

Crude oil prices edged higher on Tuesday as the extension of OPEC+ output cuts on Saturday counterbalanced worries that resurgent coronavirus cases in the US could hit the oil demand recovery, which is still fragile. Hence, Brent crude for August delivery rose by 38 cents, or 0.9%, to settle at $41.18 a barrel. At the same time, U.S. WTI crude gained 75 cents, or 2%, to end at $38.94 a barrel.

read more... 10/06/2020

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Daily (09.06.2020): European spot electricity prices returned at pre-lockdown levels on Monday amid higher demand, lower renewables and nuclear output

Crude oil futures lost ground on Monday despite OPEC+ cuts as traders switched their focus on the announce that top producer Saudi Arabia and Gulf producers are not willing to extend cuts after June. Hence, Brent crude for August delivery fell by $1.50, or 3.6%, to settle at $40.80 a barrel. At the same time, U.S. WTI crude shed by $1.36, or 3.4%, to end at $38.19 a barrel.

read more... 09/06/2020

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Daily (08.06.2020): Crude oil futures settled at 3-month highs on Friday on U.S. jobless drop, OPEC meeting hopes

Crude oil futures rallied on Friday, to close at their highest level since March 6, spurred by AN OPTIMISTIC U.S. jobs report and ON hopes that OPEC+ producers will extend its production cuts for another month at its virtual meeting on Saturday.

read more... 08/06/2020

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Daily (05.06.2020): Oil prices steady on Thursday despite OPEC meeting uncertainty

Crude oil futures were little changed on Thursday as the delay of the OPEC+ meeting added uncertainty to whether the producers would agree to extend production cuts by 9.7 million bpd into the second half of 2020. Hence, Brent crude for August delivery rose by 0.5% to settle at $39.99 a barrel, continuing to push for $40 per barrel. At the same time, U.S. WTI crude added 0.3% to close at $37.41 a barrel.

read more... 05/06/2020

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