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Daily (27.10.2020): Brent and WTI crude settled at 3-week lows on Monday amid surging coronavirus cases worldwide

Crude oil futures fell on Monday in response to surging coronavirus cases in the US and Europe, where several countries have already implemented new restrictions, raising concerns about the impact of the pandemic on oil demand. Extra pressure on oil prices comes from increasing Libyan crude oil production and exports after the country recently lifted the force majeure. Hence, Brent crude shed by $1.31, or 3.1%, to settle at $40.46 a barrel. U.S. WTI crude dropped by $1.29, or 3.2%, to close at $38.56 a barrel. Both, WTI and Brent crude marked their lowest settlements since Oct. 2.

read more... 27/10/2020


France to rein in export guarantees for oil and gas industry

In a second step, guarantees would be halted next year for projects involving heavy oil, shale oil and bitumen oil sands, affecting the creation of up to 700 new jobs, the ministry said in its proposal to parliament

read more... 13/10/2020


Norway gas exports to Europe rise amid strike as other fields ramp up

European gas markets are currently well-supplied, with plenty of gas in storage. Prices are at seasonal lows due to the impact of mild winters, plentiful LNG supply and reduced energy demand during the coronavirus pandemic

read more... 07/10/2020


New Tax Rule Could Cost Russian Fuel Oil Exporters $1B Annually

A new export tax rule in Russia could cost domestic exporters of fuel oil as much as US$1 billion in missed sales every year, Reuters has estimated.

read more... 08/09/2020


Daily (25.08.2020): British front-month gas price rallied by about 10% on Monday amid reduced available export capacity in Norway

Oil prices ended higher on Monday as storms Marco and Laura expected later in the week halted more than half of oil production in the Gulf of Mexico. As a result, Brent crude rose by 78 cents, or 1.76%, to settle at $45.13 a barrel. At the same time, U.S. WTI crude settled at $42.62 a barrel, rising by 28 cents, or 0.7 %.

read more... 25/08/2020