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Daily (30.06.2021): EUAs hiked at fresh six-week highs on Tuesday amid bullish gas, upcoming carbon market reform
Crude oil prices stabilised on Tuesday, with the market still focused on the upcoming OPEC summit, where the organization is set to plan their output strategy for the coming months. Hence, Brent crude steadied at $74.76 a barrel. At the same time, U.S. WTI crude ended rather flat at $72.98 a barrel.
read more... 30/06/2021
Daily (29.06.2021): British gas prices retreated on Monday amid improved supply from Norway and despite strong carbon prices
Crude oil prices opened the week on the back foot after the oil market hit a three-year high on Friday. Increasing number of the new so-called Delta variant and expectations that OPEC+ producers will boost supply at an upcoming meeting put pressure on crude prices on Monday. Hence, Brent crude shed by 2% to settle at $74.68 a barrel. U.S. WTI crude ended at $72.91 a barrel, falling by 1.5% day-on-day.
read more... 29/06/2021
Daily (28.06.2021): Crude oil prices inched higher on Friday as global demand continue to rise
Oil prices rose to their highest since October 2018 on Friday as demand is expected to grow and it could outstrip supply. Moreover, OPEC+ will be prudent in returning more crude to the market from August. Thus, Brent crude gained 0.8% to settle at 76.18 $ a barel, while the U.S. crude WTI closed at $74.05 a barrel, or more than 1% higher.
read more... 28/06/2021
Daily (23.06.2021): EUAs climbed above 53 EUR/tonne on Tuesday, bolstered by strong gas, coal prices
Crude oil futures retreated on Tuesday, with Brent crude rathe flat following a day with no major events. However, expectations that OPEC+ may decide to further boost crude production starting in August added further pressure on oil prices. Hence, Brent crude steadied at $74.81 a barrel. At the same time, U.S. WTI crude decreased by 1.1% to $72.85 a barrel.
read more... 23/06/2021
Daily (11.06.2021): British gas prices continued to rise amid a short system and carbon optimism
Oil prices rallied on Thursday after OPEC released an upbeat monthly report, showing that the recovery in global economic growth and oil demand is expected to accelerate in the second half of the year. In this context, Brent crude edged 0.4% higher at $72.52 a barrel, while the American WTI crude closed 0.5% up at $70.29 a barrel, or their highest levels since 2019 and October 2018 respectively.
read more... 11/06/2021