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Daily (14.05.2020): Oil prices turned bearish on Wednesday on wait-and-see approach adopted by investors

The solemn speech from the U.S. Federal Reserve Chair Jerome Powell stating that economic recovery would be a long process led to a plunge in oil prices, despite the first decline in U.S. inventories since January. Brent crude fell 79 cents, or 2.6%, to $29.19 a barrel. West Texas Intermediate crude futures dropped by 78 cents, or 1.9%, to $25.29.

read more... 14/05/2020

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Daily (12.05.2020): British near-term gas prices lost ground on Monday amid a re-routing of French gas to UK

Crude oil futures started the week on the back foot, weighed down by investor fears of a second wave of Covid-19 which offset new output cuts from Saudi Arabia. Hence, Brent crude for July delivery fell by $1.34, or 4.3%, to settle at $29.63 a barrel. At the same time, U.S. WTI crude dropped by 60 cents, or 2.4%, to settle at $24.14 a barrel.

read more... 12/05/2020

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Daily (11.08.2020): Oil prices turned bullish on Friday due to an increase in demand

Crude oil prices surged on Friday, as an increase in demand and a decline in U.S. oil rigs boosted prices. Brent crude rose by $1.51, or 5.1%, to $30.97 a barrel. U.S. West Texas Intermediate crude futures (WTI) gained $1.19, or 5%, to $24.74 a barrel.

read more... 11/05/2020

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EU day-ahead hours dip to negative prices for Monday

Day-ahead power in several European markets dropped to negative prices for the early hours of Monday, with Belgium seeing the lowest price of EUR -4.98/MWh amid healthy wind output and low demand.

read more... 11/05/2020

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Daily (08.05.2020): German Cal’21 power contract bounced by 1.3% on Thursday in tandem with stronger coal, carbon prices

Crude oil futures declined on Thursday amid doubts about the ability of oil giants to comply with their production quotas in an attempt to stabilize the market. Moreover, worries about economic recession, sluggish demand and oversupply eclipsed a rebound in Saudi Arabia’s official crude selling and an unexpected rise in Chinese exports last month.

read more... 08/05/2020

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