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Daily (21.02.2023): European spot power prices surged on Monday as low wind output and forecasts of colder weather boosted demand
Oil prices rebounded on Monday as attention shifted back to the fundamentals of supply and demand, with Russia's output expected to decline and China's reopening boosting slightly the demand. As a result, Brent crude oil gained 1.3% day-on-day to settle at $84.07 a barrel.
read more... 21/02/2023
Daily (20.02.2023): Oil prices continued their bearish evolution on Friday, despite forecasts of rising Chinese demand
Oil prices continued their bearish trend on Friday, despite forecasts of rising Chinese demand, as oil producers are expected to maintain current volumes of crude exports and OPEC+ agreement will continue until the end of the year. Thus, Brent crude oil posted a 2.5% day-on-day loss to settle at $83.00 a barrel.
read more... 20/02/2023
China is taking control of LNG amid boom in global demand
A rush by China to sign new long-term liquefied natural gas deals promises to give the nation even more control over the global market at a time when competition for cargoes is booming.
read more... 20/02/2023
Daily (16.02.2023): EUAs hit a seven-session high on Wednesday, as traders are looking to liquidate their short positions
OPEC and the International Energy Agency both increased their demand forecasts for the year on Wednesday, shaking off the U.S. Energy Information Administration (EIA) report of a large increase in U.S. crude inventories, which resulted in only a slight decline in oil prices. Hence, Brent crude oil edged down at $85.38 a barrel.
read more... 16/02/2023
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The IEA Expects Global Oil Demand Hit A Record High In 2023
Global oil demand is set to increase by 2 million barrels per day (bpd) this year, pushed up by growth in Chinese consumption after the reopening, the International Energy Agency (IEA) said on Wednesday as it raised its 2023 demand growth estimate by 100,000 bpd from last month’s forecast.
read more... 16/02/2023