Latest news
Daily (06.04.2021): Crude oil prices lost 4% on Monday, while other energy markets stagnated due to Easter holidays
Crude oil prices slumped on Monday, weighed by uncertainty regarding the decision taken last week at the OPEC+ summit to gradually ease production cuts. Consequently, Brent oil lost 4.2% to $62.15 a barrel, while WTI crude was 4.4% down at $58.65 a barrel.
read more... 06/04/2021
Daily (02.04.2021): Oil prices rebounded after OPEC+ decision to curb output cuts
Oil prices increased on Thursday following OPEC+ agreement to gradually increase output from May. Furthermore, expectations for a rebound in demand this summer also lent support to prices. Hence, Brent crude rose by 2.1% to settle at $64.86. At the same time, U.S. WTI surged by 3.9 % to close at $61.45 a barrel.
read more... 02/04/2021
Daily (01.04.2021): Carbon EUAs rose by 1% on Wednesday amid a record number of market participants
Oil prices were bearish on Wednesday ahead of the next OPEC+ summit. Meanwhile, the market seemed to ignore the EIA’s weekly report showing a decline in US crude reserves. As a result, Brent oil ended 1% down at $63.54 a barrel and WTI crude dropped by 2.3% to $59.16 a barrel.
read more... 01/04/2021
Daily (31.03.2021): Oil prices pulled back by over 1% on Tuesday as Suez Canal opened, focus shifts to OPEC+ meeting
Crude oil prices retreated on Tuesday amid a stronger dollar and as ships resumed moving through the Suez Canal, with traders turning their attention to a meeting of the OPEC+ later this week. Hence, Brent crude declined by 84 cents, or 1.3%, to settle at $64.14 a barrel. Meanwhile, U.S. WTI crude fell by $1.01, or 1.6%, to settle at $60.55 a barrel.
read more... 31/03/2021
Daily (30.03.2021): Oil prices continued to add ground on Monday amid suggestions that OPEC+ may extend output cuts to May
Oil prices rose slightly on Monday, neglecting traffic resumption through Suez Canal, with investors mostly watching the next ministerial summit of OPEC+ countries later in the week. Additionally, reports that Russia would support a rollover of oil output curbs to May contributed to strength in oil prices. Hence, Brent crude rose by 0.6% to settle at $64.98 a barrel. At the same time, U.S. WTI crude increased by 1% to end at $61.56 a barrel.
read more... 30/03/2021