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Daily (05.03.2021): Oil prices soared by 4% on Thursday following the positive conclusion of the OPEC+ summit
Crude oil prices strengthened significantly on Thursday, as OPEC+ summit members concluded on a marginal increase in petroleum production. As a result, Brent oil and WTI crude both surged by 4.2% to trade at $66.74 a barrel and $63.83 a barrel, respectively.
read more... 05/03/2021
Daily (04.03.2021): Growing volumes of LNG supply pushed British gas prices lower on Wednesday
Oil prices surged on Wednesday, supported by decreasing gasoline reserves in the United States and anticipation for the OPEC+ summit on Thursday. As such, Brent oil increased by 2.2% to $64.07 a barrel and WTI crude soared by 2.6% to $61.28 a barrel.
read more... 04/03/2021
Daily (03.03.2021): Oil prices tumbled to two-week lows on Tuesday amid expectations that OPEC will boost output
Crude oil prices remained on the back-foot for the fourth consecutive day on Tuesday amid expectations that OPEC+ producers will ease supply curbs at their meeting later this week as the global oil demand shows signs of recovery from the coronavirus pandemic. Hence, Brent crude dropped by 99 cents, or 1.6%, to settle at $62.70 a barrel, its lowest close since Feb. 12. U.S. WTI crude fell by 89 cents, or 1.5%, to $59.75, its lowest settlement since Feb. 19.
read more... 03/03/2021
Daily (02.03.2021): Oil prices fell sharply on Monday amid jitters that OPEC will raise output
Crude oil futures extended losses on Monday amid supply concerns ahead of the OPEC+ key meeting on Thursday, rising output from Venezuela, and weak crude demand from China. Hence, Brent crude settled at $63.69 a barrel, dropping by $2.44, or 3.7%. Meanwhile, U.S. WTI crude fell by 0.86 cents or 1.4%, to end at $60.64 a barrel.
read more... 02/03/2021
Daily (26.02.2021): Brent crude rally take a breather, while U.S. WTI crude ends at its highest since May 2019
Crude oil prices diverged on Thursday, with Brent crude steadying after a period of optimism amid concerns over OPEC+’s willingness to continue output cuts grow. In contrast, U.S. WTI crude gained ground, spurred by optimism of quickly depleting global oil inventories. Hence, Brent crude lost 0.2% to settle at $66.88 a barrel. Meanwhile, U.S. WTI crude rose by 0.5% to 63.53 a barrel, marking its highest finish since May 2019.
read more... 26/02/2021