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Daily (03.12.2020): Ongoing OPEC+ summit lent support to crude oil prices on Wednesday
Crude oil prices moved higher on Wednesday, as the ongoing OPEC+ negotiations boosted investors’ confidence, thus lending support to prices. Hence, Brent oil gained 1.8% to close at $48.25 a barrel and WTI crude ended 1.6% higher at $45.28 a barrel.
read more... 03/12/2020
Daily (02.12.2020): Oil prices continued to slip on Tuesday OPEC uncertainty
Crude oil futures continued to slip on Tuesday as OPEC's decision to end a meeting on Monday without a decision on its production plans for 2021 and delay a meeting set for Tuesday until later in the week, weighed on prices. Hence, Brent crude lost 0.4% to settle at $47.42 a barrel. At the same time, U.S. WTI crude ended at $44.55 a barrel, posting a 1.7% drop day-on-day.
read more... 02/12/2020
Daily (01.12.2020): Oil prices pulled back from record gains amid OPEC uncertainty about the extension of output cuts, but notched a 27% gain for November
Crude oil futures retreated from multi-month highs on Monday as OPEC+ postpones output cut decision to Thursday. Hence, Brent crude declined by 1.2% to settle at $47.59 a barrel. Meanwhile, U.S. WTI crude lost 0.4% to close at $45.34 a barrel. For November, both contracts rallied by around 27%, their biggest monthly gains since May on hopes of upcoming vaccines for COVID-19 that would help economic activity and oil demand resume.
read more... 01/12/2020
Daily (30.11.2020): Oil prices edged higher on Friday ahead of the year-end OPEC+ summit
Oil prices moved slightly higher on Friday amid expectations for the year-end OPEC+ summit. Despite a calm market, Brent crude ended 0.8% higher at $48.18 a barrel. WTI oil gained 1.3% to close at $45.53 a barrel, a day after Thanksgiving in the US.
read more... 30/11/2020
Daily (26.11.2020): European power prices soared on Wednesday amid colder weather outlook and lower wind generation
Crude prices hit an eight-month high on Wednesday, supported by a drop in US oil stocks, progress on the coronavirus vaccine and optimism ahead of the next OPEC+ summit. As such, Brent crude rose by 1.6% to $48.61 a barrel, while WTI oil ended 1.8% higher at $45.71 a barrel.
read more... 26/11/2020