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Daily (21.08.2017): Brent price rose sharply by 3.3% on Friday due to a weaker dollar
Oil prices increased sharply on Friday, due to a weaker dollar weakened and as U.S. drillers cut rigs, feeding a rally boosted global benchmark Brent crude to a weekly gain, while U.S. crude was almost flat week-on-week.
read more... 21/08/2017
Daily (18.08.2017): European carbon prices hit €6 on Thursday to reach a new 5.5-month high
Oil prices rose on Thursday as the EIA data showed commercial U.S. crude stocks have dropped by almost 13%, being at present lower than in 2016. Traders consider that the oil market is becoming more balanced and U.S. stocks might fall below the 5-year average in next 2 months. However, increasing U.S. output has been undermining efforts by the OPEC and non-OPEC producers to drain a global fuel glut. Brent edged up by 1.5% to $51.03 a barrel, while WTI price surged by 0.66% to end at $47.09 a barrel.
read more... 18/08/2017
Daily (17.08.2017): Oil prices fell more than 1% on Wednesday amid gasoline inventories decline
Oil prices were volatile on Wednesday, even though U.S. crude inventories dropped for a 7-th consecutive week to their lowest level since January 2016, according to latest EIA data. However, gasoline inventories did not decline as expected, and the data also showed that U.S. domestic crude output rose adding to global oversupply. On the demand side, analysts see a gradual slowdown in fuel consumption growth.
read more... 17/08/2017
The energy market in the North of England might be threatened by a hard Brexit
According to think tank IPPR North, the lack of a stable deal made on energy trade and the withdrawal from Euratom could have a negative impact on the North of England, its energy security and fuel prices in the events of a hard Brexit.
read more... 16/08/2017
Daily (16.08.2017): Most of the UK wholesale gas prices slipped by 1-2% on Tuesday due to oversupplied system
Oil prices decreased during the first half of Tuesday’s trading session as ample supply from OPEC and the U.S. combined with the signs of weaker demand in China encouraged investors to sell long positions bought in July during a period of rising prices. Meanwhile, a recent report of a dip in Libyan output and a surge in the U.S. dollar had supported Brent. Brent closed the session 7 cents higher at $50.80 a barrel, while WTI price fell by 0.08% to end at $47.55 a barrel.
read more... 16/08/2017