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Daily (08.08.2017): UK prompt wholesale gas prices jumped by 4% on Monday due to Hornsea’s outage
Oil prices were slightly bearish on Monday, retreating from 9-week highs. According to traders, the market is looking for a statement, confirming that the OPEC will meet its agreed target, the possibility for price movement seems limited. Also, U.S. weekly oil production hit the highest value since August 2015 pushing down the prices. Brent crude dropped by 0.1% to close at $52.37 a barrel, while WTI price fell by almost 0.38% to close at $49.39 a barrel.
read more... 08/08/2017
Daily (07.08.2017): Oil prices rose 0.8% on Friday on strong U.S. gasoline demand
Oil prices were bullish on Friday as strong summer demand for transport fuel has buoyed benchmark contracts. U.S. gasoline demand rose to a record 9.842 million bpd last week, according to government data published. Brent crude jumped by 0.79% to close at $52.36 a barrel, while WTI price rose by almost 0.9% to close at $49.59 a barrel.
read more... 07/08/2017
Daily (04.08.2017): UK wholesale gas prices rose by 1.5% on Thursday on extended Kollsnes’ outage
Oil prices fell on Thursday, pushed down by high OPEC supplies. Yet traders consider, that the oil industry has adapted to “low prices era” and can produce and operate at price levels that previously would have been uneconomic. Brent crude tumbled by almost 0.7% to close at $52.01 a barrel, while WTI price decreased by 1.13% to close at $49.03 a barrel.
read more... 04/08/2017
Daily (03.08.2017): European carbon contracts grew by 2.4% to 2-weeks high on Wednesday.
Oil prices were bullish on Wednesday. Crude inventories in the US fell about half the decline EIA analysts had expected and strong refinery runs continued to boost demand for crude, supporting the prices. Brent crude jumped by 1.12% to close at $52.36 a barrel, while WTI price rose by almost 0.9% to close at $49.59 a barrel.
read more... 03/08/2017
Daily (02.08.2017): UK wholesale gas prices fell by 1.3% - 3% on Tuesday
Oil reversed to bearish on Tuesday, as OPEC production rose in July, according to Reuters survey, led by a further recovery in supply from Libya, one of the exempt producers. Nevertheless, U.S. inventory reports due on Tuesday and Wednesday are expected to show crude stocks fell, supporting the prices by the end of the week. Brent crude edged 1.65% lower at $51.78 a barrel, while WTI price decreased by 2% to close at $49.16 a barrel.
read more... 02/08/2017