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Daily (12.04.2019): Carbon prices hit a fresh 11-year peak on Thursday, after the second Brexit extension

Crude oil prices declined on Thursday, due to concerns that OPEC might increase its oil production as of July if oil supplies from Venezuela and Iran continue to tighten and consequently support prices. The surging U.S. crude inventories also weighed on prices. WTI futures lost 1.6% to settle at $63.58 a barrel, while Brent crude price dropped by 1.3% to $70.83 a barrel.

read more... 12/04/2019

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Daily (11.04.2019): The EU carbon prices hit a new 11-year high on Wednesday on Brexit delay optimism

Crude oil prices increased on Wednesday, after EIA report showed that U.S. gasoline stocks plunged more than expected last week, offsetting the surging crude inventories. OPEC’s oil production at four-year low in March coupled with U.S. sanctions on Iran and Venezuela lent more support to prices. Brent crude price rose by 1.6% to $71.73 a barrel, while WTI futures traded 1% up at $64.61 a barrel.

read more... 11/04/2019

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Azerbaijan cuts average daily oil production within OPEC agreement

Azerbaijan has submitted the data on the daily oil production in the country for March 2019 to the joint technical commission of the OPEC monitoring committee, Trend reports referring to the country's Energy Ministry on April 10.

read more... 11/04/2019

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Daily (10.04.2019): NBP spot soared by over 10% on Tuesday amid system undersupply

Crude oil prices pared earlier gains on Tuesday, following an unexpected increase in U.S. crude inventories and Russia’s comments on a potential rise in its oil production after OPEC’s meeting in June. However, OPEC-led supply cuts as well as U.S. sanctions against Iran and Venezuela capped losses. Brent crude price edged down by 0.7% to $70.61 a barrel. The same decline was noticed in WTI futures, which ended at $63.98 a barrel.

read more... 10/04/2019

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Daily (09.04.2019): WTI crude at its 5-month high on Monday due to conflict in Libya

Crude oil prices increased on Monday, bolstered by concerns that civil unrest in Libya could lead to a tighter crude supply. OPEC’s production cuts as well as U.S. sanctions against Iran and Venezuela also supported prices. Brent crude price rose by 1.1% to $71.10 a barrel. Meanwhile, WTI futures hiked by 2.1% to $64.40 a barrel, after data showed a drop in the crude inventories at the WTI delivery point in Cushing, Oklahoma.

read more... 09/04/2019

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