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Daily (08.08.2023): Germany recorded seven hours of negative power with a low of -9.99 EUR /MWh amid elevated wind output
Crude oil prices fell on Monday as a result of reduced demand for gasoline in the US, following the end of the summer driving season. Furthermore, the expansion of Chinese strategic oil reserves added downward pressure on prices. Thus, Brent crude dropped by 1.1% to end at $85.34 a barrel. Meanwhile, U.S. WTI crude declined by over 1% to settle at $81.94 a barrel.
read more... 08/08/2023
Daily (07.08.2023): Oil prices extended gains on Friday after Saudi Arabia extended its production cuts until September
Oil prices climbed further on Friday, driven by tight supplies, as Saudi Arabia extended its cuts in production until September, while Russia followed its lead. Hence, Brent crude increased by 1.3% to $86.24 a barrel, while WTI crude advanced by 1.6% to settle at $82.82 a barrel.
read more... 07/08/2023
Daily (07.08.2023): Oil prices extended gains on Friday after Saudi Arabia extended its production cuts until September
Oil prices climbed further on Friday, driven by tight supplies, as Saudi Arabia extended its cuts in production until September, while Russia followed its lead. Hence, Brent crude increased by 1.3% to $86.24 a barrel, while WTI crude advanced by 1.6% to settle at $82.82 a barrel.
read more... 07/08/2023
Daily (04.08.2023): Crude prices rose by over 2% on Thursday as Saudi Arabia and Russia are keeping supply tight
On Thursday, crude oil prices rose due to measures taken by Saudi Arabia and Russia to ensure a tight supply into September, and potentially further. Hence, Brent crude surged by 2.3% to $85.14 a barrel, while WTI crude increased by about 2.6% to settle at $81.55 a barrel.
read more... 04/08/2023
Daily (03.08.2023): Oil prices fell on Wednesday, due to a lack of risk appetite in the face of US interest rate hikes
Oil prices fell on Wednesday despite a sharp drop in U.S. crude inventories, driven by a lack of risk appetite in the face of rising interest rates after Fitch downgraded the U.S. debt rating. Thus, WTI crude dropped by 2.3% at $79.49 a barrel, while Brent crude decreased by 2% to settle at $82.20 a barrel.
read more... 03/08/2023