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Daily (11.11.2020): European Cal’21 power prices reversed gains on Tuesday as vaccine euphoria vanished
Crude oil prices continued to add ground on Tuesday amid optimism generated by a vaccine against COVID-19 and a possible intervention of OPEC + alliance. Moreover, bigger than expected weekly U.S. oil storage draws helped WTI to extend gains. Hence, Brent crude soared by $1.21, or 2.9%, to settle at $43.61 a barrel. Meanwhile, U.S. WTI crude increased by 1.07, or 2.7%, to end at $41.36 a barrel.
read more... 11/11/2020
Daily (04.11.2020): Oil prices hit their highest level in a week on Tuesday amid hopes OPEC will curb production
Oil prices continued to climb on Tuesday, hitting their highest levels in a week amid hopes for a new stimulus package following the US elections and that the supply of black gold will be restrained due to the intervention of the main producing countries. Hence, Brent crude for January delivery soared by 74 cents, or 1.9%, to close at $39.71 per barrel. Meanwhile, U.S. WTI crude for December delivery increased by 85 cents, or 2.3%, to settle at $37.66 per barrel.
read more... 04/11/2020
Daily (03.11.2020): Oil prices rebounded sharply on Monday as Russian producers may support OPEC extension of output cuts
Crude oil futures rebounded sharply on Monday after Russian oil producers declared that they may be willing to extend the OPEC+ oil output cut accord if current unsupportive market conditions persist. Hence, Brent crude surged by $1.51 or 4%, to close at $38.97 per barrel, while US benchmark WTI crude soared by $1.02 or 2.9% to settle at $36.81 a barrel.
read more... 03/11/2020
Israel And The UAE Sign Historic Oil Deal
Israel and the United Arab Emirates (UAE) signed this week a preliminary agreement under which crude oil from OPEC’s third-largest producer could be shipped to European markets via an oil pipeline in Israel connecting the Red Sea with the Mediterranean.
read more... 22/10/2020
Daily (20.10.2020): Colder weather and stronger LNG prices supported front-month British gas prices at the beginning of the new week
Crude oil futures continued to slip on Monday as the OPEC+ panel has made no new policy proposals from January 2021. Moreover, a resurgence of the coronavirus in Europe and the U.S. threatened to hinder a recovery in demand. Consequently, Brent crude slipped by 31 cents, or 0.7%, to settle at $42.62 a barrel. U.S. WTI crude ended rather flat at $40.83 a barrel.
read more... 20/10/2020