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Daily (14.07.2020): EUAs hit on Monday their highest levels since April 2006 amid speculative buying
Crude oil futures declined by about 1% on Monday as the market waited for direction ahead of OPEC meeting later this week that is expected to recommend an increase in output starting in August amid signs that demand is returning to normal levels following coronavirus-related lockdowns. The potential return of Libyan crude added further pressure to oil markets. Hence, Brent crude declined by 52 cents to settle at $42.72 a barrel. Meanwhile, U.S. WTI crude slipped by 45 cents to end at $40.10 a barrel.
read more... 14/07/2020
Daily (07.07.2020): The German Cal’21 power climbed to a 20-week high on Monday, keeping the pace with EUAs above 30 Eur
Crude oil futures edged higher on Monday, supported by a string of data showing an economic recovery across the globe and amid improving OPEC+ compliance. However, oil continued to be pressured by the surging coronavirus cases. Hence, Brent crude from September delivery rose by 0.7%, or 30 cents, to settle at $43.10 a barrel. At the same time, U.S. WTI crude settled at $40.63 a barrel, up 1% day-on-day.
read more... 07/07/2020
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Daily (06.07.2020) NBP spot plunged by almost 5% on Friday influenced by an upward revision of the French nuclear output.
Crude oil prices lost momentum on Friday, on renewed fears over global fuel demand as U.S reported a surge in coronavirus cases. Nevertheless, signs of improving global economy and OPEC+ record high supply cuts limited the loss. As a result, Brent crude decreased by 0.8% to $42.80 a barrel. Similarly, WTI futures traded 1% lower at $40.24 a barrel.
read more... 06/07/2020
Russia's Novak sees global oil output cuts easing from August
Russian Energy Minister Alexander Novak said on Thursday that the OPEC+ group of oil producers is expected to start easing oil output cuts from August as previously agreed.
read more... 06/07/2020
Daily (22.06.2020): The German Cal'21 power price reached 40€ on Friday for the first time since March amid stronger oil and coal prices
Crude oil futures gained ground on Friday amid encouraging signs of demand recovery as OPEC and its allies are fully committed to cut production. Hence, Brent crude for August delivery rose by 68 cents, or 1.6%, to settle a barrel at $42.19 a barrel. At the same time, U.S. WTI crude for July delivery soared by 91 cents, or 2.3%, to end $39.75 a barrel. For the week, Brent crude rallied by 8.9%, while WTI jumped by 9.6%.
read more... 22/06/2020