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Daily (19.06.2020): EUAs broke key technical resistance levels, to trade above €24 on Thursday amid speculator sentiment, bullish auction result
Crude oil futures climbed on Thursday following the OPEC+ monitoring panel meeting that emphasized the critical importance of adhering to full conformity. However, additional coronavirus cases reported in parts of the United States and China added to market jitters. Hence, Brent crude for August delivery soared by 80 cents, or 2%, to settle at $41.51 a barrel. At the same time, U.S. WTI crude settled at $38.84 a barrel, up 88 cents, or 2.3%.
read more... 19/06/2020
Daily (16.06.2020): NBP spot jumped by 6% on Monday amid weaker LNG supply and wind power generation
Crude oil futures turned bullish on Monday as signs of improving demand due to OPEC+ production cut agreement offset concerns that a resurgence of the virus could weigh on the global economy. Hence, Brent crude for August delivery soared by 99 cents, or 2.6%, to settle at $39.72 a barrel. At the same time, U.S. WTI crude for July delivery rose by 86 cents, or 2.4%, to end at $37.12 a barrel.
read more... 16/06/2020
Daily (10.06.2020): British near-term gas prices lost ground on Tuesday despite a cut in Norway gas flows
Crude oil prices edged higher on Tuesday as the extension of OPEC+ output cuts on Saturday counterbalanced worries that resurgent coronavirus cases in the US could hit the oil demand recovery, which is still fragile. Hence, Brent crude for August delivery rose by 38 cents, or 0.9%, to settle at $41.18 a barrel. At the same time, U.S. WTI crude gained 75 cents, or 2%, to end at $38.94 a barrel.
read more... 10/06/2020
Daily (09.06.2020): European spot electricity prices returned at pre-lockdown levels on Monday amid higher demand, lower renewables and nuclear output
Crude oil futures lost ground on Monday despite OPEC+ cuts as traders switched their focus on the announce that top producer Saudi Arabia and Gulf producers are not willing to extend cuts after June. Hence, Brent crude for August delivery fell by $1.50, or 3.6%, to settle at $40.80 a barrel. At the same time, U.S. WTI crude shed by $1.36, or 3.4%, to end at $38.19 a barrel.
read more... 09/06/2020
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Daily (08.06.2020): Crude oil futures settled at 3-month highs on Friday on U.S. jobless drop, OPEC meeting hopes
Crude oil futures rallied on Friday, to close at their highest level since March 6, spurred by AN OPTIMISTIC U.S. jobs report and ON hopes that OPEC+ producers will extend its production cuts for another month at its virtual meeting on Saturday.
read more... 08/06/2020