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Daily (10.04.2020): Oil prices turned bearish on Thursday due to traders’ skepticism towards the OPEC historic deal

Oil futures fell sharply on Thursday as the traders doubted that the OPEC+ agreement to cut oil output by 10 million barrels per day would be enough to offset the massive destruction of the demand hit by the coronavirus pandemic.

read more... 10/04/2020

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Daily (09.04.2020): WTI crude jumps by over 6% on Wednesday, due to a potential supply cut agreement between OPEC and its allies.

Crude oil prices added ground on Wednesday, due to a potential supply cut deal this week between OPEC and its allies including Russia. Consequently, Brent crude rose by 3% to $32.84 a barrel. The news that U.S oil output was declining without government’s intervention also supported oil prices. As a result, WTI futures jumped by 6.2% to $25.09 a barrel.

read more... 09/04/2020

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Daily (07.04.2020): European year-ahead power prices soared on Monday due to an aggressive increase in carbon prices

Oil prices started the week on a back foot after a postponement to Thursday of a meeting between OPEC and its allies aimed at reducing the excess supply of black gold on the world market. Hence, Brent crude for June delivery fell by $1.06, or 3.1%, to settle at $33.05 a barrel on ICE London. Meanwhile, U.S. WTI crude decreased by 2.26, or 8%, to end at $26.08 on NYMEX. The two benchmarks saw a recovery last Thursday and Friday due to signals of new production cuts sent by Russia and Saudi Arabia.

read more... 07/04/2020

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Daily (06.04.2019): Brent crude jumped by nearly 14% on Friday, on hopes for new output cuts by world oil leaders

Crude oil prices rebounded on Friday, marking the first weekly rise in more than a month, after OPEC leader, Saudi Arabia, announced the willingness to have an emergency meeting to potentially cut oil supplies and solve the oil price war. Consequently, Brent crude for June delivery traded 13.9% higher at $34.11 a barrel. Similarly, WTI futures spiked by 11.9% to $28.34 a barrel.

read more... 06/04/2020

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Daily (03.04.2020): Brent and WTI surged by 21% and 25% respectively on Thursday as Trump signalled the price war might end soon

Crude oil futures increased considerably on Thursday, posting their biggest spike in a single session following a message from Donald Trump promising a reduction in Russian and Saudi production to rebalance the black gold market devastated by the covid-19 pandemic. At the same time, Saudi Arabia called for an urgent meeting of the OPEC and other countries, including Russia, to re-establish a balance in the oil markets.

read more... 03/04/2020

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