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Daily (15.07.2019): NBP spot surged by 4.7% on Friday, due to rising gas-for-power demand ahead of an expected 3-day hot spell
Crude oil prices slightly rose on Friday, after a tropical storm in the Gulf of Mexico caused disruptions in the local production, while tensions between Iran and the West continued to mount. Consequently, Brent crude traded 0.3% higher at $66.72 a barrel. However, forecasts for a global oil supply glut from the International Energy Agency and OPEC limited the gains, with WTI futures remaining almost flat at $60.21 a barrel.
read more... 15/07/2019
Daily (10.07.2019): NBP spot declined by 3.7% on Tuesday, as a correction from the previous bullish session
Crude oil prices nudged up on Tuesday, due to OPEC+ supply cut extension and rising tensions in the Middle East. However, U.S.-China trade dispute limited the gains. As a result, Brent crude inched up by 0.1% to $64.16 a barrel, while WTI futures closed 0.3% higher at $57.83 a barrel.
read more... 10/07/2019
Daily (8.07.2019): NBP day-ahead jumped by 9.6% on Friday, due to outages at the Nyhamma gas plant
Oil prices reversed trend adding gains on Friday, bolstered by the rising tensions in Iran and a decision by OPEC and its allies to extend oil supply cuts until next year. Nevertheless, weak manufacturing data from around the globe limited oil gains. As a result, Brent crude climbed by 1.5% to $64.23 a barrel, while WTI futures inched up by 1.3% to $57.51 a barrel.
read more... 08/07/2019
Daily (05.07.2019): EU carbon prices dropped by around 1.8% on Thursday in a weaker auction
Crude oil prices declined in a thin trading due to a public holiday in the U.S. on Thursday, influenced by a smaller-than-anticipated drop in the U.S. crude inventories. Concerns of a scarce demand stoked by weaker U.S. factory orders and slower business growth in Europe also weighed on prices. However, this week’s decision on the extension of OPEC+ output cuts limited losses. Against that background, Brent crude lost 0.8% to settle at $63.30 a barrel, while WTI futures ended 0.9% lower at $56.80 a barrel.
read more... 05/07/2019
Daily (03.07.2019): Crude oil prices fell by over 4% on Tuesday, weighed by demand worries
Crude oil prices posted an important loss on Tuesday, pressured by global oil demand concerns raised by weaker factory activity in Europe and Asia in June as well as by downbeat U.S. manufacturing data nearing a three-year low. Moreover, investors seemed to be rather disappointed that OPEC didn’t agree on larger output cuts. As a result, WTI futures plunged by 4.8% to $56.25 a barrel, while Brent crude tumbled by 4.1% to $62.40 a barrel.
read more... 03/07/2019