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Daily (11.04.2019): The EU carbon prices hit a new 11-year high on Wednesday on Brexit delay optimism

Crude oil prices increased on Wednesday, after EIA report showed that U.S. gasoline stocks plunged more than expected last week, offsetting the surging crude inventories. OPEC’s oil production at four-year low in March coupled with U.S. sanctions on Iran and Venezuela lent more support to prices. Brent crude price rose by 1.6% to $71.73 a barrel, while WTI futures traded 1% up at $64.61 a barrel.

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Daily (10.04.2019): NBP spot soared by over 10% on Tuesday amid system undersupply

Crude oil prices pared earlier gains on Tuesday, following an unexpected increase in U.S. crude inventories and Russia’s comments on a potential rise in its oil production after OPEC’s meeting in June. However, OPEC-led supply cuts as well as U.S. sanctions against Iran and Venezuela capped losses. Brent crude price edged down by 0.7% to $70.61 a barrel. The same decline was noticed in WTI futures, which ended at $63.98 a barrel.

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Daily (09.04.2019): WTI crude at its 5-month high on Monday due to conflict in Libya

Crude oil prices increased on Monday, bolstered by concerns that civil unrest in Libya could lead to a tighter crude supply. OPEC’s production cuts as well as U.S. sanctions against Iran and Venezuela also supported prices. Brent crude price rose by 1.1% to $71.10 a barrel. Meanwhile, WTI futures hiked by 2.1% to $64.40 a barrel, after data showed a drop in the crude inventories at the WTI delivery point in Cushing, Oklahoma.

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Daily (08.04.2019): NBP contracts on the curve posted strong gains on Friday amid a bullish energy complex

Friday saw an upward evolution in oil prices, after optimistic U.S. employment data eased concerns over a waning crude oil demand. A potential decline in oil supplies amid the escalating conflict in Libya and the ongoing progress in U.S.-China trade talks also supported prices. Brent crude price jumped by 1.4% to $70.34 a barrel, hitting a second consecutive week of gains. WTI futures recorded a fifth straight weekly hike, trading 1.6% up at $63.08 a barrel.

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Daily (05.04.2019): European power prices on the curve climbed by over 3% on Thursday following bullish carbon market

Oil prices varied on Thursday. Brent crude edged 0.1% higher at $69.40 a barrel on tightening global supply due to U.S sanctions on Iran and Venezuela, as well as OPEC-led output cuts. Meanwhile, WTI futures declined by 0.6% to $62.10 a barrel on rising production and higher crude inventories.

read more... 05/04/2019

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