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Daily (27.02.2019): Brent crude rebounded on Tuesday on OPEC’s strong commitment to continue production cuts

Crude oil prices resumed their upward trend on Tuesday, stimulated by OPEC’s intention to proceed with production cuts until inventories will decrease to their five-year average, despite President Trump’s recent tweet. U.S. Sanctions on Venezuela and the official decision to restart Libya’s largest oilfield, EL Sahara, also lent support to prices. Brent oil rose by 0.7% to $65.21 a barrel. Meanwhile, WTI futures struggled to pare earlier losses in a stabilizing market, settling at $55.50 a barrel.

read more... 27/02/2019

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Daily (26.02.2019): EU carbon prices rebounded on Monday after last week’s 2.5-month low

Crude oil prices reversed earlier gains on Monday, after President Trump claimed a slower oil pricing approach from OPEC as crude prices reached an excessively high level. Brent crude tumbled by 3.5% to 64.76 USD/bbl, while WTI futures dropped by 3.1% to 55.48 USD/bbl.

read more... 26/02/2019

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Daily (22.02.2019): Carbon prices plummeted by over 8% due to bearish concerns

Oil prices edged slightly down on Thursday after EIA reported a record level of U.S. crude oil inventories and crude exports since the start of 2018, amid ongoing concerns about slower global economic growth. However, the losses were limited by OPEC’s output cuts, U.S. sanctions on Venezuelan and Iranian oil imports, as well as the advancing U.S.-China trade talks. Brent oil almost steadied at $67.07 a barrel, while WTI crude was 0.4% down at $56.96 a barrel.

read more... 22/02/2019

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Daily (21.02.2019): Oil prices hit new peaks on Wednesday, due to OPEC-supply cuts and US sanctions against Iran and Venezuela

Oil prices firmed on Wednesday, supported by output cuts from OPEC, U.S. sanctions against Iran and Venezuela, as well as strong equity markets. However, the sluggish global economic outlook could further weigh on prices. As a result, Brent crude climbed by 1% to 67.08 USD/bbl, while WTI futures rose by 1.9% to 57.16 USD/bbl.

read more... 21/02/2019

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Daily (20.02.2019): The German spot power price jumped by over 10% influenced by weaker wind power production

After hitting 2019 highs, oil prices calmed on Tuesday, as concerns about global crude oil demand, and uncertainty around U.S.-China trade talks, counterbalanced OPEC’s supply cuts and U.S. sanctions on Venezuela and Iran.  Brent crude settled 0.1% lower at 66.45 USD/bbl, whereas WTI futures inched up by 0.1% to 56.09 USD/bbl.

read more... 20/02/2019

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