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Daily (25.05.23): Oil prices increased by 2% on Wednesday amid OPEC supply cut speculations
Falling U.S. stockpiles and warning from the Saudi energy minister that OPEC+ could reduce its production weighted on oil prices on Wednesday. Brent and WTI crude rose by 2% to settle at $78.36 and $74.34 a barrel respectively.
read more... 25/05/2023
Daily (24.05.2023): Crude oil prices rose by 1% on Tuesday amid concerns over tightening supply
Crude oil prices extended gains on Tuesday amid expected weak gasoline market and after Saudi energy minister warned about increased prospect of further OPEC+ outputs cuts. Hence, Brent crude ended at $76.84 a barrel, posting an 1.2% rise. Meanwhile, WTI crude rose by 1.2% to close at $72.9 a barrel.
read more... 24/05/2023
Daily (23.05.2023): European spot electricity prices rocketed by around 50% on Monday amid expectations of lower wind energy generation
Brent crude increased by 0.5% to $75.99 a barrel on Monday as oil demand is expected to rise in the second half of the year and amid declining supplies from Canada and OPEC+. WTI crude traded 0.7% higher at $72.1 a barrel.
read more... 23/05/2023
Daily (26.04.2023): European carbon prices fell to a 3-month low on Tuesday amid continued selling pressure
Oil prices tumbled to their lowest level since late March before the announcement of a production cut by OPEC+. As a result, Brent and WTI crude declined by more than 2% day-on-day, to settle at $80.77 and $77.07 a barrel respectively as risk appetite has affected the market.
read more... 26/04/2023
Daily (12.04.2023): A bullish energy complex on Tuesday after Easter Holidays
Crude oil prices increased on Tuesday, boosted by an unexpected build in US inventories. Demand optimism and last week's announced OPEC+ cuts counterbalanced ongoing worries about economic slowdown in the West. Hence, Brent crude soared by 1.7% to settle at $85.61 a barrel. WTI crude ended 2.2% higher at $81.53 a barrel.
read more... 12/04/2023