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Daily (27.03.2019): European power prices surged by over 2% due to a bullish energy complex

Tuesday saw a steep rise in oil prices on Tuesday, on the back of OPEC-led output cuts and expectations for a decline in U.S. inventories ahead of weekly API data, which offset worries about a global economic slowdown. Moreover, the second power cut in Venezuela this month also boosted prices. WTI futures traded 1.9 % up at $59.94 a barrel, while Brent crude added 1.1% to close at $67.97 a barrel.

read more... 27/03/2019

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Daily (26.03.2019): NBP spot down by 2.5% on Monday due to stronger Norwegian flows

Oil prices had a mixed evolution on Monday, amid concerns over a potential decline in crude supply ahead of the weekly U.S. inventories data. WTI futures traded 0.4 % down at 58.82 USD/bbl. In the meantime, the Brent crude price edged 0.3% up at 67.21 USD/bbl, supported by steady OPEC’s production cuts and an improved German business climate index which eased the prospect of a recession in Europe's biggest economy.

read more... 26/03/2019

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Daily (25.03.2019): European power prices on the curve fell by around 0.8% on Friday amid a bearish energy complex

Weaker oil demand, the unhurried U.S.-China trade talks and last week’s dismal German and U.S. manufacturing data which revived concerns over a sluggish global economic growth weighed on oil prices on Friday. A stronger dollar put more pressure on prices. Brent crude traded 1.2% down at 67.03 USD/bbl, while WTI futures dropped by 1.6 % to 59.04 USD/bbl.

read more... 25/03/2019

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Daily (22.03.2019): NBP spot gas price dropped by almost 2% on Thursday, on robust supplies and milder weather

Crude oil prices slipped on Thursday, on weaker global demand and trade worries. However, losses were limited due to reduced global stocks, OPEC-led supply cuts and U.S. sanctions on Iran and Venezuela. Brent oil dipped by 0.9% to $67.86 a barrel, while WTI futures edged 0.4% lower at $59.98 a barrel.

read more... 22/03/2019

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Daily (21.03.2019): A sharp drop in crude inventories led to a 2% rise in WTI crude on Wednesday

Oil prices soared on Wednesday buoyed by U.S. government data that showed a sharp drop in crude inventories due to strong export and increasing refining demand. As such, Brent crude rose by 1.3% to $68.50 a barrel, while WTI futures traded 2% higher at $60.23 a barrel. Still, gains could be limited by concerns on the ongoing U.S.-China trade war and its effects on global demand.

read more... 21/03/2019

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