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Daily (28.03.2019): WTI futures declined by nearly 1% after unexpectedly higher U.S. crude stockpiles data

Crude oil prices lost ground on Wednesday, following EIA data which showed higher-than-anticipated crude inventories in the U.S. last week due to hampered crude cargoes traffic along the Houston Ship Channel and slower refining operations. The fall in prices was nevertheless limited by OPEC’s supply cuts and the disruption in Venezuelan exports caused by the second massive power blackout this month. Brent crude traded 0.2% down at $67.83 a barrel, while WTI futures lost 0.9 % to end at $59.41 a barrel.

read more... 28/03/2019

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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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