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Daily (01.09.2017): European carbon prices dropped by 1.3% on Tuesday, below €6 level
Oil prices rose slightly on Thursday, contrary to the expectations of the OPEC, as oil traders focused more on Hurricane Harvey’s hit on oil demand than the impact of supply disruptions. For some veteran OPEC officials, Hurricane Harvey’s impact on global oil markets was quite strange, as the storm has led to some of the biggest disruptions to U.S. energy infrastructure, but failed to boost strongly the crude prices. Brent crude ended $1.52, or almost 3% up at $52.38, while the WTI price grew by 2.76% at $47.23 a barrel.
read more... 01/09/2017
Daily (18.08.2017): European carbon prices hit €6 on Thursday to reach a new 5.5-month high
Oil prices rose on Thursday as the EIA data showed commercial U.S. crude stocks have dropped by almost 13%, being at present lower than in 2016. Traders consider that the oil market is becoming more balanced and U.S. stocks might fall below the 5-year average in next 2 months. However, increasing U.S. output has been undermining efforts by the OPEC and non-OPEC producers to drain a global fuel glut. Brent edged up by 1.5% to $51.03 a barrel, while WTI price surged by 0.66% to end at $47.09 a barrel.
read more... 18/08/2017
Daily (16.08.2017): Most of the UK wholesale gas prices slipped by 1-2% on Tuesday due to oversupplied system
Oil prices decreased during the first half of Tuesday’s trading session as ample supply from OPEC and the U.S. combined with the signs of weaker demand in China encouraged investors to sell long positions bought in July during a period of rising prices. Meanwhile, a recent report of a dip in Libyan output and a surge in the U.S. dollar had supported Brent. Brent closed the session 7 cents higher at $50.80 a barrel, while WTI price fell by 0.08% to end at $47.55 a barrel.
read more... 16/08/2017
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OPEC fails to reduce oil production, registers highest output of the year
OPEC oil output for July skyrocketed by 173,000 barrels a day to almost 32.9 million barrels, which once again proves that major oil producers can’t keep up with their plan to pump less oil.
read more... 11/08/2017
Daily (10.08.2017): European spot electricity prices rose sharply on Wednesday
Oil prices increased above $52 a barrel on Wednesday as U.S. crude inventories last week fell more than expected. This drop raised hopes that an OPEC-led effort to wipe out a 3-year, price-sapping supply glut is working. Brent surged by 1.07% to close at $52.70 a barrel, while WTI price rose by almost 0.8% to end at $49.56 a barrel.
read more... 10/08/2017