Daily (31.07.2020): WTI crude slipped below $40 a barrel on Thursday amid bearish economic data, political uncertainty in the U.S.

31/07/2020 10:44 Daily

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Crude oil futures posted a steep decline on Thursday, with WTI crude slipping below $40 a barrel for the first time in three weeks, pressured by worries about resurgence in coronavirus cases and bearish U.S. economic data. Suggestions made by U.S. President Donald Trump that nation's November presidential election may be delayed added further pressure on oil prices. Hence, Brent crude decreased by 81 cents, or 1.9%, to settle at $42.94 a barrel. At the same time, U.S. WTI crude futures fell by $1.35, or 3.3%, to end at $39.92 a barrel.

The British day-ahead gas price tumbled by 3.4% to 12.75 p/therm on Thursday, restrained by plentiful supply and higher Norwegian gas flows. Further along the curve, the gas price for year-ahead delivery decreased by 1.9% to 32.46 p/therm, tracking lower carbon prices.


European spot power prices gained ground on Thursday, driven by expectations of lower renewable energy generation. As a result, the German day-ahead power price jumped by 8% to 38.51 p/therm, while the equivalent contract in France soared by 2.6% to 41.41 EUR/MWh.


Year-ahead power prices reversed previous gains amid a sliding carbon price, along with a pessimistic economic outlook on the back of fears of a second wave of the coronavirus. Thus, the German Cal’21 power traded 1.9% lower at 39.09 EUR/MWh, while the French Cal’21 power settled at 44.03 EUR/MWh, posting a 1.1% daily loss.


EUAs expiring in 2021 slumped by 2.5% to 25.90 EUR/tonne on Thursday, pressured by worse-than-expected GDP and corporate data.

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Daily (05.08.2020): Brent crude hit its highest settlement since early March on Tuesday, driven by the anticipation of a drop in U.S. stocks

05/08/2020 09:17:00

Crude oil futures rose for a third straight session on Tuesday, driven by tumbling dollar, hopes of a new economic stimulus package in the U.S. and expectations that U.S. stockpiles drop again. Hence, Brent crude added 28 cents, or 0.6%, to settle at $44.43 a barrel, its highest close since March 6 At the same time, U.S. WTI crude rose by 69 cents, or 1.7%, to end at $41.70, its highest settlement since July 21.

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Daily (04.08.2020): Oil prices added near 2% on Monday amid upbeat economic data

04/08/2020 10:52:00

Crude oil futures ended higher on Monday after a session start in the red as the rise in production from OPEC+ members came into effect, adding to the virus woes. However, oil prices got a boost from positive manufacturing and industrial data across the United States, Europe, and Asia. Hence, Brent crude soared by 63 cents, or 1.5%, to settle at $44.15 a barrel. U.S. WTI crude rose by 74 cents, or 1.8%, to end at $41.01 a barrel.

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