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Daily (20.05.2024): Oil prices increased by 1% on Friday, driven by encouraging indicators of growing demand from both China and the US
Oil prices increased on Friday due to indications of rising demand in major consumers, the US and China. China's industrial production surged by 6.7% year-on-year in April, potentially increasing demand. Additionally, severe forest fires in western Canada endangered the oil-producing town of Fort McMurray, which outputs over 2 million barrels daily. As a result, Brent crude rose by 1%, closing just below $84 a barrel, while WTI crude also climbed 1%, hovering around $80 per barrel.
read more... 20/05/2024
Daily (17.05.2024): Gas prices recovered on Thursday amid scheduled Norwegian maintenance and reduced LNG arrivals
Oil prices rose on Thursday, bolstered by a decline in U.S. crude inventories and the anticipation of a rebound in gasoline demand in the coming weeks in the United States. Thus, Brent crude rose by 0.6% to settle at $83.27 per barrel. WTI crude traded around 1% higher to close at $79.23 per barrel.
read more... 17/05/2024
Daily (16.05.2024): European carbon prices fell on Wednesday amid persistent selling pressure and reduction in investment funds' short position
Wednesday saw an uptick in oil prices, propelled by renewed optimism regarding the potential for China's economic recovery to stimulate demand for the remainder of the year. Hence, Brent crude settled 0.5% up at $82.75 per barrel, while WTI crude stood at $78.63 per barrel, increasing by about 1% day-on-day.
read more... 16/05/2024
Daily (15.05.2024): Oil prices declined by over 1% on Tuesday despite bullish OPEC outlook
Oil prices fell on Tuesday as signs of lower consumption in the US and a stronger dollar offset the risk premium associated with the Middle East situation and bullish OPEC outlook. As a result, Brent crude stood at $82.38 per barrel, while WTI crude settled slightly above $78 per barrel, with both contracts falling by more than 1% day-on-day.
read more... 15/05/2024
Daily (14.05.2024): Carbon prices fell at their lowest level since May 1st amid extended sell-offs
On Monday, oil prices rebounded after a series of Ukrainian strikes on Russian storage and refining sites, along with signs of strengthening demand in the United States. Hence, Brent crude slightly rose by 1% to $83.36 per barrel, and WTI crude increased by 1 % $79.12 per barrel.
read more... 14/05/2024