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Daily (16.09.2020): Oil prices ended higher on Tuesday as Hurricane Sally disrupted Gulf of Mexico energy production
Crude oil futures rebounded on Tuesday, buoyed by rising Chinese industrial production and Hurricane Sally which curbed the supply in the Gulf of Mexico. However, bearish forecasts for the energy demand released by the IEA helped to limit the upside for oil prices. Hence, Brent crude for November delivery soared by 92 cents, or 2.3%, to settle at $40.53 a barrel. Meanwhile, U.S. WTI crude for October delivery climbed by $1.02, or 2.7%, to settle at $38.28 a barrel. Both contracts fell on Monday.
read more... 16/09/2020
Daily (09.09.2020): Oil prices tumbled to their lowest level since June on Tuesday amid Saudi price cut, COVID-19 surge
Crude oil futures tumbled to their lowest settlement since June on Tuesday, with Brent plunging below $40 amid a persistent surge in coronavirus cases worldwide and after Saudi Arabia decided to cut its oil prices in October. The end of U.S. summer holiday driving season added further pressure on U.S. WTI price. Hence, Brent crude for November delivery fell by 5.3% to close at $39.78 a barrel. At the same time, U.S. WTI crude plummeted by 5.9% to end at $36.76 a barrel.
read more... 09/09/2020
Daily (08.09.2020): European carbon prices plummeted to two-weeks low on Monday amid expectations for hefty auction
Crude oil futures fell on Monday after Saudi Aramco slashed its October official selling prices for crude supplies to Asia and the U.S. As a result, Brent crude for November 2020 delivery dropped by 1.5% to settle at $42.01 a barrel. At te same time, U.S.WTI crude shed by 1.7% to end at $39.08 a barrel.
read more... 08/09/2020
Daily (07.09.2020): WTI spot dipped by around 4% on demand concerns
Oil prices tumbled on Friday, as Covid-19 crisis continues to weigh on oil consumption at a time when OPEC group and its allies are easing historic output cuts. Hence, Brent crude for November delivery fell by 3.2% to settle at $42.66 a barrel. While, WTI crude traded 3.9% lower at $39.77 a barrel.
read more... 07/09/2020
Daily (04.09.2020): Oil prices fell on Thursday, with Brent at its lowest settlement since July 31 amid gloomy demand outlook
Crude oil prices extended losses on Thursday amid persistent concerns about the demand outlook a day after weak U.S. gasoline demand data. The market picture remains focused on muted demand growth in the United States and elsewhere, while global producers began to bring more supply into the market last month. In this context, Brent crude for November delivery declined slightly by 36 cents, or 0.8%, to settle at $44.07 a barrel, the lowest settlement since July 31. U.S. WTI crude for October delivery lost 14 cents, or 0.3%, to close at $41.37 a barrel, the lowest level since August 7.
read more... 04/09/2020