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Daily (11.08.2020): Oil prices started the week on a front foot amid Saudi Aramco's demand optimism, upbeat Chinese economic data
Crude oil futures were on the front foot at the beginning of the week, driven by optimistic remarks about demand from the CEO of the world's largest oil company, Aramco and positive economic data from China. In this context, Brent crude for October delivery rose by 59 cents, or 1.3%, to settle at $44.99 a barrel on ICE Futures Europe. At the same time, U.S. WTI crude for September delivery soared by 72 cents, or 1.8%, to close at $41.94 a barrel on the New York Mercantile Exchange.
read more... 11/08/2020
Daily (24.07.2020): Crude oil prices fell by about 2% on Thursday amid coronavirus demand concerns, weak U.S. jobs numbers
Crude oil futures continued to fall on Thursday, dragged down by data showing a surprise rise in U.S. crude stockpiles, renewed tensions between the United States and China, as well as the growth of U.S. jobless rate. However, the alarming increase of the U.S. coronavirus cases added further pressure on oil prices. Consequently, Brent crude for September delivery fell by 98 cents or 2.2%, to settle at $43.31 per barrel. Meanwhile, U.S. WTI crude declined by 83 cents or 2%, to close at $41.07 per barrel.
read more... 24/07/2020
Daily (22.07.2020): Oil prices rallied to their highest levels since early March amid EU stimulus deal, vaccine hopes
Crude oil futures rallied to their highest levels since 6 March amid positive news about the world’s ability to address the COVID-19 pandemic and the unprecedented EU stimulus package to support economies hit by the pandemic. Hence, Brent crude for September delivery soared by $1.04, or 2.4%, to settle at $44.32 barrel. At the same time, U.S. WTI crude surged by 4%, to end at $41.92 a barrel.
read more... 22/07/2020
Daily (21.07.2020): German Cal’21 dropped to 2-week low on Monday amid a bearish energy complex
Crude oil prices diverged on Monday, with U.S. WTI crude remaining anchored near $40 a barrel as players got caught between the continued surge in U.S. coronavirus cases and news indicating progress in COVID-19 vaccine. Brent crude for September delivery added 0.3%, to settle at $43.28 a barrel, supported by hopes that EU leaders will agree on a recovery fund. Meanwhile, U.S. WTI crude declined by 0.7%, to end at $40.29 a barrel.
read more... 21/07/2020
Daily (17.07.2020): EUAs plummeted by over 7% on Thursday due to robust auction supply
Crude oil futures fell by about 1% on Thursday, but held above the $40 mark amid a weaker demand outlook underscored by the OPEC+ alliance’s decision to ease production cuts from August. Moreover, resurgent coronavirus cases in the U.S. weighed on oil prices. Hence, Brent crude for September delivery declined by 42 cents, to settle at $43.37 a barrel. At the same time, U.S. WTI crude slipped by 45 cents, to close at $40.75 a barrel.
read more... 17/07/2020