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Daily (12.09.2019): WTI crude lost almost 3% on Wednesday, on news that U.S. might ease sanctions on Iran
Crude oil prices declined on Wednesday, as U.S. administration could ease sanctions against Iran, thereby inflate global supplies. At the same time, both OPEC and EIA slashed demand forecasts this week. Consequently, WTI crude dropped by 2.9% to $55.75 a barrel, while Brent oil decreased by 2.5% to $60.81 a barrel.
read more... 12/09/2019
Daily (25.06.2019): The EUAs spiked by 4.2% to a one-month peak on Monday, amid technical buying and higher thermal generation
Oil prices diverged on Monday. Brent crude setlled 0.5% lower at $64.86 a barrel on returning concerns over a scarce crude demand, with traders awaiting the outcome of the G20 summit at the end of this week. Meanwhile, WTI futures rose by 0.8%, to $57.90 a barrel, as the prospect of tighter oil supply worsened after U.S. President Donald Trump imposed new sanctions on Iran in the context of ongoing fears of a military conflict between the U.S. and Iran. Expectations of extended oil output cuts from OPEC and its allies after their meetings on July 1-2 helped balance the market.
read more... 25/06/2019
BP sanctions Thunder Horse South expansion phase 2 project
Oil and gas giant BP said that it will move ahead with the Thunder Horse South expansion phase 2 project in the US Gulf of Mexico to draw an additional 50,000 gross barrels of oil equivalent per day (boe/d) from the Thunder Horse oil field.
read more... 08/05/2019
Daily (06.05.2019): NBP spot price surged by 1.2% on Friday, due to cooler weather
Oil prices rose slightly on Friday supported by positive U.S. economic data. At the same time, output losses in Iran and Venezuela hit by US sanctions tightened the market. Even if Brent crude edged 0.1% higher at $70.85 a barrel, it nevertheless posted a 1.8% weekly decline.
read more... 06/05/2019
Daily (02.05.2019): The German spot power price soared by 49% on Wednesday, on forecasts for cold weather and low wind output
Oil prices declined on Wednesday, after EIA data showed a new record level of oil production since September 2017 and a surge in the crude inventories in the U.S. Brent crude lost 0.9% to trade at $72.18 a barrel, while WTI futures edged 0.5% lower at $.63.60 a barrel. Nevertheless, the losses were limited by the prospect of a weaker oil supply due to increasing unrest in Venezuela and the end of U.S. sanction waivers on countries importing Iranian oil.
read more... 02/05/2019