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Daily (06.07.2021): Brent crude neared 3-year high above $77 on Monday amid OPEC impasse, while European coal price marked a new decade high
Oil prices climbed on Monday, with Brent crude trading above $77 a barrel, the highest level since October 2018 following the indefinite postponement of the much-expected meeting of OPEC and non-OPEC ministers. Hence, Brent crude rose by 1.3% to settle at $77.16 a barrel. U.S. WTI crude settled at $76.34 a barrel, posting a 4.7% rise day-on-day.
read more... 06/07/2021
Daily (05.07.2021): German and French spot plummeted by around 13% on Friday amid forecasts for strong wind generation
Crude oil prices ended on a mixed note on Friday awaiting the outcome of a meeting of the OPEC and its allies after a dispute emerged over plans to further ease production curbs through the end of the year. In this context, Brent crude edged 0.4% higher to settle at $76.17 a barrel. Meanwhile, the American WTI closed rather flat at $75.16 a barrel.
read more... 05/07/2021
Daily (29.06.2021): British gas prices retreated on Monday amid improved supply from Norway and despite strong carbon prices
Crude oil prices opened the week on the back foot after the oil market hit a three-year high on Friday. Increasing number of the new so-called Delta variant and expectations that OPEC+ producers will boost supply at an upcoming meeting put pressure on crude prices on Monday. Hence, Brent crude shed by 2% to settle at $74.68 a barrel. U.S. WTI crude ended at $72.91 a barrel, falling by 1.5% day-on-day.
read more... 29/06/2021
Daily (15.06.2021): Near-term electricity prices in Europe hit multi-year highs on Monday amid low wind, heat
Crude oil prices moved sideways on Monday, with the market still focused on the coronavirus recovery around the world, but the prolonging of restrictions in the UK tempered the gains. In the U.S., prices retreated slightly as the market seemed to focus on the next monetary policy meeting of the U.S. Central Bank (Fed), which begins on Tuesday. Hence, Brent crude rose slightly by 0.2% to settle at $72.86 a barrel. Meanwhile, U.S. WTI crude steadied at $70.88 a barrel.
read more... 15/06/2021
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Rosneft begins hunt for contractors for massive Vostok Oil project
Rosneft has kicked off meetings with foreign contractors and suppliers for its massive Vostok Oil project, the Russian energy producer said on Monday.
read more... 08/06/2021