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Daily (20.08.2021): The German and French spot power prices traded above 100 EUR/MWh due to forecasts for weaker wind generation
Concerns about demand due to the global spread of the Delta variant and a stronger dollar sent crude oil prices to their lowest levels since May. The Federal Reserve’s plans to pull back the pace of their monthly bond purchases strengthened the greenback, pressuring commodities markets on Thursday. As such, Brent oil tumbled by $1.78 or 2.6% to settle at $66.45 a barrel. The American WTI crude dropped by $1.77 or 2.7% to end at $63.69 a barrel.
read more... 20/08/2021
Daily (19.08.2021): Oil prices lost more than 1% on Wednesday, following an increase in US gasoline stocks
Crude oil prices weakened on Wednesday, weighed by an increase in US weekly gasoline stocks, as indicated by the EIA. Despite a decline in US crude reserves, Brent oil fell by 1.2% to $68.23 a barrel and WTI crude ended 1.7% lower at $65.46 a barrel.
read more... 19/08/2021
Daily (18.08.2021): Oil prices declined for the fourth day in a row on Tuesday, pressured by concerns over demand for black gold
Crude oil prices decreased slightly on Tuesday, on persisting concerns over Chinese demand amid weak economic data. Thus, Brent oil edged 0.7% down at $69.03 a barrel and WTI crude lost 1% to $66.59 a barrel.
read more... 18/08/2021
Daily (17.08.2021): EUAs strongly rebounded on Monday amid a bullish energy complex
Crude oil prices eased on Monday after data showed Chinese factory output and retail sales growth slowed sharply in July due to new restrictions. However, sources said that OPEC and its allies believe the markets do not need more oil than they plan to release in the coming months, limiting losses. As such, Brent crude fell by 1.7% to settle at $67.29 a barrel. At the same time, the American WTI lost 1.6% at $69.51 a barrel.
read more... 17/08/2021
Daily (16.08.2021): Oil prices lost 1% on Friday, on IEA's lowered forecast for global oil demand
Crude oil prices extended losses on Friday, on lowered forecasts for global oil demand from the IEA, due to the progression of the pandemic this year. Hence, Brent oil lost 1% at $70.59 a barrel and WTI crude fell by 0.9% to $68.44 a barrel.
read more... 16/08/2021