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Daily (01.07.2021): EUAs hovered near all-time highs on Wednesday on optimism about European reforms and higher gas prices
Oil prices rebounded on Wednesday as U.S. crude stockpiles fell last week for the sixth straight week. In addition, an OPEC report foresaw an undersupplied market this year, boosting crude demand. As a result, Brent crude edged 0.5% higher to end at $75.13 a barrel. The American WTI increased by 0.7% to settle at 73.47 a barrel.
read more... 01/07/2021
Daily (30.06.2021): EUAs hiked at fresh six-week highs on Tuesday amid bullish gas, upcoming carbon market reform
Crude oil prices stabilised on Tuesday, with the market still focused on the upcoming OPEC summit, where the organization is set to plan their output strategy for the coming months. Hence, Brent crude steadied at $74.76 a barrel. At the same time, U.S. WTI crude ended rather flat at $72.98 a barrel.
read more... 30/06/2021
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 (28.06.2021): Crude oil prices inched higher on Friday as global demand continue to rise
Oil prices rose to their highest since October 2018 on Friday as demand is expected to grow and it could outstrip supply. Moreover, OPEC+ will be prudent in returning more crude to the market from August. Thus, Brent crude gained 0.8% to settle at 76.18 $ a barel, while the U.S. crude WTI closed at $74.05 a barrel, or more than 1% higher.
read more... 28/06/2021
Daily (25.06.2021): Brent crude hovers at its highest level since October amid signs of strengthening demand
Oil prices ended modestly higher on Thursday, with Brent crude extending its rise to the highest price since October 2018 amid signs of strengthening demand and accelerating German economic activity. WTI crude was supported by drawdowns in U.S. inventories. Hence, Brent crude inched 0.5% higher at $75.56 a barrel. U.S. WTI crude rose by 0.5% to $73.30 a barrel.
read more... 25/06/2021