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Oil products caught between Covid and green push
Most forecasts for products demand and prices have been steadily revised upwards as vaccination programmes have got underway and this has created positive market sentiment, Argus' global head of oil products Stephen Jones told the forum held today during the IP Week conference. But, any actual demand recovery will depend on how quickly governments lift lockdown measures. One major unknown is how well the vaccines will deal with new variants of Covid-19.
read more... 24/02/2021
Daily (27.01.2021): Milder-than-normal weather forecasts dragged down European spot power prices on Tuesday
Crude oil futures ended on a mixed note on Tuesday amid persisting worries over coronavirus infection rates and indecision about the highly-anticipated $1.9 trillion Fed pandemic relief package. Hence, Brent crude steadied at $55.91 a barrel, while U.S. WTI crude lost 0.3% at $52.61 a barrel.
read more... 27/01/2021
Daily (30.12.2020): Gas prices surged on Tuesday, boosted by forecasts for lower temperatures
Crude oil prices edged higher on Tuesday, supported by an improved US economic stimulus plan. Despite concerns regarding demand for black gold, Brent oil gained 0.5% at $51.09 a barrel, while WTI crude ended 0.8% higher at $48.00 a barrel.
read more... 30/12/2020
Daily (23.12.2020): NBP near-term prices strongly bullish on Tuesday amid forecasts for colder weather and less wind
Crude oil prices ended lower again on Tuesday, weighed by investors’ fears on a possible decrease in global demand due to the new strain of coronavirus. Consequently, Brent crude weakened by 1.6% to $50.08 a barrel, while WTI oil lost 2% to close at $47.02 a barrel.
read more... 23/12/2020
Australia forecasts drop in coal output under pressure from Chinese curbs
China is the second-biggest buyer of Australia's thermal coal burned in power plants and metallurgical coal used to make steel
read more... 21/12/2020