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Daily (08.06.2021): British gas prices gained ground on Monday amid muted wind, weak inventories and strong CO2 prices
Crude oil prices retreated on Monday as China’s crude imports slid by 15% year- on- year in May to a five-month low, heightening demand concerns. Hence, Brent crude eased by 0.6% to settle at $71.49 a barrel. Meanwhile, U.S. WTI crude slipped by 0.6% as well, to end at $69.23 a barrel.
read more... 08/06/2021
Daily (07.06.2021): Brent crude approached $72 a barrel on Friday amid prospects of solid demand and OPEC+ supply discipline
Crude oil futures increased on Friday, with Brent crude approaching $72 a barrel for the first time since 2019 amid prospects of solid demand and after OPEC+ has decided not to change its production planning for July, and instead will limit itself to a continuation of the previously decided gradual increase. Hence, Brent crude rose by 0.8% to settle at $ 71.89 a barrel. Meanwhile, U.S. WTI crude moved 1.2% higher at $69.62 a barrel.
read more... 07/06/2021
Daily (04.06.2021): French and German spot above 71 EUR/MWh on Thursday as renewable output wanes
Oil prices steadied as the slow roll-out of vaccinations and high infections rate in countries like Brazil and India counterbalanced demand prospects and US economic data. As such, Brent crude and WTI crude settled at $71.31 and at $68.81 a barrel respectively on Thursday.
read more... 04/06/2021
Daily (03.06.2021): Brent crude hit a nearly two-year high on Wednesday amid improving demand prospects
Oil prices continue to rise on Wednesday as expectations that global demand will increase, nourished by traders’ optimism. Moreover OPEC+ group decision to stick to their plan to gradually restore supply lent further support to prices. Thus, Brent crude posted a 1.6% gain to settle at $71.35 a barrel, hitting its highest level in nearly two years. At the same time, the American WTI rose by more than 1.6% to end $68.83 a barrel or its highest level since 2018.
read more... 03/06/2021
Daily (02.06.2021): Oil prices continue to climb, with Brent above $70 a barrel amid as OPEC+ sticks with plans to raise output
Crude oil futures extended gains on Tuesday as cartel OPEC+ agreed at its latest ministerial meeting to increase output as planned over the next two months. Hence, Brent crude increased by 93 cents, or 1.3%, to settle at $70.25 a barrel. U.S. WTI crude rose by 1.2% to end at $67.72 a barrel.
read more... 02/06/2021