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Daily (01.06.2021): Brent crude nears $70 a barrel as demand outlook improves
Oil prices gained ground on Monday, with Brent crude for August delivery rising by 0.5% at $69.32 a barrel amid growing demand expectations for the rest of the year, as lockdown measures are gradually withdrawn in large parts of the western world. Meanwhile, U.S. WTI crude increased by 0.9% at 66.90 a barrel. British gas contracts did not trade on Monday due to the Spring bank holiday.
read more... 01/06/2021
Daily (31.05.2021): French and German spot power prices tumbled by around 23% on Friday driven by expectations on surging renewable output
Oil prices diverged on Friday as the Iranian supply concerns and Asian pandemic situation put pressure on WTI crude price. As such, it fell by 0.8% to end at $66.32 a barrel. In contrast, Brent crude settled slightly higher on Friday at $69.63 a barrel amid improving demand outlook and strong economic data.
read more... 31/05/2021
Daily (28.05.2021): CO2 prices fell by over 3% on Thursday amid a weak complex, the release of UK ETS
Crude oil prices increased on Thursday, with Brent crude trading just below $70 a barrel as the potential of increased Iranian supply due to the lifting of US sanctions on the country was not been able to offer any direction to the market. Hence, Brent crude rose by 0.9% to settle at 69.46 a barrel. Meanwhile, U.S. WTI crude moved 1% higher at 66.85 a barrel.
read more... 28/05/2021
Daily (27.05.2021): Oil prices continued to rise on Wednesday amid lower U.S. crude inventories
The Energy Information Administration reported on Wednesday that U.S. crude inventories dropped by 1.7 million barrels for the week ended May 21, overshadowing concerns over the prospects for a return of Iranian crude supplies to the global market. Thus, Brent crude edged 0.3% higher at $68.87 a barrel, while the Amercian WTI crude closed 0.2% higher at $66.21 a barrel.
read more... 27/05/2021
Daily (26.05.2021): British gas prices moved upwards on Tuesday amid supply concerns, low storage and bullish carbon prices
Crude oil prices move a shade higher on Tuesday following the massive fluctuations last week and at the beginning of this week, with traders keeping an eye on developments in talks aimed at reviving the Iran nuclear deal. The approaching high season for oil and lifting restrictions in much of Europe and the United States provide further support to oil prices. Hence, Brent crude added 0.3% to settle at $68.65 a barrel. Meanwhile, U.S. WTI crude ended rather flat at $66.07 a barrel.
read more... 26/05/2021