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Daily (27.04.2021): Oil prices ended with a slightly bearish sentiment on Monday amid increasing COVID-19 figures in Asia
Crude oil prices corrected slightly lower on Monday as the resurgence of COVID-19 cases in Japan and India set a sour tone for oil trading. The losses were limited after OPEC+ joint technical committee (JTC) has kept its forecast for growth in global oil demand this year. Hence, Brent crude slipped by 0.7% to $65.65 a barrel. Meanwhile, U.S. WTI crude eased by 0.4% to $61.91 a barrel.
read more... 27/04/2021
Daily (26.04.2021): Crude oil prices gained 1% on Friday due to a halt in Libyan exports
Crude oil prices closed higher on Friday, supported by disruptions in Libyan supply. A state of force majeure on one of the main oil terminals in Libya was declared by the NOC, thus interrupting the country’s exports. As a result, Brent crude increased by 1.1% to $66.11 a barrel and WTI oil rose by 1.2% to $62.14 a barrel.
read more... 26/04/2021
Daily (23.04.2021): Front-year European power prices at multi-year record highs as carbon topped 47 EUR/t on Thursday
Oil prices saw a neutral session on Thursday, but optimism about oil demand recovery amid easing European lockdowns offset a growing number of Covid-19 cases in major consumers such as India. Hence, Brent crude ended rather flat at $65.40 a barrel. Meanwhile, U.S. WTI crude steadied at $61.43 a barrel.
read more... 23/04/2021
Daily (22.04.2021): Crude oil prices lost 2% on Wednesday, influenced by an increase in US crude stocks
Crude oil prices were bearish on Wednesday, pressured by an increase in US commercial crude stocks. Furthermore, concerns over the number of Covid-19 infections which limits global consumption also weighed on prices. As such, Brent oil lost 1.9% to close at $65.32 a barrel and WTI crude fell by 2.1% to $61.35 a barrel.
read more... 22/04/2021
Daily (21.04.2021): EUAs set a new record high on Tuesday amid strong auction
Oil prices retreated on Tuesday as a sharp increase in COVID-19 infections in India, Asia’s third-largest economy raised worries about demand recovery. Hence, Brent crude lost 0.7% to settle at $66.57 a barrel. Meanwhile, U.S. WTI crude declined by 1.1% to end at $62.67 a barrel amid a surprise API inventory build.
read more... 21/04/2021