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Daily (23.10.2020): British front-month gas prices hit fresh 2020 highs on Thursday amid unplanned Norwegian outages
Crude oil futures climbed on Thursday amid hopes for a new coronavirus aid package and a drop in U.S. weekly jobless claims. Prices also found support after Russian President Vladimir Putin said that he would be ready to extend oil output cuts in the face of the Covid-19 pandemic. Hence, Brent crude for December delivery soared by 73 cents, or 1.8%, to settle at $42.46 a barrel. Meanwhile, WTI crude gained 61 cents, or 1.5%, to end at $40.64 a barrel.
read more... 23/10/2020
Daily (20.10.2020): Colder weather and stronger LNG prices supported front-month British gas prices at the beginning of the new week
Crude oil futures continued to slip on Monday as the OPEC+ panel has made no new policy proposals from January 2021. Moreover, a resurgence of the coronavirus in Europe and the U.S. threatened to hinder a recovery in demand. Consequently, Brent crude slipped by 31 cents, or 0.7%, to settle at $42.62 a barrel. U.S. WTI crude ended rather flat at $40.83 a barrel.
read more... 20/10/2020
Daily (14.10.2020): Oil jumps by 2% on Tuesday, amid upbeat oil trade data from China offsetting returning supply
Crude oil prices rose on Tuesday, supported by upbeat oil trade data from China. However, forecasts for a slow recovery in global oil demand as coronavirus cases rise, and returning supply, limited gains. Consequently, Brent crude climbed by 1.8% to $42.45 a barrel. WTI futures added 2% to close at $40.20 a barrel
read more... 14/10/2020
Daily (08.10.2020): EUAs hit a 2-week high on Wednesday, as the Parliament supported a stronger-than-expected 2030 climate target
Slightly larger-than-expected U.S. crude inventories and fading hopes for another stimulus package to support the coronavirus-hit economy weighed on oil prices declined on Wednesday Hence, Brent crude decreased by 1.6% to $41.99 a barrel. Meanwhile, WTI futures lost 1.8% to trade at $39.95 a barrel.
read more... 08/10/2020
Daily (07.10.2020): Oil prices continued to climb on Tuesday amid widening strike in Norway, hurricane supply disruptions
Crude oil futures surged over 3% on Tuesday, spurred by widening strike of oil workers in Norway, and the start of evacuations from oil platforms in the Gulf of Mexico ahead of the expected arrival of Hurricane Delta. Additionally, the return of the president to the White House to continue his coronavirus treatment triggered a general rally in asset markets. Hence, Brent crude for December delivery soared by $1.36 a barrel, or 3.3%, to settle at $42.65 a barrel. Meanwhile, U.S. WTI crude for November delivery settled at $40.67 a barrel, surging by $1.45, or 3.7%.
read more... 07/10/2020