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Daily (19.06.2020): EUAs broke key technical resistance levels, to trade above €24 on Thursday amid speculator sentiment, bullish auction result
Crude oil futures climbed on Thursday following the OPEC+ monitoring panel meeting that emphasized the critical importance of adhering to full conformity. However, additional coronavirus cases reported in parts of the United States and China added to market jitters. Hence, Brent crude for August delivery soared by 80 cents, or 2%, to settle at $41.51 a barrel. At the same time, U.S. WTI crude settled at $38.84 a barrel, up 88 cents, or 2.3%.
read more... 19/06/2020
Daily (17.06.2020): Oil prices gained more than 3% on Tuesday on forecasts for record rise in demand for 2021
Crude oil futures edged higher in a volatile trading on Tuesday after the International Energy Agency (IEA) revised upwards its oil demand estimate for 2021, while upbeat economic figures in the United States added to the bullish trend. Hence, Brent crude for August delivery climbed by $1.24, or 3.1%, to settle at $40.96 a barrel. At the same time, U.S. WTI crude soared by $1.26, or 3.4% to settle at $38.38 a barrel.
read more... 17/06/2020
Daily (16.06.2020): NBP spot jumped by 6% on Monday amid weaker LNG supply and wind power generation
Crude oil futures turned bullish on Monday as signs of improving demand due to OPEC+ production cut agreement offset concerns that a resurgence of the virus could weigh on the global economy. Hence, Brent crude for August delivery soared by 99 cents, or 2.6%, to settle at $39.72 a barrel. At the same time, U.S. WTI crude for July delivery rose by 86 cents, or 2.4%, to end at $37.12 a barrel.
read more... 16/06/2020
Daily (15.06.2020): Brent and WTI crude plunged by 8% for the week amid fears of a second wave of contamination
Crude oil futures were little changed on Friday, with the U.S. WTI crude declining slightly by 0.2% to settle at $36.26 a barrel amid concerns about second wave of virus infections in the U.S. which could threaten the demand recovery. On the contrary, Brent crude for August delivery rose by 18 cents, or 0.5%, to settle at $38.73 a barrel. Both oil benchmarks broke their first weekly winning streak after six straight weeks of gains, to plunge by over 8% last week.
read more... 15/06/2020
Daily (12.06.2020): Brent crude dropped by over 8% on Thursday amid resurgence in coronavirus cases and gloomy demand outlook
Crude oil futures plunged on Thursday amid concerns about a second wave of Covid-19 and doubts about the strength of the global economic recovery. Hence, Brent crude for August delivery fell by $3.18, or 7.6%, to settle at $38.55 a barrel. At the same time, U.S. WTI crude dived by $3.26, or 8.2%, to settle at $36.34 a barrel. Both contracts, Brent and WTI posted their worst daily drops since April 21 and 27, respectively.
read more... 12/06/2020