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Daily (09.11.2020): NBP spot price dropped by 5% on Friday, pressured by milder weather outlook and stronger wind generation
Oil prices continued to decline on Friday, pressured by the rising number of coronavirus cases and diminishing demand. Consequently, Brent crude for January delivery slumped by 3.6% to close at $39.45 a barrel, while WTI oil slumped by 4.3% to $37.14 a barrel.
read more... 09/11/2020
Daily (02.11.2020): NBP spot plunged by over 9% on Friday amid healthy supply, weaker demand and falling commodities
Oil prices ended in a bearish mood on Friday, concluding the worst week in five months, weighed by sluggish demand and lack of response from major producing countries. A barrel of Brent for December delivery was 0.5%, or 19 cents, down at $37.46, while WTI crude fell 1.1%, or 38 cents, to $35.79 a barrel.
read more... 02/11/2020
Daily (19.10.2020): NBP spot reached a fresh 2020 high on Friday, due to low flows from Norway and increased demand
Crude oil prices edged lower on Friday ahead of the OPEC+ ministers’ meeting. Furthermore, doubts about demand and the worrying pace of COVID-19 pandemic also weighed on prices. Brent crude for December delivery slipped by 0.5% to settle at $42.93 a barrel, while WTI crude traded 0.2% lower at $40.88 a barrel.
read more... 19/10/2020
Daily (09.10.2020): NBP gas for month-ahead delivery hit an almost 10-month peak on Thursday tracking higher oil and LNG prices
Crude oil futures hit their highest level in more than a month on Thursday as Hurricane Delta forces paralyzed nearly 92% of crude output in the Gulf of Mexico, while Saudi Arabia envisages postponing OPEC plans to boost output. The prospect of more production outages in the North Sea due to a workers’ strike added further support to oil markets. Hence, Brent crude for December delivery jumped by $1.35, or 3.2% to settle at $43.34 a barrel. Meanwhile, U.S. WTI crude surged by $1.24 cents, or 3.1%, to end at $41.19 a barrel.
read more... 09/10/2020
China’s Oil Imports Slowly Return To Normal Levels
China’s crude oil imports averaged 11.52 million barrels per day (bpd) in September, up by 3.1 percent from August, but slowly returning to historical levels and starting to ease the congestion at Chinese ports, according to data from energy analytics services provider OilX.
read more... 06/10/2020