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Daily (02.12.2020): Oil prices continued to slip on Tuesday OPEC uncertainty
Crude oil futures continued to slip on Tuesday as OPEC's decision to end a meeting on Monday without a decision on its production plans for 2021 and delay a meeting set for Tuesday until later in the week, weighed on prices. Hence, Brent crude lost 0.4% to settle at $47.42 a barrel. At the same time, U.S. WTI crude ended at $44.55 a barrel, posting a 1.7% drop day-on-day.
read more... 02/12/2020
Daily (18.11.2020): Oil prices little changed on Tuesday, as fears of more coronavirus restrictions cooled off enthusiasm of vaccine
Crude oil prices were little changed on Tuesday as optimism about a second promising coronavirus vaccine faded in the face of concerns about the immediate outlook for demand. However, the conclusion of Monday’s OPEC+ meeting, with the majority of the producer countries supporting an extension of the output cuts beyond January has failed to boost the market sentiment. Hence, Brent crude lost 0.2% to end at $43.75 a barrel. At the same time, U.S. WTI crude added 0.2% to settle at $41.43 a barrel.
read more... 18/11/2020
UK Warning Highlights Energy Storage Importance To Renewables
The United Kingdom, which has recently set a record for wind power meeting its demand, issued a security of supply alert earlier this week as wind power output was low due to calm weather. This event highlights the need of increased energy storage capacity able to balance power to the grid at times of strained supply, energy historian and expert Ellen R. Wald wrote in Forbes.
read more... 09/11/2020
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 (18.09.2020): European carbon prices fell by more than 5% on Thursday due to stronger selling
Oil prices rose for the third consecutive day on Thursday, following OPEC’s meeting which had a positive influence on market. However, oil market is still kept under pressure, due to higher supply and flagging demand. Hence, Brent crude soared by nearly 2.6% to $43.30 a barrel. While the American WTI crude gained 2% to settle at $40.97 a barrel.
read more... 18/09/2020