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Daily (21.09.2020): German spot power price fell by more than 13% on stronger wind output
A slide in oil prices was noticed on Friday, as worries about the increasing number of coronavirus infections across the world stalled oil demand. Furthermore, a potential return of oil output from Libya weighed on the oil market. However, a new tropical storm in the U.S. Gulf of Mexico limited losses. Hence, Brent crude slipped by 0.4% to $43.15 a barrel. At the same time, the American WTI dropped by 0.3% to $41.11 a barrel.
read more... 21/09/2020
Middle East to become major LNG supplier as global fossil fuel demand wanes
Coronavirus pandemic and climate policies will leave a lasting effect on global energy demand, says annual report.
read more... 15/09/2020
Daily (09.09.2020): Oil prices tumbled to their lowest level since June on Tuesday amid Saudi price cut, COVID-19 surge
Crude oil futures tumbled to their lowest settlement since June on Tuesday, with Brent plunging below $40 amid a persistent surge in coronavirus cases worldwide and after Saudi Arabia decided to cut its oil prices in October. The end of U.S. summer holiday driving season added further pressure on U.S. WTI price. Hence, Brent crude for November delivery fell by 5.3% to close at $39.78 a barrel. At the same time, U.S. WTI crude plummeted by 5.9% to end at $36.76 a barrel.
read more... 09/09/2020
Daily (26.08.2020): Oil prices at the highest levels since early March on Tuesday amid supply disruptions in the Gulf of Mexico ahead of hurricane
Oil prices surged to their highest level since early March on Tuesday as Storm Laura, which turned into a hurricane, disrupted platform activity and threatened refineries in the Gulf of Mexico area. However, rising coronavirus cases in Asia and Europe limited gains. Hence, Brent crude soared by 73 cents, or 1.6%, to settle at $45.86 a barrel. At the same time, U.S. WTI crude rallied by 73 cents, or 1.7%, to close at $43.35.
read more... 26/08/2020
Daily (21.08.2020): UK gas prices posted strong weekly gains due to higher LNG and U.S. gas prices
Crude oil futures lost ground on Thursday, pressured by downbeat comments from the U.S. Fed and OPEC+ on the demand outlook due to the coronavirus, while U.S. unemployment claims unexpectedly rose last week. Hence, Brent crude fell by 47 cents, or 1%, to settle at $44.90 a barrel. At the same time, U.S. WTI crude ended the session 11 cents, or 0.3%, lower at $42.82 a barrel.
read more... 21/08/2020