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Daily (03.09.2020): A sharp drop in German spot power price on lower demand
Oil prices eased on Wednesday due to lower gasoline demand in the United States, an indication that economic recovery from the Covid 19 crises may be slower than expected. Hence, Brent crude for November delivery fell 2.5% to settle at $44.43 a barrel. At the same time, WTI crude for October delivery dipped by around 3% to $41.51 a barrel.
read more... 03/09/2020
Daily (01.09.2020): Brent and WTI crude gained 4.6% and 5.8% respectively in August amid signs of a recovery in energy demand
Crude oil prices increased modestly in the last day of August, supported by a stronger-than-expected recovery in China’s service sector. Hence, Brent crude rose slightly by 0.5% to settle at $45.28 a barrel. At the same time, U.S. WTI crude added 0.8% to end at $42.61 a barrel. For August, Brent gained 4.6%, posting a fifth monthly increase in a row, while WTI saw a monthly gain of 5.8%, which represented a fourth straight monthly increase.
read more... 01/09/2020
Daily (31.08.2020): European carbon prices jumped to nearly €30 on Friday amid French nuclear outages
Oil prices ended slightly lower to flat on Friday as Hurricane Laura, which hit the U.S. Gulf Coast, caused less damage than feared on refineries, allowing infrastructure to start the recovery process. Hence, Brent crude stagnated at $45.05 a barrel, while U.S. WTI crude lost 0.2% to end at $42.97 a barrel. However, on a weekly basis, Brent and WTI rose by 1.5% and 1.6% respectively, as investors shifted their focus from the storm toward the fragile rebound in consumption amid the pandemic.
read more... 31/08/2020
Daily (17.08.20): A sharp drop in German spot power price due to cooler temperatures
A slow recovery in demand and strong supply weighed on oil prices on Friday. Brent crude closed at $44.80 a barrel, falling by 16 cents, or 0.4%. Meanwhile, the American WTI lost 23 cents, or 0.5% to end at $42.01 a barrel.
read more... 17/08/2020
Daily (21.07.2020): German Cal’21 dropped to 2-week low on Monday amid a bearish energy complex
Crude oil prices diverged on Monday, with U.S. WTI crude remaining anchored near $40 a barrel as players got caught between the continued surge in U.S. coronavirus cases and news indicating progress in COVID-19 vaccine. Brent crude for September delivery added 0.3%, to settle at $43.28 a barrel, supported by hopes that EU leaders will agree on a recovery fund. Meanwhile, U.S. WTI crude declined by 0.7%, to end at $40.29 a barrel.
read more... 21/07/2020