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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
Daily (08.10.2020): EUAs hit a 2-week high on Wednesday, as the Parliament supported a stronger-than-expected 2030 climate target
Slightly larger-than-expected U.S. crude inventories and fading hopes for another stimulus package to support the coronavirus-hit economy weighed on oil prices declined on Wednesday Hence, Brent crude decreased by 1.6% to $41.99 a barrel. Meanwhile, WTI futures lost 1.8% to trade at $39.95 a barrel.
read more... 08/10/2020
Daily (07.10.2020): Oil prices continued to climb on Tuesday amid widening strike in Norway, hurricane supply disruptions
Crude oil futures surged over 3% on Tuesday, spurred by widening strike of oil workers in Norway, and the start of evacuations from oil platforms in the Gulf of Mexico ahead of the expected arrival of Hurricane Delta. Additionally, the return of the president to the White House to continue his coronavirus treatment triggered a general rally in asset markets. Hence, Brent crude for December delivery soared by $1.36 a barrel, or 3.3%, to settle at $42.65 a barrel. Meanwhile, U.S. WTI crude for November delivery settled at $40.67 a barrel, surging by $1.45, or 3.7%.
read more... 07/10/2020
Daily (06.10.2020): Oil prices settled over 5% higher on Monday amid reports of Trump’s improving health, lower supply from Norway
Crude oil prices rebounded over 5% on Monday, spurred by the state of health of Donald Trump, who announced that he would be released from the hospital at the end of the afternoon. Another round of stimulus in the U.S. and curtailing crude output in Norway due to a monitored strike also supported oil prices. Hence, Brent crude for December delivery soared by $2.02, or 5.1%, to settle at $41.29 per barrel, notching its first gain after four consecutive daily declines. Meanwhile, U.S. WTI crude for November delivery surged by $2.17, or 5.9%, to close at $39.22 per barrel, registering its first rise in three sessions.
read more... 06/10/2020
Daily (05.10.2020): Oil fell by 4% on Friday, on news that US President Donald Trump was tested positive for Covid-19
Oil prices lost ground on Friday amid uncertainty surrounding the U.S. president’s health. A weak unemployment report and increased supply from major world oil producers put extra pressure on prices. As a result, Brent crude fell by 4.1% to settle at $39.27 a barrel. Meanwhile, WTI futures declined by 4.3% to $37.05 a barrel.
read more... 05/10/2020