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Daily (07.11.2019): EUAs fell by around 2.8% on Wednesday due to strong auction supply and concerns over a slowing economic growth in the EU
Crude oil prices retreated on Wednesday, weighed by a higher-than-predicted rise in the U.S. crude inventories. Reports showing a sluggish growth in Germany’s services sector and Eurozone business activity close to stagnation put more pressure on the market. As a result, Brent crude traded 1.9% lower at $61.74 a barrel, while WTI futures sank by 1.5% to $56.35 a barrel.
read more... 07/11/2019
Daily (01.11.2019): EUAs sank by 1.5% on Thursday, due to weak auction activity
Crude oil prices declined on Thursday, amidst data showing weak factory activity in China that weighed on global demand. As a result, Brent crude traded 0.6% down at $60.23 a barrel. At the same time, a leak on a key U.S. pipeline disrupted supply flows, pushing WTI futures down by 1.6% to $54.18 a barrel.
read more... 01/11/2019
Daily (18.10.2019): EUAs nearly 1% off a fresh three-week high on Thursday, amid growing uncertainty over the fate of the new Brexit deal
Crude oil prices extended gains on Thursday after data pointed at a fall in the U.S. fuel stocks. Higher freight rates from Chinese shipping firm COSCO coupled with news about a new Brexit deal agreed between the UK and the EU also supported prices. Still, gains were capped by demand concerns in the wake of a larger-than-forecasted build in the U.S crude inventories and a string of poor economic data. Consequently, Brent crude inched up by 0.8% at 59.91 USD/bbl, while WTI futures added 1.1% to end at 53.93 USD/bbl.
read more... 18/10/2019
Daily (16.10.2019): The EUAs spiked by around 6.4% on Tuesday after an optimistic breakthrough in Brexit process
Crude oil prices extended their fall on Tuesday, as the uncertain outlook for the Sino-American trade negotiations, coupled with indicators of an economic slowdown in China fueled worries over global crude demand. The high level of U.S. crude stocks added pressure on prices. Consequently, WTI futures lost 1.5% to close at $52.81 a barrel, while Brent crude traded 1% down at $58.74 a barrel. However, hopes for a timely Brexit deal and signals of possible oil supply cuts from OPEC reduced losses.
read more... 16/10/2019
Daily (04.10.2019): The EUAs hit a six-month low on Thursday, pressured by mounting recession concerns
Crude oil prices slightly diverged on Thursday. WTI futures edged down by 0.4% to $52.45 a barrel, amid mounting crude demand worries, after pessimistic services sector and job growth figures in the U.S. added to the bearish macroeconomic tone set by earlier weak manufacturing readings. A stall in the Euro zone business growth reported for September also kept market under pressure. However, losses were capped by data showing lower U.S. oil output in July. Meanwhile, Brent crude was a shade higher at $57.71 a barrel, on hopes that a positive development might occur in the U.S.-China trade talks when these will resume on October 10.
read more... 04/10/2019