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Daily (13.08.2020): Oil prices hit their highest level since March 2020
Oil prices jumped on Wednesday amid a drop of 4.5 million barrels in U.S. crude inventories for a third week in a row, according to EIA report. However, the recently increase in coronavirus cases around the world limited their gains. Hence, Brent crude added 93 cents, or 2.1% to settle at $45.43 a barrel. Similarly, WTI futures rose by around 2.6% to end at 42.67.
read more... 13/08/2020
Daily (12.08.2020): Oil prices eased on Tuesday amid gridlock in US stimulus negotiations, rising coronavirus cases
Crude oil futures fell on Tuesday amid a gridlock in U.S. stimulus negotiations and rising coronavirus infection rates globally. However, expectations for tighter oil U.S. supplies limited price declines. Consequently, Brent crude dropped by 49 cents, or 1.1%, to settle at $44.50 a barrel. At the same time, U.S. WTI crude lost 33 cents, or 0.8%, to finish at $41.61 a barrel.
read more... 12/08/2020
Daily (10.08.2020): NBP spot hit a new 5-month high on Friday
Oil prices declined on Friday amid uncertainty caused by negotiations over a new stimulus deal in the United States. Moreover, rising coronavirus cases could renew concerns over global fuel demand. Brent crude fell 1.5% to settle at $44.40 a barrel. Similarly, WTI lost 1.7% to end at $41.22 a barrel.
read more... 10/08/2020
Daily (07.08.2020): British forward gas prices gained momentum on Thursday, driven by lower Russian flows and stronger US gas prices
Crude oil prices slipped below five-month highs on Thursday, on renewed concerns of global fuel demand due to the coronavirus pandemic. This decrease, however, was tempered by Iraq’s intention to make an additional cut in its oil production. In this context, Brent crude edged 0.2% lower at $45.09 a barrel. Similarly, WTI futures settled 0.6% down at $41.95 a barrel.
read more... 07/08/2020
Daily (31.07.2020): WTI crude slipped below $40 a barrel on Thursday amid bearish economic data, political uncertainty in the U.S.
Crude oil futures posted a steep decline on Thursday, with WTI crude slipping below $40 a barrel for the first time in three weeks, pressured by worries about resurgence in coronavirus cases and bearish U.S. economic data. Suggestions made by U.S. President Donald Trump that nation's November presidential election may be delayed added further pressure on oil prices. Hence, Brent crude decreased by 81 cents, or 1.9%, to settle at $42.94 a barrel. At the same time, U.S. WTI crude futures fell by $1.35, or 3.3%, to end at $39.92 a barrel.
read more... 31/07/2020