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Daily (12.05.2020): British near-term gas prices lost ground on Monday amid a re-routing of French gas to UK
Crude oil futures started the week on the back foot, weighed down by investor fears of a second wave of Covid-19 which offset new output cuts from Saudi Arabia. Hence, Brent crude for July delivery fell by $1.34, or 4.3%, to settle at $29.63 a barrel. At the same time, U.S. WTI crude dropped by 60 cents, or 2.4%, to settle at $24.14 a barrel.
read more... 12/05/2020
Daily (05.05.2020): British gas prices firmed on Monday amid a short system, higher exports and bullish oil markets
Crude oil futures edged higher on Monday as more countries unveiled they would begin easing coronavirus lockdowns and after the production quotas for the main oil exporting countries entered into force at the end of last week. Hence, Brent crude for July delivery soared by 76 cents, or 2.9%, to settle at $27.20 a barrel. At the same time, U.S. WTI crude surged by 61 cents, or 3%, to settle at $20.39 a barrel.
read more... 05/05/2020
Daily (27.04.2019): WTI oil rebounded by 2.7% on Friday, following a record decline in U.S and Canadian active oil rigs
Crude oil prices inched higher on Friday, after U.S and Canadian oil producers cut the number of active rigs by the most in a month since 2015. Consequently, Brent crude for June delivery traded 0.5% higher at $21.44 a barrel. Similarly, WTI futures rose by 2.7% to $16.94 a barrel.
read more... 27/04/2020
Daily (15.04.2020): WTI crude lost 10.3% on Tuesday due to weak global demand
Crude oil futures decreased sharply on Tuesday as weak demand and supply glut eclipsed the support from an agreement over the weekend by major oil producers to curb output. Consequently, Brent crude for June delivery fell by $2.14, or 6.7%, to settle at $29.60 a barrel. U.S. WTI crude plunged by $2.30 or 10.3%, to close at $20.11 a barrel.
read more... 15/04/2020
Daily (07.04.2020): European year-ahead power prices soared on Monday due to an aggressive increase in carbon prices
Oil prices started the week on a back foot after a postponement to Thursday of a meeting between OPEC and its allies aimed at reducing the excess supply of black gold on the world market. Hence, Brent crude for June delivery fell by $1.06, or 3.1%, to settle at $33.05 a barrel on ICE London. Meanwhile, U.S. WTI crude decreased by 2.26, or 8%, to end at $26.08 on NYMEX. The two benchmarks saw a recovery last Thursday and Friday due to signals of new production cuts sent by Russia and Saudi Arabia.
read more... 07/04/2020