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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 (04.05.2020): First weekly gain in a month for Brent crude, as OPEC alliance started to cut more production
Crude futures added ground on Friday, after OPEC and its allies started to reduce more production to tackle the supply excess caused by the coronavirus pandemic. Consequently, Brent crude traded 4.6% higher at $26.44 a barrel. Similarly, WTI futures climbed by 5% to $19.78 a barrel
read more... 04/05/2020
Daily (30.04.2020) Brent crude soared by 10% due to a drop in U.S oil and gasoline stocks
Crude futures soared on Wednesday, stimulated by a fall in U.S crude stocks and gasoline inventories. As a result, Brent crude jumped by 10.1% to $22.54 a barrel. WTI futures ended 22% higher at $15.06 a barrel.
read more... 30/04/2020
Daily (29.04.2020): Brent recovered by 2.4% on Tuesday, driven by gradual restart of economic activity
Crude oil futures varied on Tuesday, with U.S. WTI crude declining by 44 cents, or 3.4%, to settle at $12.34 a barrel, as investors worried about the depleting crude storage space amid a sluggish demand.
read more... 29/04/2020
Daily (28.04.2020): WTI crude plunges by 25% amid concerns over storage
Crude oil futures crashed on Monday amid signs that the worldwide oil storage is filling rapidly, increasing worries that production reductions will not come fast enough to fully offset the collapse in demand due to the coronavirus pandemic. Hence, Brent crude fell by $1.45, or 6.8%, to settle at $19.99 a barrel. At the same time, the U.S. WTI crude plunged by $4.16, or 24.6%, to end at $12.78 a barrel
read more... 28/04/2020