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Daily (09.02.2024): Oil prices surged by 3% on Thursday amid signs of improved demand
Oil prices surged on Thursday, driven by indications of strong demand as US crude exports hit a historic high of 4.06 million bbl/day in 2023, reflecting a 13% rise from 2022. Persistent worries over tensions in the Middle East provided further support. As a result, Brent crude stood at $81.63 a barrel, while WTI crude settled at $76.22 a barrel, both contracts climbing by over 3% day-on-day.
read more... 09/02/2024
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EU Commission looks into Germany's natural gas levy
The European Commission has asked the EU's energy regulator ACER to examine whether a tariff Germany added to its natural gas exports distorts the bloc's single market in a possible breach of competition rules, three sources close to the matter said.
read more... 29/01/2024
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China Reinstates Coal Tariffs, Impacting Global Suppliers
China has reinstated tariffs on coal imports from the start of this year in what could be a blow to Russian exporters.
read more... 03/01/2024
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OPEC’s Influence on Oil Prices To Remain Significant In 2024
At their latest meeting in early December, the Organization of Petroleum Exporting Countries and its partners, led by Russia, agreed to reduce their combined production of crude oil to some 2.2 million barrels daily.
read more... 02/01/2024
Daily (04.12.2023): Brent crude plummeted by 5% on Friday as OPEC production cuts failed to support oil prices
Oil prices posted sharp falls on Friday as the recent cuts in crude oil production announced by some Opec+ exporting countries were received with doubt by the oil market, failing to produce the expected impact. As a result, Brent crude tumbled by about 5% to settle at $78.88 per barrel, while WTI crude declined by 2.5% to end at $74.07 per barrel.
read more... 04/12/2023