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Daily (04.06.2020) NBP spot soared by 13.6% on Wednesday as low wind output boosted gas-for-power demand
Crude oil prices stretched gains on Wednesday, on a potential new agreement between OPEC and its allies to cut crude supplies. Nevertheless, a weekly increase in U.S crude inventories supported the bullish trend. As a result, Brent crude increased by 0.6% to $39.79 a barrel. Similarly, WTI futures traded 1.3% higher at $37.29 a barrel.
read more... 04/06/2020
Daily (22.05.2020): NBP spot down 19% due to oversupply and weak demand
Crude oil futures continued to climb in an optimistic climate on Thursday, to hit their highest settlement since March amid lower U.S. inventories and hopes for a recovery in demand for black gold. Hence, Brent crude for July delivery rose by 31 cents, or 0.9%, to settle at $36.06 per . At the same time, U.S. WTI crude gained 43 cents, or 1.3%, to end at $33.92 per barrel.
read more... 22/05/2020
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Daily (24.04.2020): NBP spot at 12 p/therm on Thursday due to robust flows and weak demand
Crude oil futures gained ground for the second consecutive session on Thursday, with the U.S. WTI crude surging by about 20% as escalating tensions between Iran and the United States offset the deteriorating demand due to the coronavirus pandemic and the supply glut.
read more... 24/04/2020
Russia expects oil cuts of 5 mln bpd on top of OPEC
Russian Energy Minister Alexander Novak said on Friday he expected oil production cuts by countries outside of the OPEC+ group to amount to 5 million barrels per day (bpd).
read more... 13/04/2020
Russia To Cut 1 Million Barrels Per Day, But Under One Condition
Russia may be willing to reduce its oil production by as much as 1 million bpd, or a little under 10 percent of its March average but only if the United States joins the cuts, Bloomberg has reported citing sources it said were familiar with the dominant sentiment in the industry.
read more... 07/04/2020