Latest news

OPEC+ Reaches Deal “In Principle” on Oil Output Cuts

OPEC+ reached a deal on Thursday that would see the group’s oil production cuts spill over into the new year—and at a level that is a deeper cut than is currently in place, delegates said following today’s JMMC meeting.

read more... 01/12/2023

news

Daily (28.11.2023): Forward gas prices posted a 5% decline on Monday amid abundant supply

Oil prices ended the day lower on Monday, with the market doubting the ability of OPEC and its allies to curb the falling prices. Hence, Brent crude settled at $79.98 per barrel, while WTI crude stood at $74.86 per barrel, both contracts down by 1% day-on-day.

read more... 28/11/2023

news

Daily (24.11.2023): Carbon and gas prices were strongly bullish on Thursday amid colder weather forecasts

Oil prices continued to decline on Thursday, weighed by the postponement of the OPEC+ alliance meeting, fueling rumors of discord between its members and casting doubt on whether Saudi Arabia will maintain its voluntary production cuts. Thus, Brent crude edged 0.7% down at $81.42 per barrel, while WTI crude settled 1% lower at $76.40 per barrel.

read more... 24/11/2023

news

Daily (23.11.2023): Oil prices fell on Wednesday following the postponement of the OPEC plus alliance meeting

Oil prices fell on Wednesday, after having initially stalled following the postponement of the OPEC+ alliance meeting from Sunday to Thursday November 30, with analysts believing that the postponement was linked to divergence within the alliance. Consequently, Brent crude settled at $81.96 per barrel, while WTI crude ended at $77.10 per barrel, down 1% day-on-day.

read more... 23/11/2023

news

Daily (22.11.2023): European carbon prices plummeted to a one-year-low amid weak auction and a bearish gas market

Oil prices changed slightly on Tuesday, reflecting a cautious market stance in anticipation of a weekend shortened by the Thanksgiving public holiday. The market is also marked by the highly awaited OPEC+ meeting scheduled for Sunday. Consequently, Brent crude ended at $82.45 per barrel, while WTI crude ended at $77.77 per barrel.

read more... 22/11/2023

news