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Daily (26.12.2023): European energy prices moved sideways amid Christmas break
Crude oil prices were rather flat on Monday but posted their biggest weekly gain since October as tensions persisted in the Middle East. Hence, Brent crude traded at $79.07 a barrel, while WTI crude traded at $73.56 a barrel.
read more... 26/12/2023
Daily (22.12.2023): Geopolitical situation driven by Red Sea shipping disruptions boosted forward gas and electricity prices on Thursday
On Thursday, oil prices experienced a decline, influenced by concerns that the demand for oil could be undermined in the coming year by the possibility of an economic recession. Additionally, the downward pressure on prices was exacerbated by Angola's announcement of its withdrawal from the OPEC. As a result, Brent crude closed at $79.39, and WTI crude settled at $73.89 per barrel, both contracts edging around 0.4% lower.
read more... 22/12/2023
Daily (21.12.2023): European carbon prices marked their largest daily gain in 11 months on Wednesday, driven by fund position adjustments and bullish gas prices
On Wednesday, oil prices sustained their upward trend, partially influenced by tensions in the Red Sea. However, the increase in US crude and gasoline inventories limited the gains. Consequently, Brent crude rose by around 0.6% to close at $79.70, and WTI crude ended at $74.22 per barrel, 0.4% higher day-on-day.
read more... 21/12/2023
Daily (20.12.2023): Forward gas prices fell back on Tuesday as bearish fundamentals outweighed supply risks
Oil prices rose on Tuesday, supported by the risk of attacks on ships in the Red Sea and supply disruptions. Consequently, Brent crude settled at $79.23, and WTI crude closed at $72.47 per barrel, both contracts trading around 2% higher day-on-day.
read more... 20/12/2023
Daily (19.12.2023): Energy prices spiked on Monday amid supply security concerns
Oil prices rallied on Monday amid fears of disruptions to maritime oil transport due to attacks in the Red Sea. The market reacted to British oil giant BP's announcement that it would suspend all shipping in the Red Sea. Hence, Brent crude climbed by about 2% to settle at $77.95, and WTI crude ended at $72.47 per barrel, more than 1% higher day-on-day.
read more... 19/12/2023