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Daily (23.09.2019): NBP spot rose by nearly 4% on Friday, on expectations for colder weather and reduced gas flows to Europe
Crude oil prices edged lower on Friday, as investors are worried about the trade war between U.S. and China. Hence, Brent crude traded 0.2% down at $64.28 a barrel, while WTI futures slipped by 0.1% to $58.09.
read more... 23/09/2019
Daily (20.09.2019): NBP spot fell by nearly 3% on Thursday, as low wind and reduced French power output boosted gas-for-power demand
Crude oil prices turned bullish on Thursday, as traders started to doubt whether Saudi Arabia will be able to fulfill its pledge to restore lost production by September 30 and its capacity by November 30 after last weekend’s attack. Geopolitical risks were the main driver in the price rise, as the market await further reactions from Saudi Arabia and the U.S., which strive at building a peaceful coalition rather than engaging in a military action. A weaker U.S. dollar also supported prices. Brent crude rose by 1.3% to 64.40 USD/bbl, while WTI futures were rather steady at 58.13 USD/bbl.
read more... 20/09/2019
Daily (19.09.2019): French year-ahead power price surged by 4% on Wednesday, amid eased French nuclear reactor worries
Crude oil prices continued to fall on Wednesday, as U.S. President chose to impose substantially increased sanctions rather than military action against Iran, while expressing U.S. readiness for the second measure. Further pressure came from Saudi Arabia’s commitment to bring its oil production back to pre-attack levels by the end of September. A surprise build in the U.S. crude inventories last week put more pressure on prices. As a result, Brent crude dropped by 1.5% to 63.60 USD/bbl, while WTI futures dipped by 2.1% to 58.11 USD/bbl.
read more... 19/09/2019
Daily (18.09.2019): NBP spot retreated by 4.9% on Friday, amid softer oil prices and lower supply risks
The announcement by Saudi energy minister on Tuesday about the full restoration of Saudi Arabia’s oil production capabilities, after the largest supply disruption in 50 years, stopped the surge and led to a fallback in crude oil prices. Potential releases from strategic oil reserves in the U.S. and other countries added pressure on prices. Consequently, Brent crude dropped back by 6.5% to $64.55 a barrel, while WTI futures retreated by 5.7% to $59.34 a barrel.
read more... 18/09/2019
Daily (17.09.2019): Oil prices jumped by nearly 15% following the attacks on Saudi oil facilities
Crude oil prices posted its biggest daily gain in over 30 years, following the attack on Aramco crude facilities which led to a in cut Saudi Arabia’s production and intensified concerns of retaliation in the Middle East. According to the news, Aramco may take months to resume normal output volumes. As a result, Brent crude surged by 14.7% to $69.02 a barrel, while WTI futures hiked by 14.6% to $62.90 a barrel.
read more... 17/09/2019