The end of one of the oil workers’ strike in Norway led to a ramp up in crude output on Friday, thereby weighing on oil prices. Hence, Brent crude decreased by 1.1% to $42.85 a barrel. Similarly, WTI futures lost 1.8% to trade at $39.95 a barrel.
read more... 12/10/2020
If the ongoing strike of oil workers in Norway extends for another week without a resolution, nearly 25 percent of Norway’s oil and gas production could be shut down, including output at the giant Johan Sverdrup oilfield, the Norwegian Oil and Gas Association (NOG) said on Thursday.
read more... 09/10/2020
Crude oil futures surged over 3% on Tuesday, spurred by widening strike of oil workers in Norway, and the start of evacuations from oil platforms in the Gulf of Mexico ahead of the expected arrival of Hurricane Delta. Additionally, the return of the president to the White House to continue his coronavirus treatment triggered a general rally in asset markets. Hence, Brent crude for December delivery soared by $1.36 a barrel, or 3.3%, to settle at $42.65 a barrel. Meanwhile, U.S. WTI crude for November delivery settled at $40.67 a barrel, surging by $1.45, or 3.7%.
read more... 07/10/2020
European gas markets are currently well-supplied, with plenty of gas in storage. Prices are at seasonal lows due to the impact of mild winters, plentiful LNG supply and reduced energy demand during the coronavirus pandemic
read more... 07/10/2020
Crude oil prices rebounded over 5% on Monday, spurred by the state of health of Donald Trump, who announced that he would be released from the hospital at the end of the afternoon. Another round of stimulus in the U.S. and curtailing crude output in Norway due to a monitored strike also supported oil prices. Hence, Brent crude for December delivery soared by $2.02, or 5.1%, to settle at $41.29 per barrel, notching its first gain after four consecutive daily declines. Meanwhile, U.S. WTI crude for November delivery surged by $2.17, or 5.9%, to close at $39.22 per barrel, registering its first rise in three sessions.
read more... 06/10/2020