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Daily (29.01.2019): Brent crude dropped by nearly 3% on rising U.S. oil production and declining economic growth
Oil prices plunged on Monday, reaching its lowest level in the last 10 days after an increase in U.S. crude drilling production, and persisting concerns over a global economic decline. According to Reuters, U.S. drillers added 10 oil rigs last week expanding the market tendency towards oversupply. Brent crude dropped by 2.8% closing at 59.93 USD/bbl, while WTI crude was down by 3.2% settling at 51.99 USD/bbl.
read more... 29/01/2019
Daily (28.01.2019): European spot power prices plunged by over 20% due to milder weather and lower consumption
Oil prices were slightly up on Friday, as Venezuelan exports could face potential sanctions from U.S. amid political unrest in Caracas, raising the prospect of reduced crude supply. However, worries over U.S.-China trade dispute and growing U.S. fuel stocks put a lid on prices. As a result, Brent crude added 0.9% to settle at $61.64 a barrel, while WTI futures rose 1.1% to $53.69 a barrel.
read more... 28/01/2019
Daily (25.01.2019): Energy markets seen in a bearish trend on Thursday
Thursday saw a mixed evolution in oil prices. Continuous concerns over global economic slowdown and the unexpected rise in U.S. crude inventories weighed slightly on Brent spot, which ended down at $61.09 a barrel. However, WTI futures rose by 1% to $53.13 a barrel, supported by OPEC-led output cuts and U.S. threats to impose sanctions on OPEC member Venezuela.
read more... 25/01/2019
Daily (24.01.2019): British spot gas price rose by 2% on Wednesday due to an undersupplied system
Oil prices pared earlier gains on Wednesday as worries over slowing world economic growth weighed on the markets. U.S. Energy Information Administration voiced expectations for increasing shale output, which put additional pressure on prices. On the other side, China and Japan indications to use stimulus measures to boost growth, alongside with OPEC-led output cuts, limited losses. Consequently, Brent crude edged 0.6% down at $61.14 a barrel, while WTI futures lost 0.7% to close at $52.62 a barrel.
read more... 24/01/2019
Daily (23.01.2019): European carbon prices up by nearly 3% on Tuesday to hit 3-week peaks
A downward trend was noticed in the oil markets on Tuesday, as persistent worries over Chinas’ economic slowdown and its potential negative impact on oil demand weighed on prices. IMF’s warning about increased risk of slowing global growth in the context of U.S.-China trade dispute put more pressure on prices. Consequently, Brent crude lost nearly 2% to settle at $61.50 a barrel. At the same time, WTI futures declined by 2.1% to $53.01 a barrel.
read more... 23/01/2019