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Daily (20.11.2023): Oil prices rebounded on Friday as the market's current attention is on the upcoming OPEC meeting this week
On Friday, oil prices bounced back after experiencing a significant drop the day before. The market's current attention is on the upcoming OPEC+ meeting this week, where there is potential for intervention to counteract the downward trend in prices. As a result, both contracts climbed by over 4%. Brent crude settled at $80.61 per barrel, while WTI crude ended at $75.89 per barrel.
read more... 20/11/2023
Daily (17.11.2023): Oil prices plummeted by 5% on Thursday, weighed down by rising US inventories and fears over slowing global demand
Oil prices continued their losses on Thursday, shedding by about 5% during the session, weighed down by rising inventories in the U.S. and economic signals suggesting fears for global demand. As a result, Brent crude ended at $77.42 per barrel, while WTI crude closed at $72.90 per barrel.
read more... 17/11/2023
Daily (16.11.2023): European carbon prices hit a three-week high on Wednesday as data showed investment funds posted record net short positions
Oil prices declined on Wednesday as the prospect of supply outpacing demand continued to grow, with U.S. reserves rising to over 439 million barrels in the week ending November 10, significantly exceeding expectations. As a result, Brent crude ended 1.6% lower at $81.18 per barrel, while WTI crude dropped by 2% to end at $76.66 per barrel.
read more... 16/11/2023
Daily (15.11.2023): Oil prices stabilized on Tuesday after an initial bullish response to the cooling US inflation
Oil prices flattened out on Tuesday after an initial bullish response to the slowdown in US inflation, which weighed on the dollar. Consequently, Brent crude ended at $82.47 per barrel, while WTI crude stabilized at $78.26 per barrel.
read more... 15/11/2023
Daily (14.11.2023): European spot electricity prices plummeted by 32% on Monday amid soaring wind output
Oil prices climbed on Monday, propelled by the publication of OPEC+'s monthly report aimed at mitigating "exaggerated negative sentiments" regarding the global oil demand outlook. As a result, both contracts rose by about 1.4%. Brent crude settled at $82.52 per barrel, while WTI crude ended at $78.26 per barrel.
read more... 14/11/2023