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Daily (30.10.2019): NBP spot dipped by 4.7% on Tuesday due to low demand and firm supplies
Crude oil prices diverged slightly on Tuesday. Brent crude was almost flat at $61.59 a barrel amid signs that U.S.-China trade differences might temper in November and on expectations for a draw in the U.S. refined product inventories. In the meantime, predictions of a rise in the U.S. crude stocks and Russia’s reserved outlook for a potential crude output extension by OPEC+ pushed WTI futures 0.5% lower at $55.54 a barrel.
read more... 30/10/2019
Daily (28.10.2019): NBP spot gas price jumped by over 8% on Friday on forecasts for colder weather
Oil prices were bullish on Friday following an unpredicted fall in U.S crude inventories. Brent crude gained 0.6% to close at $62.02 a barrel. WTI futures added 0.8% to end at $56.66 a barrel.
read more... 28/10/2019
Daily (22.10.2019): NBP spot turned bearish to plunge by 17.8% on Monday, on rising flows via the Langeled pipeline
Crude oil prices traded lower on Monday, as the U.S. commerce secretary said that an initial China-U.S. trade deal does not need to be finalized next month, stoking concerns over global economic growth. Reports showing that Russia oil output surpassed OPEC+ quota also weighed on prices. However, slighlty higher European shares due to a potential optimistic Brexit deal limited losses. Hence, WTI futures fell by 0.9% to $53.31 a barrel, while Brent crude edged 0.8% down at $58.96 a barrel.
read more... 22/10/2019
Daily (21.10.2019): NBP spot jumped by 5.8% on Friday, due to unscheduled outages at the Forties oil and gas pipeline
Oil prices edged lower on Friday following data indicating that the Chinese economy registered the slowest growth in nearly three decades. Ongoing trade negotiations between China and U.S. and the rising amount in crude stockpiles also put pressure on prices. Hence, Brent crude dropped by 0.8% to end at $59.42 a barrel, while WTI futures lost 0.3% to settle at $53.78 a barrel.
read more... 21/10/2019
Daily (17.10.2019): NBP spot slumped by over 8% on Wednesday amid firmer Norwegian exports and lower gas-for-power demand
Speculations about a potential extension of crude supply cuts by OPEC and its allies as of December led to a recovery in crude oil prices on Wednesday. The greenback’s slide coupled with short covering in anticipation of an industry report on U.S. crude inventories also contributed to the market rally. Still, concerns over tighter crude demand and expectations for higher crude stocks in the U.S. limited gains. Against that backdrop, Brent crude rose by 1.2% to 59.42 USD/bbl, while WTI futures advanced by 1% to 53.36 USD/bbl.
read more... 17/10/2019