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
Oil prices rose on Friday following the declaration of the head of the U.S. Federal Reserve that the central bank will act properly to sustain an economic growth in the world’s biggest economy. Brent crude gained 1% to close at $61.54 a barrel. WTI futures added 0.4% to end at $56.52 a barrel.
read more... 09/09/2019
Romania’s energy market regulator ANRE drafted new regulations requiring natural gas producers and suppliers to build up higher reserves ahead of the cold season, quoting risks of “reduced” transfer of natural gas through Ukraine and limited capacities of the interconnectors with other states (Hungary and Bulgaria), according to a release published on August 27.
read more... 29/08/2019
A larger-than-anticipated decline in the U.S. crude inventories led to a further rise in crude oil prices on Tuesday. Furthermore, the interest rates were eventually lowered by the U.S. Federal Reserve, adding to the bullish market sentiment. Brent crude traded 0.7% higher at $65.17 a barrel, while WTI futures nudged up by 0.9% to $58.58 a barrel, as gains were reduced by waning hopes for an upcoming U.S.-China trade deal, as the negotiators postponed their next meeting until September.
read more... 01/08/2019
Crude oil prices inched up on Monday, amid expectations that U.S. Federal Reserve might lower the borrowing costs this week for the first time in over a decade. Ongoing supply concerns around the Strait of Hormuz also supported prices. Still, on demand side, reduced hopes for a trade deal between the U.S. and China before the 2020 U.S. election, limited gains. As a result, Brent crude traded 0.4% higher at $63.71 a barrel, while WTI futures climbed by 1.2% to $56.87 a barrel.
read more... 30/07/2019