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Daily (16.08.2017): Most of the UK wholesale gas prices slipped by 1-2% on Tuesday due to oversupplied system
Oil prices decreased during the first half of Tuesday’s trading session as ample supply from OPEC and the U.S. combined with the signs of weaker demand in China encouraged investors to sell long positions bought in July during a period of rising prices. Meanwhile, a recent report of a dip in Libyan output and a surge in the U.S. dollar had supported Brent. Brent closed the session 7 cents higher at $50.80 a barrel, while WTI price fell by 0.08% to end at $47.55 a barrel.
read more... 16/08/2017
Daily (14.08.2017): British wholesale gas prices rose on Friday due to an unplanned outage
Oil prices increased on Friday, following the IEA’s report which stated that crude oil stockpiles were now below 2016 levels. The agency also raised its 2017 demand growth forecast in its previous monthly report and declared it expected demand to be further expanded next year. Despite the strong demand, markets remain well-supplied thanks to strong output. Brent rose by almost 0.4% to close at $52.10 a barrel, while WTI price rose by around 0.5% to end at $48.82 a barrel.
read more... 14/08/2017
Daily (08.08.2017): UK prompt wholesale gas prices jumped by 4% on Monday due to Hornsea’s outage
Oil prices were slightly bearish on Monday, retreating from 9-week highs. According to traders, the market is looking for a statement, confirming that the OPEC will meet its agreed target, the possibility for price movement seems limited. Also, U.S. weekly oil production hit the highest value since August 2015 pushing down the prices. Brent crude dropped by 0.1% to close at $52.37 a barrel, while WTI price fell by almost 0.38% to close at $49.39 a barrel.
read more... 08/08/2017
Daily (04.08.2017): UK wholesale gas prices rose by 1.5% on Thursday on extended Kollsnes’ outage
Oil prices fell on Thursday, pushed down by high OPEC supplies. Yet traders consider, that the oil industry has adapted to “low prices era” and can produce and operate at price levels that previously would have been uneconomic. Brent crude tumbled by almost 0.7% to close at $52.01 a barrel, while WTI price decreased by 1.13% to close at $49.03 a barrel.
read more... 04/08/2017
Daily (02.08.2017): UK wholesale gas prices fell by 1.3% - 3% on Tuesday
Oil reversed to bearish on Tuesday, as OPEC production rose in July, according to Reuters survey, led by a further recovery in supply from Libya, one of the exempt producers. Nevertheless, U.S. inventory reports due on Tuesday and Wednesday are expected to show crude stocks fell, supporting the prices by the end of the week. Brent crude edged 1.65% lower at $51.78 a barrel, while WTI price decreased by 2% to close at $49.16 a barrel.
read more... 02/08/2017