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Daily (29.12.2023): Oil prices continued their losses on Thursday as shipping companies indicated readiness to navigate Red Sea
Crude oil futures retreated on Thursday following announcements from additional shipping firms indicating their readiness to navigate the Red Sea route. This development has helped to alleviate worries about potential supply interruptions, even as tensions continue to remain high in the Middle East. Hence, Brent crude declined by 1.5% to settle at $78.39 a barrel. U.S. WTI crude dipped by about 3% to $71.77 a barrel.
read more... 29/12/2023
Daily (28.12.2023): Oil prices dropped by about 2% on Wednesday, with investors digesting Red Sea developments
Crude oil futures retreated on Wednesday, erasing approximately half of the gains from the previous session. Nevertheless, the persistently deteriorating security situation in the Middle East kept prices near one-month highs due to potential threats to energy shipments. Hence, Brent crude declined by 1.8% to settle at $79.65 a barrel. U.S. WTI crude decreased by about $2% to 74.11 a barrel.
read more... 28/12/2023
Daily (08.12.2023): Gas and power forward prices extended gains on Thursday amid stronger demand and supply concerns due to colder weather
On Thursday, oil prices experienced a minor decline as the bearish sentiment persisted, driven by indications of weakened global demand, particularly from China, the largest oil importer globally. Nevertheless, declining U.S. stocks limited losses. Thus, Brent crude settled at $74.05 per barrel, while WTI crude closed at $69.34 per barrel.
read more... 08/12/2023
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National Grid Launches Massive $52 Billion Infrastructure Overhaul
National Grid has announced a wide range of policies and investments aimed at upgrading the U.K. and U.S. grid systems and tackling the backlog of energy projects waiting to be connected. While this is optimistic for the energy infrastructure of the two countries, climate activists are concerned that some of the moves may deter investment in renewable energy projects as the connectivity outlook remains uncertain. In addition, energy experts have repeatedly stated the enormous magnitude of the task of upgrading the U.K. and U.S. grid systems, with a multitude of challenges standing in the way of achieving the goal.
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