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Daily (24.08.2020): NBP spot tumbled by 7% on Friday as strong wind weighed on gas-for-power demand.
Oil prices declined on Friday amid concerns over the second wave of the Covid-19 that could dent fuel demand. However, better than expected data for US housing and manufacturing indicators limited the losses. As a result, Brent crude fell 1.2% to settle at $44.35 a barrel. Similarly, WTI futures lost 1.1% to end at $42.34 a barrel
read more... 24/08/2020
Daily (19.08.2020): NBP spot at a 5-month high on Tuesday amid higher LNG prices globally
Crude oil futures barely changed on Tuesday as the market participants watched the upcoming U.S. government data expected to show a fourth straight weekly drop in stockpiles. However, OPEC+ high compliance with supply cuts in July added little support to oil prices. Consequently, Brent crude rose by 0.2% to settle at $45.46 a barrel. At the same time, U.S. WTI crude remained unchanged at $42.89 a barrel.
read more... 19/08/2020
Daily (10.08.2020): NBP spot hit a new 5-month high on Friday
Oil prices declined on Friday amid uncertainty caused by negotiations over a new stimulus deal in the United States. Moreover, rising coronavirus cases could renew concerns over global fuel demand. Brent crude fell 1.5% to settle at $44.40 a barrel. Similarly, WTI lost 1.7% to end at $41.22 a barrel.
read more... 10/08/2020
Daily (03.08.2020): NBP spot climbed by 5% on Friday, due to higher gas-for-power demand
Crude oil prices inched higher on Friday, stimulated by a weaker dollar and record high oil supply cuts by US in May. Consequently, Brent crude rose by 1.2% to $43.75 a barrel, while WTI futures increased by 0.6% to $41.27 a barrel.
read more... 03/08/2020
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Daily (06.07.2020) NBP spot plunged by almost 5% on Friday influenced by an upward revision of the French nuclear output.
Crude oil prices lost momentum on Friday, on renewed fears over global fuel demand as U.S reported a surge in coronavirus cases. Nevertheless, signs of improving global economy and OPEC+ record high supply cuts limited the loss. As a result, Brent crude decreased by 0.8% to $42.80 a barrel. Similarly, WTI futures traded 1% lower at $40.24 a barrel.
read more... 06/07/2020