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Brent crude oil stays above $75 amid impasse in OPEC+ talks
Oil prices were little changed in early Asian trade on Monday as an impasse in talks among key producers to raise output in coming months kept supplies tight, offsetting concerns about coronavirus' impact on the global economy.
read more... 12/07/2021
Daily (18.06.2021): Oil prices took a breather from the long-lasting uptrend due to a strong Dollar and a hike in UK Covid cases
Crude oil prices retreated from their highest level in years on Thursday amid a strong U.S. Dollar after the U.S. Federal Reserve signaled it might raise interest rates as soon as 2023. The hike in new coronavirus cases in the UK put additional pressure on oil prices. Hence, Brent crude dropped by 1.8% to settle at $73.08 a barrel. Meanwhile, U.S. WTI crude fell by 1.5% to end at $71.04 a barrel.
read more... 18/06/2021
Daily (16.06.2021): European carbon prices dropped by 2.8% on Tuesday amid larger-than-expected German EUA allocation
Crude oil prices continued their steady uptrend on Tuesday, with the market still focusing on the increasing hopes of a post-coronavirus demand recovery, and even though numbers are rising again in the UK, the overall optimism is still dominating. Hence, Brent crude rose by 1.6% to settle at $73.99 a barrel. Meanwhile, U.S. WTI crude increased by 1.8% to $72.12 a barrel.
read more... 16/06/2021
Daily (15.06.2021): Near-term electricity prices in Europe hit multi-year highs on Monday amid low wind, heat
Crude oil prices moved sideways on Monday, with the market still focused on the coronavirus recovery around the world, but the prolonging of restrictions in the UK tempered the gains. In the U.S., prices retreated slightly as the market seemed to focus on the next monetary policy meeting of the U.S. Central Bank (Fed), which begins on Tuesday. Hence, Brent crude rose slightly by 0.2% to settle at $72.86 a barrel. Meanwhile, U.S. WTI crude steadied at $70.88 a barrel.
read more... 15/06/2021
Daily (09.06.2021): Crude oil prices hit multi-year highs on Tuesday amid barriers to the revival of Iran's nuclear deal
Oil prices continued the steady upturn to settle at multi-year highs on Tuesday after the U.S. asserted that the return of the Iranian crude supply would not happen soon even if the United States were to reach a nuclear deal with Iran. The visible global recovery following the coronavirus, with lockdown restrictions loosened in most countries, added to the upside. Hence, Brent crude increased by 15 to settle at $ 72.22 a barrel. U.S. WTI crude rose by 1.2% to $70.05 a barrel.
read more... 09/06/2021