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Daily (18.07.2023): Spot electricity prices in Europe rebounded by more than 200% on Monday, amid plummeting wind and solar output
On Monday, oil prices declined for the second consecutive day as traders grew more skeptical about the resilience of China's economic rebound in the absence of government assistance. Consequently, WTI crude experienced a 1.7% drop , reaching $74.15 per barrel. At the same time, Brent crude also declined by 1.7%, settling at $78.50 per barrel.
read more... 18/07/2023
Daily (12.07.2023): Oil prices rose by over 2% on Tuesday as production cuts by OPEC+ offset worries about the global economic outlook
Oil prices rose on Tuesday as production cuts by OPEC+ and a slight decline in the value of the US dollar counterbalanced worries about the global economic situation, which included indications of reduced demand from China. Thus, WTI crude traded 2.5% higher at $74.83 a barrel, while Brent crude increased by 2.2% to settle at $79.40 a barrel.
read more... 12/07/2023
Daily (11.07.2023): Oil prices slipped by 1% on Monday amid ongoing concerns about global economy
On Monday, crude oil prices decreased amid continued global macroeconomic concerns. Sluggish economic recovery in China combined with ongoing macro uncertainty in the US outweighed production cuts from both Saudi Arabia and Russia. Thus, Brent crude slipped by 1% to settle at $77.69 a barrel. Meanwhile, WTI crude dropped by 1.2% to end at $72.99 a barrel.
read more... 11/07/2023
Daily (07.07.2023): British gas prices fell on Thursday amid continuing high stock level
Crude oil prices ended rather flat on Thursday as the combined production cuts from Saudi Arabia and Russia were offset by a possible U.S. interest rate hike. Moreover, economic data concerns from Eurozone and China weighed on price. Hence, Brent crude edged 0.2% lower at $76.52 a barrel. Meanwhile, WTI crude almost closed unchanged at $71.80 a barrel.
read more... 07/07/2023
Oil prices fell on Tuesday amid increased concerns of a global economic slowdown
On Tuesday, crude oil prices inched lower due to weaker macroeconomic data from China. Moreover, indications of further rate hikes in the US also weighed on prices. Hence, Brent crude dropped by 2.6% to settle at $72.26 a barrel. Meanwhile, WTI crude traded at $67.70 a barrel, declining by about 2.4% day-on-day.
read more... 28/06/2023