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Daily (05.04.2023): Spot electricity prices in Europe gained ground on Tuesday due to declining wind power output
Oil prices ended Tuesday’s session rather flat to bullish, failing to capitalize further on surprise output cuts by several members of the OPEC+ alliance, with the market more concerned about demand than supply. As a result, Brent crude ended at $84.94 a barrel, while WTI crude edged around 0.4% higher to settle at $80.71.
read more... 05/04/2023
Daily (04.04.2023): The energy complex in a strong bullish mood on Monday
Crude oil prices increased on Monday on expectations that China would take steps to boost economic growth. At the same time, the OPEC+ group's unexpected announcement of additional production cuts lent further support. Thus, both Brent and WTI crude soared by over 6%, to settle at $84.93 and $80.42 a barrel respectively.
read more... 04/04/2023
Daily (20.02.2023): Oil prices continued their bearish evolution on Friday, despite forecasts of rising Chinese demand
Oil prices continued their bearish trend on Friday, despite forecasts of rising Chinese demand, as oil producers are expected to maintain current volumes of crude exports and OPEC+ agreement will continue until the end of the year. Thus, Brent crude oil posted a 2.5% day-on-day loss to settle at $83.00 a barrel.
read more... 20/02/2023
Daily (16.02.2023): EUAs hit a seven-session high on Wednesday, as traders are looking to liquidate their short positions
OPEC and the International Energy Agency both increased their demand forecasts for the year on Wednesday, shaking off the U.S. Energy Information Administration (EIA) report of a large increase in U.S. crude inventories, which resulted in only a slight decline in oil prices. Hence, Brent crude oil edged down at $85.38 a barrel.
read more... 16/02/2023
Daily (31.01.2023): Energy prices turned bullish again on Monday
Oil prices dropped on Monday as investors are anticipating the US Federal Reserve (Fed) interest rate announcement as well as the conclusion of the OPEC+ meeting. Hence, Brent crude oil has weakened by 2% to settle at $84.90 a barrel. Similarly, U.S. WTI crude ended at $77.90 a barrel, or a 2% daily loss.
read more... 31/01/2023