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Daily (22.05.2019): NBP spot ended down by nearly 3% on Tuesday due to higher Norwegian flows
The outlook of a tighter supply fuelled by the growing tensions in the Middle East and OPEC’s constant commitment to cut output supported oil prices on Tuesday. Meanwhile, gains were capped by the lengthy U.S.-China trade dispute and its bearish impact on the global economic growth. Brent crude price edged higher by 0.3% to 72.18 USD/bbl, while WTI futures were only 0.1% up at 63.13 USD/bbl.
read more... 22/05/2019
Daily (20.05.2019): NBP spot price slumped by 7.5% on Friday amid system oversupply
Oil prices lost momentum on Friday, weighed by persistent concerns over a weakening demand because of the stalemate in the U.S.-China trade negotiations. However, the decline in the Iranian and Russian exports along with reduced shipments from the North Sea capped losses. As a result, Brent crude retreated by 0.6% to 72.21 USD/bbl. In the meantime, WTI Crude price slipped by 0.2% to 62.76 USD/bbl.
read more... 20/05/2019
Russia Oil Production Dips
Russia’s crude oil production averaged 11.16 million bpd in the first twelve days of May, Oil Price reported on Tuesday, citing two industry sources, which means that Moscow is finally within its cap under the OPEC+ deal.
read more... 15/05/2019
Daily (14.05.2019): NBP day-ahead price tumbled by 8.1% on Monday, due to milder weather forecasts
Crude oil prices lost ground on Monday, as China-US trade negotiations escalated further, and China claims to impose higher tariffs on a range of U.S. goods. Investors fear that the trade war can intesify and cause disturbances in global economy. As a result, Brent crude edged 0.6% lower to $70.23 a barrel, while WTI futures traded 1% lower at $61.04 a barrel.
read more... 14/05/2019
Daily (10.05.2019): NBP spot soared by 10.8% on Thursday, due to lower Norwegian flows
Oil prices slightly diverged on Thursday, as investors were uncertain about the outcome of the still unsettled U.S.-China trade dispute. Brent crude was almost flat at $70.39 a barrel. WTI futures lost 0.7% to close at $61.70 a barrel.
read more... 10/05/2019