Latest news
Daily (07.08.2019): NBP spot plunged by 12.8% on Tuesday, due to rising production at the Bacton and Teesside facilities
Crude oil prices declined on Tuesday, on worries about the U.S. China trade war that might weigh on the global crude demand. Consequently, Brent crude dropped by 1.5% to $58.94 a barrel, while WTI futures decreased by 1.9% to $53.63 a barrel.
read more... 07/08/2019
Daily (01.08.2019): NBP spot soared by over 5% on Wednesday, amid lower supply and stronger buying interest
A larger-than-anticipated decline in the U.S. crude inventories led to a further rise in crude oil prices on Tuesday. Furthermore, the interest rates were eventually lowered by the U.S. Federal Reserve, adding to the bullish market sentiment. Brent crude traded 0.7% higher at $65.17 a barrel, while WTI futures nudged up by 0.9% to $58.58 a barrel, as gains were reduced by waning hopes for an upcoming U.S.-China trade deal, as the negotiators postponed their next meeting until September.
read more... 01/08/2019
Daily (30.07.2019): NBP spot dropped by 2.4% on Monday, due to stronger Norwegian flows and weak demand
Crude oil prices inched up on Monday, amid expectations that U.S. Federal Reserve might lower the borrowing costs this week for the first time in over a decade. Ongoing supply concerns around the Strait of Hormuz also supported prices. Still, on demand side, reduced hopes for a trade deal between the U.S. and China before the 2020 U.S. election, limited gains. As a result, Brent crude traded 0.4% higher at $63.71 a barrel, while WTI futures climbed by 1.2% to $56.87 a barrel.
read more... 30/07/2019
Saudis To Boost Oil Pipeline Capacity To Bypass Strait of Hormuz
Saudi Arabia is looking to raise the capacity of its east-west oil pipeline to 7 million bpd in two years from the current 5 million bpd, the Kingdom’s energy minister Khalid al-Falih told Reuters on Thursday.
read more... 26/07/2019
Daily (25.07.2019): NBP spot plunged by 3.7% on Wednesday, as Sterling hit a one-month high versus the euro
Crude oil prices nudged down on Wednesday, despite a large decrease in U.S. crude stockpiles as investors are concerned about global oil demand. Saudi Arabia’s and Kuwait’s plans to resume oil production in the Saudi–Kuwaiti Neutral Zone also put pressure on oil prices. As a result, Brent crude inched 1% down at $63.18 a barrel, while WTI futures settled 1.6% lower at $55.88 a barrel.
read more... 25/07/2019