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Daily (29.06.2020): Brent and WTI dropped by 2.8% and 3.2% for the week as the coronavirus spread is likely to cloud the demand outlook

Crude oil futures turned bearish on Friday as the spread of coronavirus in the U.S. and China are expected to hurt demand recovery. However, a record build-up in U.S. crude inventories added further pressure on the WTI crude price. Hence, Brent crude steadied at $41.02 a barrel. At the same time, U.S. WTI crude fell by 23 cents, or 0.6%, to settle at $38.49 per barrel. For the week, Brent dropped by 2.8%, while WTI crude shed by 3.2%.

read more... 29/06/2020


Daily (24.06.2020): EUAs surpassed the €25- level for the first time in four months on Tuesday amid bullish economic data

Crude oil futures pulled back off the highest levels since before the coronavirus pandemic on Tuesday amid a sharp increase in COVID-19 cases and before the release of a weekly report which is expected to reveal that crude inventories have reached a new all-time high in the United States. However, the reassurance by the U.S. President Donald Trump that the trade agreement with China was “fully intact” limited losses. Hence, Brent crude declined by 45 cents, or 1%, to settle at $42.63 per barrel. At the same time, U.S. WTI crude settled 36 cents, or 0.9%, lower at $40.37 per barrel.

read more... 24/06/2020


Shell to supply carbon-neutral LNG cargoes to China’s CNOOC

LNG giant Shell said it recently signed a deal to supply carbon-neutral liquefied natural gas cargoes to CNOOC Gas & Power Group, a unit of China National Offshore Oil Corporation.

read more... 22/06/2020


Daily (19.06.2020): EUAs broke key technical resistance levels, to trade above €24 on Thursday amid speculator sentiment, bullish auction result

Crude oil futures climbed on Thursday following the OPEC+ monitoring panel meeting that emphasized the critical importance of adhering to full conformity. However, additional coronavirus cases reported in parts of the United States and China added to market jitters. Hence, Brent crude for August delivery soared by 80 cents, or 2%, to settle at $41.51 a barrel. At the same time, U.S. WTI crude settled at $38.84 a barrel, up 88 cents, or 2.3%.

read more... 19/06/2020


UK firms break into Chinese renewable energy market

Eight UK organisations have signed new agreements to develop and provide renewable energy technologies, services and research in China.

read more... 10/06/2020