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Daily (27.10.2020): Brent and WTI crude settled at 3-week lows on Monday amid surging coronavirus cases worldwide

Crude oil futures fell on Monday in response to surging coronavirus cases in the US and Europe, where several countries have already implemented new restrictions, raising concerns about the impact of the pandemic on oil demand. Extra pressure on oil prices comes from increasing Libyan crude oil production and exports after the country recently lifted the force majeure. Hence, Brent crude shed by $1.31, or 3.1%, to settle at $40.46 a barrel. U.S. WTI crude dropped by $1.29, or 3.2%, to close at $38.56 a barrel. Both, WTI and Brent crude marked their lowest settlements since Oct. 2.

read more... 27/10/2020

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Israel And The UAE Sign Historic Oil Deal

Israel and the United Arab Emirates (UAE) signed this week a preliminary agreement under which crude oil from OPEC’s third-largest producer could be shipped to European markets via an oil pipeline in Israel connecting the Red Sea with the Mediterranean.

read more... 22/10/2020

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Daily (20.10.2020): Colder weather and stronger LNG prices supported front-month British gas prices at the beginning of the new week

Crude oil futures continued to slip on Monday as the OPEC+ panel has made no new policy proposals from January 2021. Moreover, a resurgence of the coronavirus in Europe and the U.S. threatened to hinder a recovery in demand. Consequently, Brent crude slipped by 31 cents, or 0.7%, to settle at $42.62 a barrel. U.S. WTI crude ended rather flat at $40.83 a barrel.

read more... 20/10/2020

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Electric cars to triple market share in Europe amid COVID-19

This saw electric cars more than triple their market share in the European Economic Area (EEA), compared with the first half of last year, T&E said

read more... 13/10/2020

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Daily (12.10.2020): European carbon prices fell to a seven-week low on Friday following heavy auction supply and Covid worries

The end of one of the oil workers’ strike in Norway led to a ramp up in crude output on Friday, thereby weighing on oil prices. Hence, Brent crude decreased by 1.1% to $42.85 a barrel. Similarly, WTI futures lost 1.8% to trade at $39.95 a barrel.

read more... 12/10/2020

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