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Daily (07.06.2019): NBP spot price plunged by 5.5% on Thursday, amid persistent oversupply

Crude oil prices rose on Thursday, following the hiking U.S. stocks which were boosted by a report showing that U.S. could delay tariffs on imported goods from Mexico. Brent crude added 1.7% to trade at $61.67 a barrel, while WTI futures jumped by 1.8% to $52.59 a barrel. Still, last week’s surge in U.S. crude stocks coupled with new threats from U.S. President Donald Trump to impose tariffs on further Chinese goods could limit the rally.

read more... 07/06/2019

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Daily (06.06.2019): Crude oil prices fell by around 3% on Wednesday, due to higher inventories and low demand outlook

A surprise surge in the U.S. crude inventories put pressure on oil futures on Wednesday. Moreover, the outlook of a slowing global oil demand maintained by the ongoing U.S. trade differences with China and Mexico also weighed on prices. As a result, WTI futures dropped by 3.4% to $51.68 a barrel, while Brent crude lost 2.2% to close at $60.63 a barrel.

read more... 06/06/2019

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Daily (04.06.2019): The EUAs dipped by nearly 3% to a two-month low on Monday, amid weak demand and an expected surge in supply

Crude oil prices continued to fall on Monday, under the heavy influence from the ongoing demand-side concerns stoked by U.S.-China trade tensions and threats of U.S. tariffs on Mexico. Brent crude slumped by 5% to $61.28 a barrel, while WTI futures traded 0.5% lower at $53.25 a barrel.

read more... 04/06/2019

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Daily (03.06.2019): Crude oil prices hit a six-month low on Friday, amid growing global trade tensions

Crude oil prices dipped to a six-month low on Friday, due to a worsening outlook for the global trade after U.S. President Donald Trump warned that the U.S. will levy a 5% tariff on its imports from Mexico effective from June 10, until the latter stops the illegal immigration flows into the U.S. The latest tariff threats added to the ongoing bearish impact from the prolonged U.S-China trade war. Brent crude sank by 3.6% to $64.49 a barrel, while WTI futures plunged by 5.5% to $53.50 a barrel.

read more... 03/06/2019

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Shell begins production from Appomattox oil and gas field in Gulf of Mexico

The Appomattox field, which is located approximately 128km southeast of Louisiana in the deep-water Gulf of Mexico, has commenced production

read more... 24/05/2019

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