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Russia’s oil output rebounds from 3-year-low

Russia’s oil production in the past few days has recovered to the ceiling that Moscow has pledged in the OPEC+ deal, Russian Energy Minister Alexander Novak said, after output had dropped to nearly 3-year lows in the 1st days of July, Oilprice reported.

read more... 22/07/2019

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Daily (15.07.2019): NBP spot surged by 4.7% on Friday, due to rising gas-for-power demand ahead of an expected 3-day hot spell

Crude oil prices slightly rose on Friday, after a tropical storm in the Gulf of Mexico caused disruptions in the local production, while tensions between Iran and the West continued to mount. Consequently, Brent crude traded 0.3% higher at $66.72 a barrel. However, forecasts for a global oil supply glut from the International Energy Agency and OPEC limited the gains, with WTI futures remaining almost flat at $60.21 a barrel.

read more... 15/07/2019

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Daily (10.07.2019): NBP spot declined by 3.7% on Tuesday, as a correction from the previous bullish session

Crude oil prices nudged up on Tuesday, due to OPEC+ supply cut extension and rising tensions in the Middle East. However, U.S.-China trade dispute limited the gains. As a result, Brent crude inched up by 0.1% to $64.16 a barrel, while WTI futures closed 0.3% higher at $57.83 a barrel.

read more... 10/07/2019

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Daily (8.07.2019): NBP day-ahead jumped by 9.6% on Friday, due to outages at the Nyhamma gas plant

Oil prices reversed trend adding gains on Friday, bolstered by the rising tensions in Iran and a decision by OPEC and its allies to extend oil supply cuts until next year. Nevertheless, weak manufacturing data from around the globe limited oil gains. As a result, Brent crude climbed by 1.5% to $64.23 a barrel, while WTI futures inched up by 1.3% to $57.51 a barrel.

read more... 08/07/2019

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Daily (05.07.2019): EU carbon prices dropped by around 1.8% on Thursday in a weaker auction

Crude oil prices declined in a thin trading due to a public holiday in the U.S. on Thursday, influenced by a smaller-than-anticipated drop in the U.S. crude inventories. Concerns of a scarce demand stoked by weaker U.S. factory orders and slower business growth in Europe also weighed on prices. However, this week’s decision on the extension of OPEC+ output cuts limited losses. Against that background, Brent crude lost 0.8% to settle at $63.30 a barrel, while WTI futures ended 0.9% lower at $56.80 a barrel.

read more... 05/07/2019

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