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Daily (21.10.2020): WTI crude at its highest level in seven weeks on Tuesday amid U.S. stimulus deal hopes

Crude oil futures rebounded on Tuesday after four sessions of losses, with WTI crude hitting its highest settlement in almost seven weeks amid expectations for a weekly decline in U.S. crude stockpiles. The resumption of U.S. stimulus negotiations added further upward momentum on the oil markets. Hence, Brent crude for December delivery rose by 54 cents, or 1.3%, to settle at $43.16 a barrel. Meanwhile, WTI crude for November delivery soared by 64 cents, or 1.6%, to end at $41.70 a barrel.

read more... 21/10/2020

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Daily (09.10.2020): NBP gas for month-ahead delivery hit an almost 10-month peak on Thursday tracking higher oil and LNG prices

Crude oil futures hit their highest level in more than a month on Thursday as Hurricane Delta forces paralyzed nearly 92% of crude output in the Gulf of Mexico, while Saudi Arabia envisages postponing OPEC plans to boost output. The prospect of more production outages in the North Sea due to a workers’ strike added further support to oil markets. Hence, Brent crude for December delivery jumped by $1.35, or 3.2% to settle at $43.34 a barrel. Meanwhile, U.S. WTI crude surged by $1.24 cents, or 3.1%, to end at $41.19 a barrel.

read more... 09/10/2020

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Daily (22.09.2020): Crude oil started the new week on a bearish mood amid virus resurgence in Europe and expectations for return of Libyan crude production

Expectations that Libyan crude will soon return to the market coupled with worries over a rise in European COVID-19 cases and a global equity market selloff dampened the sentiment on the oil markets on Monday. Hence, Brent crude for November delivery shed by $1.71, or 4% to settle at $41.44 a barrel. Meanwhile, U.S. WTI crude fell by $1.80, or 4.4%, to end at $39.31 a barrel.

read more... 22/09/2020

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Daily (21.09.2020): German spot power price fell by more than 13% on stronger wind output

A slide in oil prices was noticed on Friday, as worries about the increasing number of coronavirus infections across the world stalled oil demand. Furthermore, a potential return of oil output from Libya weighed on the oil market. However, a new tropical storm in the U.S. Gulf of Mexico limited losses. Hence, Brent crude slipped by 0.4% to $43.15 a barrel. At the same time, the American WTI dropped by 0.3% to $41.11 a barrel.

read more... 21/09/2020

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Daily (18.09.2020): European carbon prices fell by more than 5% on Thursday due to stronger selling

Oil prices rose for the third consecutive day on Thursday, following OPEC’s meeting which had a positive influence on market. However, oil market is still kept under pressure, due to higher supply and flagging demand. Hence, Brent crude soared by nearly 2.6% to $43.30 a barrel. While the American WTI crude gained 2% to settle at $40.97 a barrel.

read more... 18/09/2020

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