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Daily (12.08.2019): European spot power prices plummeted by nearly 70% on Friday due to a surge in renewables output

Oil prices continued to climb on Friday, in response to weaker Euroilstock data, which showed a decrease in the total crude and product inventories of 16 European countries in July. Prices also drew support from OPEC supply cuts and Saudi Arabia’s commitment to bring the oil market back to balance. Hence, Brent crude rose by 2% to $58.53 a barrel. Concurrently, WTI futures surged by 3.7% to $54.50 a barrel, on lower production growth forecasts after U.S. drillers slashed the active oil rig count for a sixth straight week.

read more... 12/08/2019

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New mega cartel is emerging in oil markets

Almaty. April 30. KazTAG - China and India—two of the world’s largest oil importers and the biggest demand growth centers globally—are close to setting up an oil buyers’ club to have a say in the pricing and sourcing of crude oil amid OPEC’s cuts and U.S. sanctions on Iran and Venezuela, Indian outlet livemint reports, citing three officials with knowledge of the talks, reports OilPrice.com.

read more... 30/04/2019

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Daily (30.01.2019): Oil prices climbed back on Tuesday following U.S sanctions on Venezuela

An upward trend was noticed in the oil markets on Tuesday, as U.S. sanctions on state-owned Venezuelan oil company PDVSA could influence global supply. On the other side, concerns over global economy might still put a lid on prices. Brent crude rose by 2.3% to 61.32 USD/bbl, while WTI crude was up by 2.5% settling at 53.31 USD/bbl.

read more... 30/01/2019

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Daily (23.01.2019): European carbon prices up by nearly 3% on Tuesday to hit 3-week peaks

A downward trend was noticed in the oil markets on Tuesday, as persistent worries over Chinas’ economic slowdown and its potential negative impact on oil demand weighed on prices. IMF’s warning about increased risk of slowing global growth in the context of U.S.-China trade dispute put more pressure on prices. Consequently, Brent crude lost nearly 2% to settle at $61.50 a barrel. At the same time, WTI futures declined by 2.1% to $53.01 a barrel.

read more... 23/01/2019

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Daily (14.01.2019): Oil prices down by around 2% on Friday on concerns over global economic growth

Oil prices lost nearly 2% as the recent pessimistic economic data added to persisting worries about global economic growth. Nevertheless, oil markets posted gains on a weekly basis, due to OPEC-led output cuts and expectations for progress in U.S.-China trade talks. Brent crude fell by around 2% to $60.48 a barrel, while WTI futures settled about 2% down to $51.59 a barrel.

read more... 14/01/2019

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