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Daily (25.06.2020): Oil prices fell sharply by over 5% on Wednesday amid surging coronavirus cases and a record increase in U.S. crude stocks

Crude oil futures fell sharply on Wednesday as new coronavirus cases in Germany and across several U.S. states is threatening oil recovery. Moreover, the record increase in U.S. crude inventories added further pressure on oil markets. Hence, Brent crude dived by $2.32, or 5.4%, to settle at $40.31 a barrel. At the same time, U.S. WTI crude ended at $38.01 a barrel, sinking by $2.36, or 5.8%.

read more... 25/06/2020

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Daily (26.06.2020): German forward prices increased by over 2% on Monday tracking stronger carbon prices

Oil markets were relatively quiet with no significant movements on Monday due to Memorial Day in US and Spring Bank Holiday in the UK. However, o firmer demand and output cuts lent support to prices.

read more... 26/05/2020

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Saudi Arabia and Russia pledge commitment to oil market stability

Saudi Arabia and Russia are committed to maintaining oil market stability as world oil demand remains squeezed from the economic fallout of the coronavirus pandemic.

read more... 14/05/2020

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Daily (05.05.2020): British gas prices firmed on Monday amid a short system, higher exports and bullish oil markets

Crude oil futures edged higher on Monday as more countries unveiled they would begin easing coronavirus lockdowns and after the production quotas for the main oil exporting countries entered into force at the end of last week. Hence, Brent crude for July delivery soared by 76 cents, or 2.9%, to settle at $27.20 a barrel. At the same time, U.S. WTI crude surged by 61 cents, or 3%, to settle at $20.39 a barrel.

read more... 05/05/2020

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Daily (03.04.2020): Brent and WTI surged by 21% and 25% respectively on Thursday as Trump signalled the price war might end soon

Crude oil futures increased considerably on Thursday, posting their biggest spike in a single session following a message from Donald Trump promising a reduction in Russian and Saudi production to rebalance the black gold market devastated by the covid-19 pandemic. At the same time, Saudi Arabia called for an urgent meeting of the OPEC and other countries, including Russia, to re-establish a balance in the oil markets.

read more... 03/04/2020

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