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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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Daily (11.01.2019): German spot power price fell by 26% on Thursday due to strong wind generation

Oil prices edged slightly higher on Thursday, tracking bullish equity markets following comments from the U.S. Federal Reserve chairman. However, gains were capped by waning optimism about the three-day U.S.-China trade talks, as these finalized with no concrete details. Concerns about a potential slowdown in global economy fuelled by weaker Chinese economic data also limited the rally in oil markets. On that background, Brent crude inched 0.4% up to $61.68 a barrel, while WTI futures settled 0.4% higher at $52.59 a barrel.

read more... 11/01/2019

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