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Daily (09.06.2020): European spot electricity prices returned at pre-lockdown levels on Monday amid higher demand, lower renewables and nuclear output

Crude oil futures lost ground on Monday despite OPEC+ cuts as traders switched their focus on the announce that top producer Saudi Arabia and Gulf producers are not willing to extend cuts after June. Hence, Brent crude for August delivery fell by $1.50, or 3.6%, to settle at $40.80 a barrel. At the same time, U.S. WTI crude shed by $1.36, or 3.4%, to end at $38.19 a barrel.

read more... 09/06/2020

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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 (13.05.2020): Crude oil futures recovered on Tuesday amid additional supply cuts by Saudi Arabia

Crude oil futures gained ground on Tuesday, after OPEC’s de facto leader, Saudi Arabia, pledged to deepen production cuts in June to help drain the glut in the global market. Hence, Brent crude futures rose by 35 cents, or 1.2%, to settle at $29.98 per barrel, while the U.S. WTI crude soared by $1.64, or 6.8%, to settle at $25.78 per barrel.

read more... 13/05/2020

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Daily (12.05.2020): British near-term gas prices lost ground on Monday amid a re-routing of French gas to UK

Crude oil futures started the week on the back foot, weighed down by investor fears of a second wave of Covid-19 which offset new output cuts from Saudi Arabia. Hence, Brent crude for July delivery fell by $1.34, or 4.3%, to settle at $29.63 a barrel. At the same time, U.S. WTI crude dropped by 60 cents, or 2.4%, to settle at $24.14 a barrel.

read more... 12/05/2020

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Daily (08.05.2020): German Cal’21 power contract bounced by 1.3% on Thursday in tandem with stronger coal, carbon prices

Crude oil futures declined on Thursday amid doubts about the ability of oil giants to comply with their production quotas in an attempt to stabilize the market. Moreover, worries about economic recession, sluggish demand and oversupply eclipsed a rebound in Saudi Arabia’s official crude selling and an unexpected rise in Chinese exports last month.

read more... 08/05/2020

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