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Daily (06.12.2019): German spot power down 26% on Thursday on strong wind output

Crude oil prices evolved differently on Thursday, with WTI prices ending flat and Brent slightly up as traders awaited a decision on output from major oil producers. Brent crude rose by 39 cents, or 0.6%, to settle at $63.39 a barrel, after a hike of 3.6% in the previous session. WTI crude remained unchanged at $58.43 a barrel on the NYMEX, after surging by 4.2% the previous day. A committee of oil producers led by Saudi Arabia and Russia recommended on Thursday that the group increase their current oil production cuts by 500,000 barrels a day.

read more... 06/12/2019

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S. Arabia and Russia to boost energy cooperation

Saudi Arabia and Russia are set to form a new alliance for investments in energy and infrastructure, according to Russia's Energy Minister Alexander Novak on Monday.

read more... 15/10/2019

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Daily (30.09.2019): European spot power prices seen in a sharp fall on Friday due to strong supply

Crude oil prices lost ground on Friday, after media reported about a potential reduction of the U.S. investment portfolio into China, raising prospects of an aggravation of the U.S.-China trade tensions. Further pressure came from a contraction in the profits earned by Chinese industrial companies in August. In addition, Saudi Arabia’s strong efforts to bring its oil output back on track sooner than expected continued to weigh on prices. Brent crude fell by 1.3% to $61.91 a barrel, while WTI futures inched down by 0.9% at $55.91 a barrel.

read more... 30/09/2019

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Daily (26.09.2019): NBP spot tumbled by 6.7% on Wednesday weighed by robust LNG send-outs

Oil prices extended losses on Wednesday, after an unexpected rise in U.S. crude stockpiles and a faster-than-awaited recovery of Saudi Arabia’s oil production. A rally in the dollar index, which moves inversely with oil, also put pressure on crude futures. As a result, WTI futures dropped by 1.4% to 56.49 USD/bbl, while Brent crude ended 1.1% lower at 62.39 USD/bbl.

read more... 26/09/2019

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Daily (24.09.2019): European day-ahead power prices soared by almost 40% due to weaker renewables output and colder weather

Oil prices stabilized on Monday, after gaining 7% last week, following the declaration of Saudi Arabia to restore full output by next week. Brent crude rose by 0.8% to close at $64.77 a barrel, while WTI futures surged by 1% to end at $58.64 a barrel.

read more... 24/09/2019

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