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Daily (29.10.2020): Partial lockdowns worldwide weigh on energy demand and on the entire energy complex

Crude oil tumbled by over 5% on Wednesday, as US oil stocks increased more than expected, while overall demand is expected to fall. As such, Brent oil ended at $39.12 a barrel, down 5.1%, or $2.08, from Tuesday’s close and WTI crude dropped by 5.5% to close at $37.39 a barrel.

read more... 29/10/2020

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Daily (28.10.2020): British near-term gas prices hit one-week low on Tuesday amid a less cold weather, strong wind power generation

Oil futures rebounded on Tuesday after the Tropical Storm Zeta slashed considerably the energy output in the Gulf of Mexico, while worries about the impact on demand from the ongoing surging globally in COVID-19 cases continue to weigh on the market. Hence, Brent crude for December delivery rose by 74 cents, or 1.8%, to end at $41.20 a barrel. At the same time, U.S. WTI crude for December delivery soared by $1.01, or 2.6%, to settle at $39.57 a barrel.

read more... 28/10/2020

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Daily (27.10.2020): Brent and WTI crude settled at 3-week lows on Monday amid surging coronavirus cases worldwide

Crude oil futures fell on Monday in response to surging coronavirus cases in the US and Europe, where several countries have already implemented new restrictions, raising concerns about the impact of the pandemic on oil demand. Extra pressure on oil prices comes from increasing Libyan crude oil production and exports after the country recently lifted the force majeure. Hence, Brent crude shed by $1.31, or 3.1%, to settle at $40.46 a barrel. U.S. WTI crude dropped by $1.29, or 3.2%, to close at $38.56 a barrel. Both, WTI and Brent crude marked their lowest settlements since Oct. 2.

read more... 27/10/2020

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Lower prices drive Asia's demand for LNG as ship fuel

Globally, LNG is expected to account for 10 per cent of overall marine fuel mix by 2030, up from less than 0.1 per cent last year, he added

read more... 27/10/2020

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Daily (22.10.2020): Oil prices fell sharply on Wednesday due to increased gasoline stocks in the US and weak demand

Oil prices retreated on Wednesday weighed by an increase in gasoline stocks in the US and weak demand because of the second wave of the Covid-19 pandemic. Furthermore, Libyan oil return to the market also put pressure on prices. Brent crude traded 3.3% lower at $41.73 a barrel, while WTI oil dropped by 4% to close at $40.03 a barrel.

read more... 22/10/2020

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