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Daily (25.02.2021): Carbon EUAs gained 1.2% on Wednesday amid a rising energy market

Crude prices continued to climb on Wednesday, supported by a decline in US oil supply after a historically cold weather hit the country's main oil regions. As a result, Brent crude increased by 2.6% to $67.04 a barrel and WTI oil rose by 2.5% to $63.22 a barrel.

read more... 25/02/2021

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Daily (24.02.2021): Oil prices stable after record highs, but general bullish sentiment is surrounding the market

Crude oil prices diverged on Tuesday, but ended rather flat after hitting fresh 2021 highs amid a lack of major events to impact the oil sellers. Hence, Brent crude added 0.2% to settle at $65.37 a barrel, buoyed by signs that global coronavirus restrictions were being eased. Meanwhile, U.S. WTI crude steadied at $61.67 a barrel amid uncertainty about the return of Texas crude production and concerns about the pace of a U.S. economic recovery.

read more... 24/02/2021

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Oil products caught between Covid and green push

Most forecasts for products demand and prices have been steadily revised upwards as vaccination programmes have got underway and this has created positive market sentiment, Argus' global head of oil products Stephen Jones told the forum held today during the IP Week conference. But, any actual demand recovery will depend on how quickly governments lift lockdown measures. One major unknown is how well the vaccines will deal with new variants of Covid-19.

read more... 24/02/2021

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Qatar's LNG Megaprojects Are Making Markets Increasingly Competitive

Qatar Petroleum’s recently set a new record for the largest LNG export project ever. By 2026, the country will once again become the world's largest supplier of liquefied natural gas by overtaking Australia. The signing of the contract was delayed for a year due to economic uncertainty as a direct consequence of the Covid-19 pandemic. With the mega-expansion, the market could be oversupplied for years and the feasibility of other projects that are awaiting their investment decision could be in jeopardy.

read more... 23/02/2021

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Russia, Saudi Arabia Vow Continued Coordination In Oil Policy

Saudi Arabia and Russia would like to continue their coordination to support oil market stability, the leaders of the two most influential members of the OPEC+ production pact said during a telephone conversation this week.

read more... 18/02/2021

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