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Daily (04.06.2020) NBP spot soared by 13.6% on Wednesday as low wind output boosted gas-for-power demand

Crude oil prices stretched gains on Wednesday, on a potential new agreement between OPEC and its allies to cut crude supplies. Nevertheless, a weekly increase in U.S crude inventories supported the bullish trend. As a result, Brent crude increased by 0.6% to $39.79 a barrel. Similarly, WTI futures traded 1.3% higher at $37.29 a barrel.

read more... 04/06/2020

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Daily (29.05.2020): UK gas prices plunged to historical lows due to oversupply and weak demand

Crude oil futures turned higher on Thursday, shrugging off an unexpected rise in U.S. crude stockpiles as traders focused on falling gasoline stocks and a further decline in crude stored at the New York Mercantile Exchange’s delivery hub in Cushing, Oklahoma. Moreover, expectations for further oil outputs cuts by Russia starting from July added to the upbeat sentiment.

read more... 29/05/2020

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Daily (28.05.2020): After previous gains, energy markets turned bearish again on Wednesday

Oil prices turned bearish on Wednesday as tensions between China and the United States intensified, following the statements of the American president about a firm response to China’s proposed security law in Hong Kong. Moreover, some traders treated with suspicion Russia’s commitment to deep production cuts.

read more... 28/05/2020

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Daily (27.05.2020): Energy prices recovered on Tuesday on strong optimism for a recovery in demand

Oil prices continued the bullish evolution due to a possible extension of current oil production cuts beyond June after OPEC+ countries will meet at the beginning of next month.

read more... 27/05/2020

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UK’s power system emissions hit all-time low and wholesale power prices go negative

The two records were set over the weekend as renewable energy generation soared, coinciding with continued low demand due to the ongoing coronavirus lockdown.

read more... 27/05/2020

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