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Daily (19.07.2019): NBP spot slumped by 4% on Thursday, due to increased supply and weak demand

Crude oil prices continued their downward evolution on Thursday, influenced by lower U.S. equities markets. Prices were also weighed by an expected rise in the U.S. offshore oil output, as platforms have been returning to service after the Hurricane Barry passed through the Gulf of Mexico last week. Brent crude sank by 2.7% to $61.93 a barrel, while WTI futures dipped by 2.6% to $55.30 a barrel.

read more... 19/07/2019

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Daily (17.07.2019): NBP spot plunged by over 16% on Tuesday, due to ample oversupply

Crude oil prices dipped on Tuesday, after data showed that U.S. crude inventories dropped less than expected last week, as they were only slightly affected by disruptions in the wake of Hurricane Barry in the Gulf of Mexico. Prices were also influenced by the conflicting signals from Tehran and Washington about an alleged reduction of tensions over Iran’s ballistic missile program, as well as by China’s weakest economic growth in 27 years. As a result, Brent crude tumbled by 3.2% to $64.35 a barrel, while WTI futures slumped by 3.3% to $57.62 a barrel.

read more... 17/07/2019

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Daily (16.07.2019): EU carbon prices extended a fresh 11-year high on Monday, boosted by a weakening allowance supply

Crude oil prices decreased on Monday, following mixed Chinese economic data and amid anticipations of a short-term impact of the tropical storm in the Gulf of Mexico on U.S. offshore oil output. A softening in the tensions between the West and Iran added pressure on prices. Consequently, Brent crude edged down by 0.4% to $66.48 a barrel, while WTI futures lost 1.1% to settle at $59.58 a barrel.

read more... 16/07/2019

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Daily (15.07.2019): NBP spot surged by 4.7% on Friday, due to rising gas-for-power demand ahead of an expected 3-day hot spell

Crude oil prices slightly rose on Friday, after a tropical storm in the Gulf of Mexico caused disruptions in the local production, while tensions between Iran and the West continued to mount. Consequently, Brent crude traded 0.3% higher at $66.72 a barrel. However, forecasts for a global oil supply glut from the International Energy Agency and OPEC limited the gains, with WTI futures remaining almost flat at $60.21 a barrel.

read more... 15/07/2019

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GE to equip 138-MW wind park in Turkey

The renewable energy arm of General Electric Co has won a turbine supply contract for the 138-MW Saros wind project in Turkey.

read more... 11/07/2019

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