Oil prices, which after adding more than $5 yesterday are back in negative territory today, lost their upward momentum as fears of an impending recession undercut concerns about tight supply. In particular, oil Brent September moves with losses 1.4% and trades in 104.7 dollars the barrel, having fallen by $1.44. Similarly, US WTI sees its […]
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Over 4% rally in oil after Gazprom’s ‘force majeure’
Oil prices rallied as heightened concerns over gas flows to Europe after Gazprom invoked “force majeure” and a weaker dollar offset fears of crude demand due to a looming recession and lockdown in China. In particular, the September delivery contract of Brent performs a jump 4.77% and trades in 106 dollars the barrel having added […]
The ‘uphill’ is pulled again by natural gas, due to… heat
Natural gas prices in Europe are soaring along with a heat wave plaguing the western part of the continent, as the latter increases demand for air conditioning and pushes energy costs higher. Temperatures in parts of the UK and France could reach record highs on Monday and Tuesday, Maxar forecast. Germany generated record amounts of […]
Big fluctuations in natural gas, due to… heat
Natural gas prices in Europe soared temporarily on Monday morning above 164 euros, with a heat wave plaguing the western part of the continent as the latter increases demand for air conditioning and pushes energy costs higher, to recede. then close to 156 euros. Temperatures in parts of the UK and France could reach record […]
Oil: Picks up the week’s losses on reduced expectations from S.Arabia
Oil prices are trying to cover part of the week’s big losses, following a controlled upward trend after a report said that the US does not expect an immediate increase in production from Saudi Arabia. In particular, Brent for September delivery sees its price increase by 2% or 1.9 dollars and moves to 101.03 dollars […]
New losses brought oil into a bear market
Despite the bullish reaction in the morning, oil quickly erased its gains and finally extended the losses of yesterday’s wild sell off, as the assessment of an impending recession that could destroy demand for energy products seems to be taking hold. In particular, after the plunge of more than 8% yesterday, the American WTI for […]
Losses of 2.1% brought gold to a year low
Gold was also lower today, failing to take advantage of strong jitters in global equity markets as the rising dollar weighed on demand for the precious metal. In particular, the gold contract for August delivery ended trading at the lowest level seen within 2022 in $1,763.9 the ounce with losses 2.1% or $37.6. Silver also […]
Citi sees the possibility of oil collapsing up to $45
Oil could collapse to $65 a barrel by the end of this year, but also to $45 by the end of 2023, in the event of a recession that destroys demand, Citigroup warned. According to the Citi report, this case is based on the absence of any intervention by OPEC+ producers and a potential reduction […]
Gas continues to rise (+ 3.5%), amid Russian ‘strangulation’ of supply
Gas in Europe is on the rise again on Monday as deep cuts in Russian flows to the Old Continent slow down the filling of storage facilities, with the risk of falling below the levels needed to meet the needs of businesses and households. next winter, as reported by Bloomberg. Gas futures in the Netherlands […]
Oil: US Strategic Stocks At Low 35 Years – New Price Rally
US oil reserves rose unexpectedly instead of falling estimates last week, mainly due to a record decline in the country’s strategic reserves, although refinery inflows have been high since January 2020. In particular, according to the US authority, the EIA, in the week ended June 3, the country’s oil reserves increased by 2 million barrels […]
