Crude prices rallied by 5% as OPEC decided to roll over the current production agreement, while Saudi Arabia extended its voluntary cut for another month. The radical change in the group’s strategy, now aiming at price appreciation instead of volumes, is predicated on the assumption that US producers will not enter the market in 2021.
The warming temperatures and soaring wind output continued to pressure the European power spot prices yesterday which fell to 48.84€/MWh on average in Germany, France,…
WTI and ICE Brent futures were slightly up from Monday’ session at 73.3 $/b. Outages in the US refining sector outpaced crude production shut-ins, following…
Join EnergyScan
Get more analysis and data with our Premium subscription