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Daily: Brent crude recovers from 12-years lows on record Chinese demand
Brent crude recovered on Tuesday from 12-years lows after figures indicated record demand in China, but the fears about oil oversupply put a lid on global gains and sent WTI crude down to its weakest level since 2003. Brent rose 0.7 percent or 21 cents to settle at $28.76 a barrel. It traded as high as $30.24, rebounding from $27.67 on Monday, its lowest level since November 2003. U.S. crude closed at $28.46 a barrel, down 96 cents or 3.26 pct, at its weakest point since September 2003.
read more... 20/01/2016
Daily: Brent crude hits the weakest level since 2003 as Iran sanctions lifted
Oil prices plunged to the lowest level since 2003 on Monday, dragged down by prospects of Iranian oil adding to the global glut after the lifting of sanctions against Tehran over the weekend. Worries about economic slowdown in China pulled out crude oil by 20% since the beginning of the year. Brent crude for March delivery shed 1.4% to settle at $28.55 a barrel on London’s ICE Futures exchange. Earlier in the session, Brent declined as low as $27.67 a barrel, its weakest level in nearly 13 years. WTI crude for February delivery lost 1.6% to trade at $28.94 a barrel.
read more... 19/01/2016
Daily: Oil prices trade below psychological threshold of $30 a barrel for first time since 12 years
Crude oil prices lost 3 % on Tuesday, posting a seventh straight daily decline for oil. Oil prices shed briefly below $30-per-barrel level, which is both a psychological and financial threshold and prolonging a selloff that has trimmed prices by almost 20% this year. Benchmark Brent crude slipped 69 cents to settle at $30.86, after bottoming at $30.34. U.S. WTI dropped 97 cents to close at $30.44 a barrel, a 3.1% loss, after hitting a low of $29.93, which was last recorded in December 2003. The decline was prompted by intensifying concerns about sluggish demand in China and the lack of output restraint.
read more... 13/01/2016
Daily: European power forwards at fresh lows on weaker coal, carbon prices, economic slowdown in China
Crude oil prices dipped 6 % to hit new 12-year low as further reductions in the Chinese stocks market threatened to sink crude as low as $20 a barrel. Morgan Stanley warned that a further devaluation of the yuan could send oil prices spiraling into the $20-$25 per barrel range, prolonging the year's 15 percent decline. Brent crude futures eased $2.00 to close at $31.55 a barrel, their weakest since April 2004. Brent has collapsed more than 15 percent in six consecutive days of losses, the largest fall in a year. U.S. WTI crude futures shed $1.75 to settle at $31.41 a barrel, the lowest level since December 2003.
read more... 12/01/2016
Daily: European electricity curve at fresh 13-year lows since oil price drop
Oil prices increased over 2 percent on Friday, following China shares higher after Beijing neutralized a circuit breaker mechanism that was accused for aggravating equity market crashes, even though a persistent global crude surplus kept a cap on gains.
read more... 08/01/2016