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Daily: Oil drops by 2% to settle at $48.70 on Friday, the biggest weekly loss since mid-September
Oil
Oil prices reduced on Friday on uncertainties about OPEC's planned production cut. Experts of Organization of the Petroleum Exporting Countries and counterparts from non-member producers such as Russia initiated two-day negotiations on Friday on curbing output to reduce a global glut that has influenced the markets for two years.
read more... 31/10/2016
Daily: Oil prices boosted on OPEC cut commitments, draw of U.S. crude at Cushing
Oil rose on Thursday, encouraged by a reported decline in U.S. crude inventories stored at the Cushing, Oklahoma, delivery hub, and as promises from Gulf OPEC members moderated lingering uncertainties in the market about support from other producers.
read more... 28/10/2016
Daily: US crude drops by 1.6% to settle at $49.18; OPEC agreement doubt counterbalances US stockpile draw
Oil prices declined by approximately 2 percent on Wednesday on increasing doubts that OPEC will reduce output, giving back the gains they recuperated after the U.S. government announced an unexpected drawdown in crude inventories.
read more... 27/10/2016
Daily: WTI crude settle below $50 for the first time in a week as OPEC plan is expected to fail
Crude oil prices lost ground on Tuesday, with WTI ending below $50 a barrel for the first time in just a week, dragged down by the possibility that OPEC ‘s plan to slash output will fail after Iraq showed unwillingness to participate in the proposed deal. WTI crude for December delivery crude lost 56 cents, or 1.1%, to end at $49.96 a barrel on the New York Mercantile Exchange. That was the lowest settlement and first finish below $50 since October 17. Brent crude for December delivery fell 67 cents, or 1.3%, to settle at $50.79 a barrel on London’s ICE.
read more... 26/10/2016
Daily: European spot power prices increase sharply on stronger demand, weaker renewables supply
Crude oil prices settled down on Monday on news of the forthcoming restart of Britain’s Buzzard oil field and as Iraq wants to be exempted from OPEC production cuts as it needs more money to fight Islamic State militants. Brent, the international benchmark for crude, lost 32 cents, or 0.6 percent, to close at $51.46 a barrel. Its session low was $50.50. U.S. West Texas Intermediate (WTI) crude declined 33 cents, or 0.7 percent, to end at $50.52.
read more... 25/10/2016