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Daily (30.12.2016): Crude oil prices tumble after a surprise build in U.S. crude stockpiles
Crude oil futures tumbled on Thursday after an unexpected increase in U.S. crude stockpiles reversed gains in prices that drove contracts to their highest levels since July last year.
read more... 30/12/2016
Daily (29.12.2016): Crude oil prices close to their highest levels since mid-2015
Crude oil prices rebounded for a fourth consecutive day on Wednesday, close to their highest levels since mid-2015, ahead of the publication of U.S. oil stockpiles figures and as the market awaits evidence of OPEC supply cuts in the new year. U.S. WTI crude oil futures rose by 16 cents to close at $54.06 a barrel, not far from the year's high of $54.51 hit on December 12. Brent crude futures gained 13 cents to close at $56.22 a barrel. The international benchmark reached $57.89 on December 12, its highest since level July 2015.
read more... 29/12/2016
Daily (28.12.2016): Oil prolongs longest run of gains since August before Opec reductions
Oil prolonged the longest winning streak in more than four months before Opec and other producing nations begin cutting production to stabilise the market.
read more... 28/12/2016
Socar and BP’s consortium to extend the development of Azeri-Chirag-Gunashli oilfields until 2050
Azerbaijan’s energy major SOCAR and BP-operated Azerbaijan International Operating Company (AIOC) signed a deal to extend the development the Azeri biggest fields by a quarter of century to 2050.
read more... 26/12/2016
Daily (26.12.2016): U.S. WTI crude hits the highest level in 17 months
Crude oil prices were little changed on Friday in a calm trade ahead of the Christmas and New Year holiday week. However, the crude oil contracts posted small gains, as the market strived to observe how OPEC manages its planned output cuts with Libya expecting to boost production. Brent futures rose by 11 cents, or 0.2 percent, to settle at $55.16 a barrel, while U.S. West Texas Intermediate (WTI) crude added seven cents, or 0.1 percent, to end at $53.02, its highest close since July 2015.
read more... 26/12/2016