Latest news
Daily: Crude oil ends higher after ninth weekly U.S. crude drawdown
Crude oil prices boosted as much as 1 percent on Wednesday, rebounding U.S. crude from two-month lows after the U.S. government unveiled a ninth consecutive week of crude stockpiles draws, attenuating a part of worries about supply glut. Brent crude's front-month contract rose 51 cents, or 1 percent, to settle at $47.17 a barrel. U.S. West Texas Intermediate (WTI) crude contract for August delivery expired as the front-month after increasing 29 cents, or 0.7 percent, to settle at $44.94 a barrel. August contract attained a two-month low of $43.69 earlier. The September contract climbed 11 cents to end at $45.56.
read more... 21/07/2016
Daily: Europe power spot prices tumble on firmer wind power supply
Crude oil prices tumbled as much 1 percent for a second consecutive day on Tuesday as an increasing dollar and a global fuel oversupply offset forecasts for weaker U.S. crude inventories. Brent crude eased 30 cents, or 0.6 percent, to close at $46.66 barrel. It lost 1.4 percent on Monday. U.S. crude West Texas Intermediate (WTI) crude declined 59 cents, or 1.3 percent, to end at $44.65. WTI fell 1.6 percent in the previous session. It posted the lowest settlement since May 9, when oil settled at $43.44. Brent's premium to WTI hit its highest level since the end of April, boosting the export potential for U.S. crude.
read more... 20/07/2016
Daily: POKEMON GO could lead to increased oil demand
Crude oil prices lost ground on Monday, down over 1 percent after increasing inventories of crude and refined fuel intensified concerns about another oversupply. An attempted coup in Turkey has only briefly supported the market. The application Pokemon GO is the potential for a substantial increase in car use which could lead to higher oil consumption to the level of hundreds of thousands of barrels a day.
read more... 19/07/2016
China’s fossil fuel consumption will drop in 2050: CNPC
China’s renewable energy consumption will raise in 2050 since country is to consume less fossil fuel, as stated in a report by China National Petroleum Corporation. China’s total energy consumption will hit its peak of 3,750 million tons of oil equivalent (mtoe) around 2035, according to the China National Petroleum Corporation’s (CNPC) latest report.
read more... 18/07/2016
Daily: Crude oil prices slightly up on improved demand perspectives
Crude oil prices boosted modestly on Friday, ending the week higher, after figures from top energy consumers the United States and China spurred the oil demand outlook. Brent crude futures rose 24 cents, or 0.5 percent, to close at $47.61. It eased as much as 1.5 percent earlier to a session low of $46.65 and boosted as high as $48.05. U.S. West Texas Intermediate (WTI) futures increased 27 cents, or 0.6 percent, to close at $45.95 a barrel. The intraday low was $45.05 and it attained a peak of $46.31 during the session.
read more... 18/07/2016