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Daily: European forward power prices increase on firmer fuel markets
Crude oil prices lost ground on Monday, after comments by Saudi Energy Minister Khaled Al-Faleh that the market was heading toward balance were mitigated by weakening demand in Asia, gasoline oversupply and expectations that crude output could rise. Brent crude futures eased 25 cents to settle at $50.10 per barrel. U.S. crude futures fell 23 cents to close at $48.76 per barrel. The trading for U.S. crude was thin as markets were closed on Monday for the U.S. Independence Day holiday.
read more... 05/07/2016
Daily: Crude oil advances on pre-holiday buying, weaker dollar
Oil prices hiked on Friday and Brent crude registered its biggest weekly gain since mid May, as investor’s positioned for the start of third quarter trading, while the dollar deprecation spurred prices for most commodities. Brent crude futures rose 64 cents, or 1.3 percent, to settle at $50.35 a barrel. It declined 1 percent early in the session. U.S. crude's West Texas Intermediate (WTI) futures boosted 66 cents, or 1.4 percent, to close at $48.99.
read more... 04/07/2016
Daily: Crude oil settles lower, but hit the best quarterly gain since 2009
Crude oil prices settled lower on Thursday, a day after recording their largest single-session gain since April, but prices still at their strongest quarterly rally since mid-2009. The prices were dragged down by profit-taking and investors' reluctance due to uncertainty after the British vote in favor of leaving the European Union (EU). West Texas Intermediate (WTI) crude for August delivery fell $1.55, or 3.1%, to settle at $48.33 a barrel on the New York Mercantile Exchange. For the quarter, WTI prices gained over 26.1% to record the best quarterly percentage gain since the second quarter of 2009. Brent crude for August delivery, which expired at the settlement, declined 93 cents, or 1.8%, to settle at $49.68 a barrel. Futures prices have gained 25.5% for the quarter, with the year-to-date gain at 33.3%.
read more... 01/07/2016
Daily: Brent recovers above the psychological $50 threshold
Crude oil prices rallied 4 percent on Wednesday, with Brent ending about the psychological $50 a barrel mark, spurred by larger-than-expected drawdown in U.S. crude stockpiles. Brent crude futures rose $2.03, or 4.2 per cent, to settle at $50.61 per barrel. It attained a near one-week high of $50.74 during the session. U.S. crude's West Texas Intermediate (WTI) futures also ended up $2.03, or 4.2 per cent, at $49.88. WTI's session peak was $50.
read more... 30/06/2016
Gazprom and CNPC to collaborate on gas-fired generation in China
Russian gas giant Gazprom and Chinese state-owned oil company CNPC will work on a new partnership to build underground gas storage (UGS) and gas-fired power generation facilities in three Chinese locations.
read more... 29/06/2016