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Daily: Oil price increases on Canadian wildfire outages, markets observe Saudi restructuring
Oil prices rose on Monday since a huge wildfire in Canada's oil sand region blown away over a million barrels in daily production capacity, contributing to a major tightening of markets over the past weeks. The lost capacity equals to approximately a third of the country's usual daily production.
read more... 09/05/2016
India and Iran will clear $6.4 billion oil payments through European banks
The central banks of India and Iran have apparently decided to use European Banks to clear oil payments to Tehran. They are valued at $6.4 billion (£4.4bn), according to Indian Oil Minister Dharmendra Pradhan.
read more... 09/05/2016
Daily: Crude oil prices surge after Canada’s blaze curbed production
Crude oil prices rallied on Thursday after a violent wildfire near Canada’s oil sands region slashed output to the United States. Crude oil futures rose 5 percent before paring gains. Their decrease came as the dollar increased 0.6 percent, its most in three weeks. Brent futures advanced 39 cents, or 0.9 percent, to close at $45.01 a barrel. U.S. crude's West Texas Intermediate (WTI) futures boosted 54 cents, or 1.2 percent, to close at $44.32.
read more... 06/05/2016
Shell cuts its 2016 spending as it grapples with low oil prices
Energy giant Royal Dutch Shell said it will cut its 2016 spending by another 10%, as lower oil prices continue to hit its business.
read more... 05/05/2016
Daily: European forward power prices rebound on higher fuels prices ahead of Ascension holiday
A larger-than-expected increase in U.S. crude stockpiles dragged oil markets down on Wednesday after an early hike over worries about output reductions in Canada’s oil sands region following a conflagration. U.S. crude futures close at $43.78 a barrel, up 13 cents or 0.30 percent, while Brent crude fell 35 cents or 0.78 percent, to settle at $44.62 a barrel.
read more... 05/05/2016