Latest news
French oil company Total to acquire battery manufacturer Saft
French oil firm Total intends to acquire battery maker Saft, extending its push into new energy technologies, as stated by the companies.
read more... 10/05/2016
Daily: Crude oil loses ground as focus turns from Canada deflagration to U.S. stockpiles rally
Crude oil prices declined on Monday on expectations that U.S. crude stockpiles would rally again to record highs, neglecting declining oil production in Canada after raging wildfires. Brent settled almost 4 percent lower, with U.S. crude falling almost 3 percent. WTI's front-month contract, June, lost $1.22, or 2.8 percent, to settle at $43.44 a barrel. Brent's front-month contract for July delivery eased $1.74, or 3.8 percent, to close at $43.63.
read more... 10/05/2016
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