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Daily: British spot prices tumble as robust flows from Norway offset blackout at gas terminal
Oil prices declined from new four-month highs in agitating trading on Wednesday after Russian oil minister Alexander Novak stated at a closed-door briefing that a deal on an oil output freeze expected to be signed this month in Doha would not yield a positive outcome. Brent crude fell 51 cents to settle at $44.18 per barrel, while U.S. crude eased 41 cents to close at $41.76.
read more... 14/04/2016
Daily: Crude oil prices rally on agreement between Russia and Saudi Arabia to stabilize the supply
Brent crude oil prices hiked to a four-month high and energy equities increased on Tuesday, bounced by reports of an agreement between two important producers to freeze output, driving U.S. equities higher. Russia and Saudi Arabia reached consensus about an oil output freeze ahead of a producers' meeting there on April 17. Brent crude boosted 3.3 percent to settle at $44.22 a barrel and WTI U.S. crude climbed 4.5 percent to close at $42.17.
read more... 13/04/2016
India may invest $20bn in Iranian oil and petrochemicals projects to raise imports
India may invest as much as $20bn in oil, petrochemicals and fertiliser projects in Iran in order to import more crude to cover its demand.
read more... 12/04/2016
Daily: Crude oil prices post a 6 % hike on U.S. inventories draws, Keystone closure
Crude oil prices boosted more than 6 percent on Friday to post the largest weekly gain in a month as a decline in U.S. crude inventories fed hopes that a heavy global oversupply may be approaching a turning point after nearly two years. The closure of the Keystone crude pipeline to Cushing, Oklahoma spurred U.S. crude futures. Oil also received support after Russia said its crude output declined in April, ahead of a meeting of major oil-producing countries in Doha intended to freeze output. Brent crude futures rose $2.51, or 6.4 percent, to settle at $41.94 a barrel, attaining a session peak of above $42. U.S. crude futures climbed $2.46, or 6.6 percent, to end at $39.72. Earlier, it climbed to nearly $40.
read more... 11/04/2016
Iraq raises its oil output to a record level ahead of Doha meeting
Iraq increased its crude output to a record level in March, ahead of the long-awaited April 17 meeting in Qatar where OPEC members and other producers may agree to cap production to curb a global glut, according to the state-run Oil Marketing Co.
read more... 11/04/2016