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Daily: UK prompt gas prices climb on colder weather, robust oil
Crude oil prices boosted 5 percent on Wednesday, their biggest increase in three weeks, after the U.S. government unveiled an unexpected draw in domestic crude inventories versus market expectations for a new record high. U.S. crude's front-month contract rose by $1.86 to settle at $37.75 a barrel. It rallied to $37.90 earlier, after slipping to $35.24 the previous day, its weakest level since March 4. The front-month contract Brent gained $1.97 to close at $39.84 a barrel. Its session peak was $39.94.
read more... 07/04/2016
Saudi Arabia to conclude a $20 billion energy deal with Egypt
Saudi Arabia is expected to ink a $20 billion five-year deal to finance Egypt's needs for oil and petroleum products, during King Salman bin Abdulaziz al-Saud’s visit to Cairo this week.
read more... 07/04/2016
Eni ready to invest on solar projects in Africa
Italian oil major Eni is prepared to invest hundreds of millions of euros in expanding solar power projects in Africa, as stated by the conglomerate's CEO on Wednesday.
read more... 07/04/2016
Daily: Oil prices rebound after Kuwait’s statements on output freeze
Crude oil prices boosted on Tuesday after Kuwait's OPEC governor Nawal Fuzaia said that the oil producers could agree to freeze the output at February levels at the April 17 Doha meeting even without Iran. The market prolonged gains in post-settlement trade after preliminary data on U.S. crude supply-demand for last week from industry group American Petroleum Institute (API) showed an unexpected draw of 4.3 million barrels. U.S. crude closed the session up 19 cents at $35.89, reaching a one-month low of $35.24 during the session. It increased to $36.58, up 88 cents, after the API data. Brent crude rose 18 cents to settle at $37.87 a barrel on the Intercontinental Exchange (ICE), after plunging to a March 4 low of $37.27 earlier. It recorded a post-settlement high of $38.44.
read more... 06/04/2016
Daily: Oil price reduces to one-month low on unpredicted U.S. demand drop
Oil dropped to a one-month low on Tuesday after a surprise decline in gasoline demand in the United States, the world's biggest oil consumer, and hesitations whether oil producers can agree a production freeze to reduce a global supply glut.
read more... 05/04/2016