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Daily: Crude oil losses enthusiasm after three days of hikes
Crude oil hike run out of the steam on Thursday after three consecutive days of gains as a record high of U.S. inventories countered OPEC plans for an output freeze. WTI crude futures closed slightly lower and Brent rose after figures from market intelligence provider Genscape showed stockpiles at the Cushing, Oklahoma delivery hub boosted 1.1 million barrels to 68.7 million during the week to March 1. Brent futures increased 14 cents to close at $37.07 a barrel, after hiking earlier to $37.37. Brent has rebounded nearly $2 since Friday's settlement. U.S. crude futures eased 9 cents to end at $34.57.
read more... 04/03/2016
Statoil and ExxonMobil obtain oil licenses in Ireland
Oil titans Statoil and ExxonMobil have obtained six offshore licenses in Ireland.
read more... 04/03/2016
Daily: Crude oil prices close up for third consecutive day on OPEC producers meeting
Crude oil prices closed up for a third straight day in row on Wednesday as buyers neglected a record high in U.S. crude inventories to focus on an OPEC plan to freeze output. Brent futures rose 12 cents to close at $36.93 a barrel. They have climbed more than $1.80, or 5 percent, since Friday's settlement. U.S. crude's West Texas Intermediate (WTI) futures edged 26 cents higher at $34.66 a barrel. Only in mid-February, WTI plunged to a 2003 low of $26.05.
read more... 03/03/2016
Daily: European prompt power prices dragged down by stronger renewables output
Crude oil prices rose as much as 2 percent on Tuesday, before slashing most of their gains in post-settlement trade after figures indicating a considerable increase in U.S. crude inventories already at record high levels. Brent, the global benchmark for crude, increased by 4 cents at $36.61, after trading in the negative earlier. It had climbed 24 cents, or 0.6 percent, to settle at $36.81. WTI crude edged 14 cents up, or 0.4 percent, at $33.89 a barrel by 5:17 p.m. EST (2217 GMT). It had closed up 65 cents, or 2 percent, at $34.40 a barrel.
read more... 02/03/2016
Petrobras secures a $10 billion loan from China
Brazil’s state-controlled oil producer Petroleo Brasileiro (Petrobras) has secured a $10 billion loan from China Development Bank Corp to help pay most of its 2016 debt.
read more... 01/03/2016