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Iran to strike its first post-sanction oil supply deal with Greece
The National Iranian Oil Company of Iran inked a deal to supply oil to Greece’s main oil refiner, Hellenic Petroleum, following removal of sanctions.
read more... 25/01/2016
Statoil in negotiations to supply LNG to Lithuania's Achema
Statoil is in the final stages of negotiations to supply liquefied natural gas (LNG) to Lithuanian fertiliser producer Achema, the Baltic state's largest gas consumer, as declared by the Norwegian oil and gas firm on Wednesday.
read more... 22/01/2016
Daily: Crude oil rebounds from 12-year lows on equities hike, short covering
Crude oil prices rebounded over $1 a barrel from 12-year lows on Thursday, posting their largest gain this year, as firmer financial markets gave traders reason to take profits on record short positions. Benchmark Brent futures for March delivery rose by $1.37 to settle at $29.25 a barrel, a 4.9 percent gain. U.S. crude climbed $1.18 or 4.2 percent to close at $29.53 per barrel. Brent boosted as much as 7 percent during the session to $29.84, while WTI increased as much as 6.7 percent to hit $30.25.
read more... 22/01/2016
Daily: European forward power prices at record lows as oversupply worries crippled oil prices
U.S. crude oil prices plummeted below $27 dollars a barrel on Wednesday for the first time since 2003, dragged down by a wide decline across financial markets, with traders being concerned that the supply glut could persist for longtime. WTI crude for February delivery, which expired at the end of the day, shed $1.91, or 6.7 percent to settle at $26.55. New front-month March futures dropped nearly 4 percent on the day to close at $28.35 a barrel. Brent futures for March delivery lost 88 cents to close at $27.88 a barrel, a 2.7 percent decline after retiring from a new contract low of $27.10.
read more... 21/01/2016
China’s oil consumption hiked 2.5% in 2015 despite economic slowdown
China’s oil consumption bounced 2.5% in 2015 on strong gasoline and kerosene demand, despite a slowing economy and declining demand for other commodities such as coal and steel.
read more... 20/01/2016