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Daily: Oil prices rebound on outage, API data showing considerable U.S. crude stockpiles increase
Brent crude rose by 4 percent on Tuesday, while U.S crude increased over 2 percent, after a late buying boom driven partly by forecasts that record U.S. crude stockpiles would not surge as much as they have in recent week. Crude supply outages in Canada, Nigeria and elsewhere also spurred prices. Brent increased by $1.89, or 4.3 percent, to close at $45.52 per barrel. U.S. crude's West Texas Intermediate (WTI) futures boosted 1.22, or 2.8 percent, to settle at $44.66. WTI pared gains after API data. The American Petroleum Institute (API) said that U.S. crude inventories increased by 3.45 million barrels to record highs of 543.1 million during the week ended May 6.
read more... 11/05/2016
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 losses 3 percent on OPEC production rally, record speculative buying in Brent
Crude oil prices declined about 3 percent on Monday as the output from the Organization of the Petroleum Exporting Countries approached all-time highs and record speculative buying in international benchmark Brent triggered profit-taking on last month's considerable hike. Brent crude for July delivery lost $1.54, or 3.3 percent, to settle at $45.83 per barrel, touching a session low at $45.72. WTI fell $1.14 cents, or 2.5 percent, to close at $44.78 a barrel, after attaining an intraday low at $44.54.
read more... 03/05/2016
Daily: Crude oil prices post the third week of gains on upbeat market sentiment
Crude oil prices boosted on Friday and posted their third consecutive week of gains on optimistic market sentiment and on signs that a continuing global oversupply may be alleviating. Brent futures rose by 1.3 percent to settle at $45.11 per barrel, while U.S. West Texas Intermediate crude climbed 1.3 percent at $43.73 a barrel. Both contracts increased as much as 3 percent during the session. Brent has rallied by 4.5 percent this week and U.S. crude by 8.4 percent as both benchmarks recorded a third week of gains.
read more... 25/04/2016
IRENA unveils new record for renewable energy in 2015
Renewable energy generation capacity expanded by 8.3 percent last year to 1,985 GW worldwide, the fastest annual rate ever recorded, as indicated by data from the International Renewable Energy Agency (IRENA).
read more... 14/04/2016