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
Crude oil prices ended flat on Wednesday, erasing most of the day’s gains, losing momentum, after U.S. government data unveiled crude stockpiles hit all-time high records despite strong refinery runs. U.S. crude futures rose 4 cents to close at $38.32 a barrel. Brent crude's front-month edged 12 cents higher to settle at $39.26, retreating from a session peak of $40.61.
read more... 31/03/2016
Crude oil prices were flat on Thursday, cutting losses after a fresh decline in U.S. oil rigs, but analysts and traders stated that there it could occur another selloff in the next week if WTI crude inventories hit record highs again. U.S. crude's front-month contract eased 33 cents to close at $39.46 a barrel, rebounding from a session low of $38.33. For the week, it added two cents, settling up for a sixth consecutive week. Brent's front-month lost 3 cents on the day to trade at $40.44 a barrel, after an earlier decline to $39.22. For the week, it tumbled 76 cents, or nearly 2 percent, its first loss in six weeks.
read more... 25/03/2016
Crude oil prices declined 4 percent on Wednesday, with WTI crude closing below the key $40 per barrel threshold after sixth consecutive week of record highs in inventories that could cut the market's two-month long hike. U.S. crude futures eased $1.66, or 4 percent, to settle at $39.79 a barrel. It was the largest one-day decline for the front-month contract in U.S. crude since February 11, when prices plunged to a 12-year low of $26.05. Brent crude futures lost $1.32, or 3.2 percent, to trade at $40.47 a barrel.
read more... 24/03/2016
Russian giant Gazprom saw a milestone production at its Arctic Prirazlomnoye field in the Pechora Sea, 60 km offshore Russia with its 10 millionth barrel of oil.
read more... 23/03/2016