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Daily: Crude oil prices rebound by 4% on production disruption concerns in Brazil, Libya

Crude oil prices rebounded by about 4 percent on Tuesday as a hike in U.S. gasoline and diesel after a disruption on a key pipeline system added further support to oil markets already buoyed by an industry strike in Brazil and force majeure for Libyan crude loadings. Brent crude edged $1.75 higher, or 3.6 percent, to settle at $50.54 a barrel, after hitting a peak of $50.91 during the session. U.S. crude boosted $1.76, or 3.8 percent, to close at $47.90. The session's peak was $48.36.

read more... 04/11/2015


Daily: Crude oil prices continue the 2-week decline amid refined oil glut lingering concerns

Crude oil prices continued to decline on Monday amid lingering concerns over a global supply glut and weakening demand dragging prices to their lowest settlement in roughly two months. Oil was also under pressure after Goldman Sachs said in a research report that oil prices could go "sharply lower" as storage tanks hit capacity, predicting the oil market would not balance itself in 2016. Brent crude fell 45 cents, or almost 1 percent, to settle at $47.54 a barrel. U.S. crude eased 62 cents, or 1.4 percent, to end at $43.98. Both crude benchmarks have declined by 10 percent over the past two weeks.

read more... 27/10/2015


Daily: Crude oil prices soar at three-month high on market oracle PIRA bullish forecast

Crude oil prices hiked to their highest level in three month on Thursday after PIRA Energy Group forecasted that oil prices would increase to $75 in 2017, adding to previous gains curbed after a rise in Chinese stockpiles and worries about Russia's military involvement in Syria. PIRA Energy Group, the oil market oracle, said it sees crude prices at $70 per barrel by the end of 2016 and $75 a barrel in 2017. Brent crude oil futures rose by $1.72 to close at $53.05 a barrel, while U.S. crude futures edged $1.62 higher to settle at $49.43 a barrel.

read more... 09/10/2015


Daily: UK spot gas rebound on lower imports from Norway, outage at gas terminal

Crude oil markets declined on Wednesday, with WTI crude futures falling 4% after optimistic impact from weaker crude inventories was compensated by a large increase in gasoline, intensifying concerns about robust autumn fuel supplies. Brent crude tumbled $1.33, or 2.7 percent, to settle at $47.75 a barrel. WTI crude shed $1.88, or 4.1 percent, to close at $44.48.

read more... 24/09/2015


Daily: Oil markets prolonged gains after biggest daily increase in 6 years

Crude oil futures increased on Friday, adding to their major one-day rally in over six years the day before, due to recovering equity markets and news of reduced crude supplies.

read more... 28/08/2015