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Daily: Oil settles lower as OPEC output increases
Crude oil prices tumbled on Wednesday after OPEC unveiled another monthly rally in output and prolonged losses in post-settlement trade as industry figures indicated the first increase in six weeks. The OPEC said the production boosted in September to the highest level in at least eight years. Brent crude ended down 60 cents, or 1.1%, at $51.81 a barrel. U.S. West Texas Intermediate (WTI) crude shed 61 cents, or 1.2%, to settle at $50.18.
read more... 13/10/2016
Daily: British gas prices diverge, with day-ahead up due to tight supply
Crude oil prices settled down on Tuesday, retiring from one-year highs amid uncertainty how rapidly global oil supply could be reduced in line with demand even if OPEC and Russia agreed to a steep production limitation. On Tuesday, Brent crude lost 73 cents, or 1.4%, to settle at $52.41 a barrel, retreating from a one-year high of $53.73 reached on Monday. US West Texas Intermediate (WTI) crude declined 56 cents, or 1%, to end at $50.79.
read more... 12/10/2016
Daily: Crude oil rockets at one-year high as Russia wants to join OPEC in limiting output
Crude oil prices rose as much as 3 percent on Monday, with Brent attaining a one-year high, fueled by Russian President declarations that Russia is ready to join OPEC in slashing crude output and Algeria required for similar actions from other non-OPEC producers. Brent crude rallied to its highest level since October 9, 2015, up $1.21, or 2.3 percent to close at $53.14 a barrel. U.S. West Texas Intermediate crude rocketed to its highest level since June 9 at $51.60, before paring gains to end the session at $51.35, up $1.54, or 3.1 percent.
read more... 11/10/2016
Daily: Prompt British gas prices gain ground as imports from Netherlands and Norway fell
Crude oil prices declined about 1 percent on Friday as investors took some profits after a good week in a context of persistent questions about the attitude of OPEC and Russia. Brent crude lost 58 cents, or 1.1 percent, to settle at $51.93 a barrel. U.S. West Texas Intermediate (WTI) crude declined 63 cents, or 1.3 percent, to close at $49.81.
read more... 10/10/2016
Daily: Spot electricity prices tumble on firmer renewables output
Crude oil prices ended down on Tuesday after a dollar increase offset optimism over planned OPEC output reduction before a report indicating another weekly decline in U.S. crude stocks pushed prices up toward four-month highs in the post-settlement trade. Brent crude lost 2 cents at $50.87 a barrel, after rising to $51.37 during the session, its highest level since June 10. U.S. WTI crude settled down 12 cents at $48.69, after hitting $49.13 earlier, the highest level since July 5.
read more... 05/10/2016