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Daily: Crude oil rebounds as cold spell spurs fuel demand
Crude oil prices rebounded on Friday, as cold weather across in the United States and Europe spurred energy demand. Brent crude oil, which declined in recent weeks on concerns about supply glut, ended 10 percent higher and above $32 a barrel in one of the biggest daily increases ever. Brent crude boosted 10 percent to close at $32.18, well above this week's low of $27.10, while WTI crude climbed 9 percent to settle at $32.19.
read more... 25/01/2016
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
Daily: Brent crude recovers from 12-years lows on record Chinese demand
Brent crude recovered on Tuesday from 12-years lows after figures indicated record demand in China, but the fears about oil oversupply put a lid on global gains and sent WTI crude down to its weakest level since 2003. Brent rose 0.7 percent or 21 cents to settle at $28.76 a barrel. It traded as high as $30.24, rebounding from $27.67 on Monday, its lowest level since November 2003. U.S. crude closed at $28.46 a barrel, down 96 cents or 3.26 pct, at its weakest point since September 2003.
read more... 20/01/2016
Daily: Brent near to 12-year low as market struggles with sluggish demand
Brent crude lost 2% on Wednesday after slipping below $30 a barrel for the first time since April 2004 as increasing inventories of oil in the United States intensified worries about demand. Brent shed to a fresh 12-year low at $29.96 a barrel before settling at $30.31 a barrel, down 55 cents or 1.8 percent. WTI crude closed at $30.48, up 4 cents or 0.1 percent after declining as low as $30.10. On Tuesday, it plunged as low as $29.93, the lowest level since December 2003.
read more... 14/01/2016
Daily: Oil prices trade below psychological threshold of $30 a barrel for first time since 12 years
Crude oil prices lost 3 % on Tuesday, posting a seventh straight daily decline for oil. Oil prices shed briefly below $30-per-barrel level, which is both a psychological and financial threshold and prolonging a selloff that has trimmed prices by almost 20% this year. Benchmark Brent crude slipped 69 cents to settle at $30.86, after bottoming at $30.34. U.S. WTI dropped 97 cents to close at $30.44 a barrel, a 3.1% loss, after hitting a low of $29.93, which was last recorded in December 2003. The decline was prompted by intensifying concerns about sluggish demand in China and the lack of output restraint.
read more... 13/01/2016