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Daily: European spot power prices ease on supply pressure
Crude oil prices were mixed on Friday as the number of U.S. rigs drilling for oil dropped more than expected, while heating oil boosted 6 percent on a cold snap that shrunk output at three refineries. The front-month Brent rose just by penny to settle at $60.22, after plunging to a week low of $57.80 on Thursday. WTI's March futures declined 82 cents to close at $50.34 a barrel, expiring as the front-month contract.
read more... 23/02/2015
Daily: Brent crude oil hits the largest two-week gain since 1998 on falling oil rigs, violence in Libya
Crude oil jumped again on Friday, with Brent posting its largest two-week gain in 17 years, on worldwide falling count for oil drilling rigs and violence in crude oil producer Libya helped further stall a selloff that started in June. Brent rose by $1.23, or 2.2 percent, on the day to settle at $57.80 a barrel. U.S. crude increased by $1.21, or 2.4 percent, to close at $51.69.
read more... 09/02/2015
Daily: Oil prices start to surge on a record decline in U.S. oil drilling
Crude oil prices rebounded from six-year lows on Friday, rallying more than 8 percent, supported by a record weekly decline in U.S. oil drilling. The hike may raise speculation that a seven-month price plunge is over. Brent crude increased by 3.86 to settle at $52.99 a barrel, after shooting up to as high as $53.08, the highest level in more than three weeks. U.S. oil futures rose by $3.71 to close at $48.24, rebounding by nearly $3 in a final hour.
read more... 02/02/2015
Daily: Oil strikes the lowest level since April 2009 on U.S. oil rig figures
Global oil markets resumed their decline on Friday, with Brent and U.S. crude striking lows lastly seen in April 2009 and closing down for a seventh consecutive week. Brent crude broke below $49 a barrel but settled above the $50 support level after oil services firm Baker Hughes announced the sharpest drop in 24 years in the number of U.S. oil drilling rigs. Brent crude declined 85 cents to close at $50.11 a barrel, after slipping previously to $48.90. WTI crude fell 43 cents to settle at $48.36, having touched $47.16 earlier.
read more... 12/01/2015
Poland shale gas now thought to be much less promising
Poland cuts the estimate for shale gas drilling, taking a step back from its efforts to find a cheaper alternative to the natural gas imports from Moscow.
read more... 01/08/2014