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Daily: Brent and U.S. crude oil futures drop on increasing inventories
Brent crude oil futures declined on Wednesday on large volume of U.S. crude inventories, a stronger dollar and a forecast from IEA that oil demand is expected to ease. Meanwhile, Brent dropped by $1.13 a barrel to settle at $108.52, below its 200-day moving average of $109.37, a technical support level monitored by traders.
read more... 14/03/2013
OPEC to revise its oil demand forecast downward in 2013
Global oil demand growth could be revised slightly downward of forecasts in 2013, according to the Organization of the Petroleum Exporting Countries (OPEC), dragged down by economic uncertainty in the euro zone and United States, as well as U.S. supply will hit its highest level in three decades, slashing the need for oil from the 12-member producer group.
read more... 13/03/2013
UK’s Centrica to strike the first LNG deal with U.S.
Centrica, UK’s biggest household energy supplier envisages signing a long-term LNG import deal with U.S. companies, as UK is facing difficulties finding new natural gas supply sources to meet its increasing import demand as global price variations and new gas discoveries are favoring carrying the gas to Asia instead of Europe.
read more... 11/03/2013
Daily: UK wholesale gas prices drop, but still high as the system eases
Brent crude oil futures for April delivery boosted $1.52 per barrel to settle at $111.61 on Tuesday, breaking a five-day losing strip, mainly prompted by North Sea supply disruptions, optimism over Chinese demand growth after the country targeted 7.5 percent GDP growth this year and a significant increase in U.S. equities.
read more... 06/03/2013
Daily: Brent and U.S. crude oil futures drop on slowing growth in China
Brent crude oil futures slipped 31 cents or 0.3 percent, to settle at 110.09 a barrel on Monday, dragged down by demand worries over a factory growth slowdown in China and worsening business sentiment in Europe. Brent contract has fluctuated between $110.89 and $109.58 during the session.
read more... 05/03/2013