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Daily: U.S. crude hits the largest monthly loss in a year pressured by oversupply concerns
Crude oil prices closed down nearly 2 percent on Thursday, attaining the lowest level since April and with U.S. crude poised to hit the largest monthly loss in a year, on intensifying worries about crude oversupply. U.S. crude's West Texas Intermediate (WTI) futures fell 78 cents, or 1.9 percent, to settle at $41.14 a barrel. WTI earlier dipped to $41.04, its weakest since April 20. Brent crude futures declined 77 cents, or 1.8 percent, to close at $42.70, after slipping earlier to $42.56, the lowest since April 18.
read more... 29/07/2016
Daily: UK gas prices hit by supply glut
Crude oil prices declined 3 percent on Wednesday, with WTI crude futures reaching three-month lows, as U.S. crude and gasoline inventories hiked on low demand during the peak summer driving season. U.S. West Texas Intermediate (WTI) crude futures fell $1, or 2.3 percent, to settle at $41.92 a barrel. WTI's session low was $41.68, the weakest level since April 20. Brent futures eased $1.40, or 3.1 percent, to close at $43.47 a barrel. Brent earlier slipped to $43.33, the lowest since May 10.
read more... 28/07/2016
Daily: WTI crude plunges to three-month after API report
Crude oil prices evolved differently on Tuesday, with U.S. crude hitting three-month low on fresh concerns of a glut, while Brent ended higher due to its better fundamentals versus U.S. crude. U.S. crude's West Texas Intermediate (WTI) futures lost 21 cents, or 0.5 percent, to end at $42.92 a barrel. It continued to decline after the release of the API data, tumbling more than 1 percent. During the session, WTI declined to as low as $42.36 earlier, its lowest level since April 20. Brent boosted 15 cents, or 0.3 percent, to settle at $44.87 a barrel, and turned negative after the API data. During the session, Brent slipped $44.14, its lowest level since May 10.
read more... 27/07/2016
Daily: French spot power prices increase on higher consumption due to hot weather
Crude oil prices declined over 2 percent on Monday, with WTI crude reaching a three-month low, on intensifying concerns that a global oversupply of oil and refined products would put pressure on markets, postponing a long-awaited rebalance in the market. U.S. crude lost $1.06 to settle at $43.13 a barrel, after hitting a three-month low of $42.97 during the session. Brent crude futures closed the session down 97 cents at $44.72 a barrel, after hitting their weakest level since May 10 at $44.55.
read more... 26/07/2016
Daily: Crude oil plunges 4 percent on the week hit by oversupply concerns
Crude oil prices ended lower on Friday, diving 4 percent on the week, reversing the fourth weekly rise as the U.S. oil rigs number increased, adding to oil oversupply worries. Brent crude dropped 51 cents, or 1.1 percent, to settle at $45.69 a barrel, after declining to $45.17, the lowest level since May 11. For the week, Brent eased 4 percent. U.S. West Texas Intermediate (WTI) crude fell 56 cents, or 1.3 percent, to close at $44.19. It lost 3.8 percent on the week.
read more... 25/07/2016