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Daily: European spot electricity prices ease on robust renewable production in Germany and France
Crude oil prices declined for a second consecutive day on Friday as some investors took profit on a hike to seven-month highs while others concerned about robust production with market hovering close to $50 a barrel. Brent crude eased 27 cents, or 0.5 percent, to settle at $49.32 a barrel. It climbed to $50.51 in the previous session, its highest level since early November. U.S. crude shed 15 cents, or 0.3 percent, to close at $49.33. It reached an October high of $50.21 on Thursday. On the week, Brent posted a 1 percent increase and U.S. crude about 3 percent, spurred by gains from earlier this week.
read more... 30/05/2016
Daily: Crude oil price curb gains after hitting $50 a barrel on oversupply worries
Crude oil prices touched $50 a barrel on Thursday for the first time in seven months, but curbed gains on the day as investors worried that the hike could spur output and add to the global oversupply. Brent rallied as high as $50.51, its highest level since early November, then retreated and closed down 15 cents at $49.59 a barrel. WTI eased 8 cents to settle at $49.48, after touching $50.21, its highest level since early October.
read more... 27/05/2016
Daily: European spot power prices fell on holiday, forwards gain support from higher fuel prices
Crude oil prices boosted about 2 percent on Wednesday after the U.S. government unveiled a bigger-than-expected fall in crude stockpiles, but profit-taking after the data release kept prices below the $50 a barrel level. Brent crude rose by $1.13, or 2.3 percent, to settle at $49.74 a barrel. Prices jumped as high as $49.96 in post-settlement trading. U.S. crude's West Texas Intermediate (WTI) increased 94 cents to settle at $49.56, after hitting a seven-month high at $49.62.
read more... 26/05/2016
Daily: Crude oil approaches $50 a bbl on larger U.S. inventories draw
Crude oil jumped about 1 per cent on Tuesday on data from the American Petroleum Institute (API) showing that U.S. crude stockpiles fell 5.1 million barrels last week, two-fold the expectations of analysts. After settlement, crude prices approached $50 a barrel. The bullish oil reflects supply disruptions aftermath Canada’s wildfires. U.S. crude’s West Texas Intermediate (WTI) futures rose 54 cents, or 1.1 per cent, to settle at $48.62 a barrel. Brent crude futures climbed 26 cents, or 0.5 per cent, to close at $48.61, finishing a four-day slide.
read more... 25/05/2016
Daily: Crude oil prices tumble for fourth consecutive session after Iran stated won’t freeze output
Crude oil fell again on Monday after Iran said it has no plans to join any output freeze by other major crude producers and as the number of rigs drilling for crude in the United States remained steady after dipping for eight consecutive weeks. WTI's front-month eased 33 cents to settle at $48.08 a barrel, after plumbing a session low at $47.40. Brent's front-month lost 37 cents to close at $48.35, off the day's low of $47.58.
read more... 24/05/2016