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Daily: Oil losses ground, ending a three-day hike on stronger dollar
Crude oil prices declined on Friday, putting the end of a three-day hike, as a strong dollar weighted and investors earned on recent gains, but losses were curbed by disruptions in Nigeria that cut output to the lowest in over two decades and wildfires reduced production from Canada's oil sands. Brent crude futures eased 25 cents to settle at $47.83 a barrel, while U.S. crude dropped 49 cents to close at $46.21. On the week, Brent rose 5.2 percent, while U.S. crude boosted 3.4 percent.
read more... 16/05/2016
Daily: British spot gas prices edge higher on undersupplied market
Crude oil prices rose by 1 percent in a volatile trade on Thursday, with U.S. crude attaining six-month highs as investors were influenced by a forecast for weakening global supplies against signs of another stockpiles increase at the hub for U.S. crude futures. Brent crude futures edged 48 cents up at $48.08 per barrel. U.S. crude's WTI futures boosted 47 cents to close at $46.70. It rallied to a six-month high of $47.02.
read more... 13/05/2016
Daily: Brent up over 4% on first U.S. crude stockpiles drawdown since March
Crude oil prices increased on Wednesday, with Brent up more than 4 percent for a second consecutive day, after the U.S. government declared that crude stockpiles declines the first time since March, growing concerns over supply disruptions in Canada and Nigeria. Oil markets prolonged gains after the data release. Brent crude futures rose $2.08, or 4.6 percent, to settle at $47.60 per barrel. In the previous session it increased by 4.3 percent. U.S. crude's West Texas Intermediate futures boosted $1.57, or 3.5 percent, to close at $46.23.
read more... 12/05/2016
Daily: Oil prices rebound on outage, API data showing considerable U.S. crude stockpiles increase
Brent crude rose by 4 percent on Tuesday, while U.S crude increased over 2 percent, after a late buying boom driven partly by forecasts that record U.S. crude stockpiles would not surge as much as they have in recent week. Crude supply outages in Canada, Nigeria and elsewhere also spurred prices. Brent increased by $1.89, or 4.3 percent, to close at $45.52 per barrel. U.S. crude's West Texas Intermediate (WTI) futures boosted 1.22, or 2.8 percent, to settle at $44.66. WTI pared gains after API data. The American Petroleum Institute (API) said that U.S. crude inventories increased by 3.45 million barrels to record highs of 543.1 million during the week ended May 6.
read more... 11/05/2016
Daily: Crude oil loses ground as focus turns from Canada deflagration to U.S. stockpiles rally
Crude oil prices declined on Monday on expectations that U.S. crude stockpiles would rally again to record highs, neglecting declining oil production in Canada after raging wildfires. Brent settled almost 4 percent lower, with U.S. crude falling almost 3 percent. WTI's front-month contract, June, lost $1.22, or 2.8 percent, to settle at $43.44 a barrel. Brent's front-month contract for July delivery eased $1.74, or 3.8 percent, to close at $43.63.
read more... 10/05/2016