Latest news
Daily: Crude oil prices hit the highest level in 2016 amid output freeze hopes
Crude oil prices soared to 2016 highs on Thursday, with WTI crude increasing 5 percent to break the $40 threshold, on optimism that top producers will reach an output freeze deal next month amid boosting crude exports and gasoline demand in the United States. On Thursday, the front-month in U.S. crude's West Texas Intermediate (WTI) futures rose $1.74, or 4.5 percent, to settle at $40.20, after attaining a 2016 high of $40.26. Brent crude's front-month increased $1.21 to close at $41.54, after earlier attaining the year's high of $41.60.
read more... 18/03/2016
Daily: U.S. crude oil soars 6% as top producers agreed to meet in Qatar
U.S. oil prices soared about 6 percent on Wednesday, slashing losses of the past two days after top producers agreed to meet in Qatar to debate an output freeze and U.S. crude inventories increased less than expected. WTI jumped $2.12, or 5.8 percent, to settle at $38.46 a barrel. It had declined 5 percent in the past two sessions. Brent crude hiked $1.59, or 4 percent, to close at $40.33 a barrel.
read more... 17/03/2016
Daily: Crude oil settles 2 percent lower on U.S. inventories concerns
Crude oil prices declined 2 percent on Tuesday as the market was pressured by concerns that U.S. crude inventories were still increasing amid decreasing output and refinery maintenance. Brent eased 79 cents to close at $38.74 a barrel, down 2 percent close to Monday’s level. U.S. crude lost 84 cents, or 2.3 percent, to settle at $36.34. In the last session, it dropped 3 percent.
read more... 16/03/2016
Daily: European prompt power prices evolve differently, with French contract up due to colder weather
Crude oil prices declined about 3 percent on Monday on worries that a six-week market rebound has gone beyond fundamentals as U.S. crude inventories continued to increase and after Iran dashed hopes in joining producers group in order to freeze output. WTI crude futures eased $1.32, or 3.4 percent, to settle at $37.18 a barrel, while Brent fell 86 cents, or 2 percent, to close at $39.53.
read more... 15/03/2016
Daily: Crude oil soars 2 % following IEA report
Crude oil boosted 2 percent on Friday, with U.S. crude increasing for a fourth consecutive week, after the Paris-based International Energy Agency stated that the market may have hit bottom. Goldman Sachs remained pessimistic, declaring that prices could decline sharply in the next weeks with record U.S. stockpiles builds offsetting production falls in the country. Brent crude rose 34 cents, or nearly 1 percent, to settle at $40.39 a barrel. On the week, it posted a hike of 4 percent, heading for a third weekly gain in a row. WTI crude increased by 85 cents, or 2 percent, to close at $38.69 a barrel, after attaining a 2016 high at $39.02. It recorded an increase 7 percent on the week, a fourth consecutive week of gains.
read more... 14/03/2016