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Daily: Crude oil rallies on hopes of Russia, OPEC cooperation
Crude oil futures rallied on Wednesday after a declaration from Russia’s energy ministry that there is a possibility of cooperation with OPEC, raising hopes for a deal to slash a global oversupply. Brent crude increased $1.30, or 4.1 percent, to close at $33.10 a barrel, after hitting a session high of $33.49. WTI crude climbed 85 cents to settle at $32.30 per barrel, up 2.7 percent, having peaked at $32.84.
read more... 28/01/2016
Daily: Crude oil soars on hopes for output cuts to slash oversupply
Crude oil prices hiked on Tuesday, increasing over 4 percent as investors were optimistic that expected output cuts could eventually reduce one of the largest global oversupplies in decades. Crude climbed after OPEC urged rival producers to cut supply alongside its members. Brent crude rose $1.30, or 4.26 percent, to settle at $31.80 a barrel, recovering from a decline at the start of the session to pick at $32.72. U.S. crude climbed 3.7 percent, or $1.11, to close at $31.45 a barrel. During the session it increased as high as $32.41.
read more... 27/01/2016
Daily: European prompt power prices tumble as cold spell ends
WTI crude oil prices retreated 6% on Monday, falling below the key $30-a- barrel threshold in post-settlement trade, after news that Iraq’s production hit a record last month, intensifying again the worries about supply glut. U.S. crude fell $1.85 or 5.8% to settle at $30.34 a barrel. Brent crude, the global benchmark, eased $1.68 at $30.50 a barrel, 5.2% below its settlement price on Friday. It attained $30 after Monday's close.
read more... 26/01/2016
Daily: Crude oil rebounds as cold spell spurs fuel demand
Crude oil prices rebounded on Friday, as cold weather across in the United States and Europe spurred energy demand. Brent crude oil, which declined in recent weeks on concerns about supply glut, ended 10 percent higher and above $32 a barrel in one of the biggest daily increases ever. Brent crude boosted 10 percent to close at $32.18, well above this week's low of $27.10, while WTI crude climbed 9 percent to settle at $32.19.
read more... 25/01/2016
Daily: Crude oil rebounds from 12-year lows on equities hike, short covering
Crude oil prices rebounded over $1 a barrel from 12-year lows on Thursday, posting their largest gain this year, as firmer financial markets gave traders reason to take profits on record short positions. Benchmark Brent futures for March delivery rose by $1.37 to settle at $29.25 a barrel, a 4.9 percent gain. U.S. crude climbed $1.18 or 4.2 percent to close at $29.53 per barrel. Brent boosted as much as 7 percent during the session to $29.84, while WTI increased as much as 6.7 percent to hit $30.25.
read more... 22/01/2016