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Daily: Crude oil ends at 2-week low under $36 a barrel on fresh supply glut
Crude oil prices ended under $36 a barrel on Tuesday, posting their weakest settlement in about two weeks, dragged down by worries about expanding global oversupply and downbeat economic data from China. Brent crude for February delivery on London’s ICE Futures exchange eased 80 cents, or 2.2%, to settle at $36.42 a barrel. West Texas Intermediate crude for February delivery declined by 79 cents, or 2.2%, to close at $35.97 a barrel on the New York Mercantile Exchange.
read more... 06/01/2016
Daily: European power forwards at lowest levels since 2003
Oil prices declined in volatile trading, as equities market fell sharply on fears of China's sluggish economy. Previously, crude had rose 4% on Middle East tensions. Data showing a stockpile increase at the Cushing, Oklahoma delivery hub for U.S. crude futures helped reverse crude prices. Brent eased 6 cents to close at $37.22 a barrel and U.S. West Texas Intermediate futures lost 28 cents to settle at $36.76 a barrel.
read more... 05/01/2016
Daily: Oil ends 2015 in a pessimistic mood, down 35%
Crude oil prices rebounded on Thursday, but ended in a downbeat mood, down by as much as 35% for 2015, dragged down by a race to pump by Middle East crude producers and as U.S. shale oil drillers created an unprecedented global oversupply. The United States also took a historic decision to revoke a 40-year ban on U.S. crude exports to countries outside Canada. Brent crude rose 82 cents to close at $37.28 a barrel, recovering from a near 11-year low of $36.10 reached earlier in the session. WTI increased 44 cents to settle at $37.04 a barrel.
read more... 04/01/2016
Daily: Brent crude near 11 year-low as supply glut concerns come back
Crude oil prices declined over 3% on Monday, with Brent nearing 11-year lows again as oversupply worries returned. Brent declined $1.27 to close at $36.62 a barrel, after slipping to a session low of $36.52. It hit $35.98 on Tuesday, its weakest level since 2004. WTI ended the session down $1.29 at $36.81, after an intraday low at $36.66.
read more... 29/12/2015
Daily: Crude oil prices rebound to close above $38 a bbl
Crude oil prices rebounded to settle above $38 a barrel on Thursday, with U.S. crude receiving support from declining stockpiles, pushing WTI crude to a premium to global benchmark Brent for the first time in about a year. Brent crude rose 53 cents to settle at $37.89 a barrel. It plunged to $35.98, an 11-year low, on Tuesday. U.S. crude edged 60 cents higher to close at $38.10 after gaining more than 8 percent last week.
read more... 28/12/2015