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Daily: Crude oil prices continue to fall on stockpiles hike to record
Crude oil prices plunged to fresh multiyear lows on Wednesday as U.S. commercial crude and refined-product stockpiles soared to a record. WTI crude for January delivery eased $1.83, or 4.9%, to settle $35.52 a barrel on the New York Mercantile Exchange, the lowest level since February 2009. Brent, the global benchmark, declined $1.26, or 3.3%, to close $37.19 a barrel on ICE Futures Europe, the weakest level since December 2008. Both benchmarks lost more than 30% this year.
read more... 17/12/2015
Daily: Crude oil prices rebound, ending a slide to 11-year lows
Crude oil prices recovered by about 3 percent on Tuesday, ending a decline to 11-year lows on short covering, but traders said that the increase is not likely to persist in an oversupplied market and ahead of an expected U.S. rate hike which will trigger a dollar rally. Brent crude rose 49 cents, or 1.29 percent, to settle at $38.41 a barrel. On Monday, the global oil benchmark came within 14 cents of a December 2008 low of $36.20. WTI closed at $37.35 a barrel, up 2.86 percent, or $1.04. It shed to $34.53 the previous day, hovering above its financial crisis low of $32.40.
read more... 16/12/2015
Daily: European forward power prices sink on lower spot demand due to milder weather
WTI crude rebounded by about 2 percent on Monday, recovering modestly from 11-year lows. Both global benchmark Brent and WTI crude have declined aftermath an OPEC meeting on December 4 which resulted in removed production ceiling, worsening the global crude oversupply. Brent futures for January delivery shed 1 cent to settle at $37.92 a barrel. U.S. crude increased 69 cents, or 1.94 percent, to close at $36.31.
read more... 15/12/2015
Daily: Brent crude plunges to seven-year lows amid Chinese currency decline
Brent crude oil prices dipped to seven-year lows as the Chinese’s yuan currency declined on risk aversion ahead of anticipated U.S. interest rate increase next week and concerns that the currency’s depreciation could weigh over economic growth. Brent crude registered its biggest weekly percentage drop in over a year, while U.S. crude posted its largest such decline in about a year. Brent crude lost 4.53 percent to close at $37.93 a barrel after attaining $37.36, its weakest since December 2008. U.S. crude decreased 3.10 percent to settle at $35.62 after reaching $35.32, its lowest level since February 2009.
read more... 14/12/2015
Daily: Crude oil prices end under $37 for the first time since 2009
Crude oil prices settled under $37 a barrel on Thursday for the first time since 2009 following the release of a report from OPEC’s indicating a hike in crude oil production in November to the highest monthly level in three years. On the New York Mercantile Exchange, West Texas Intermediate crude for January delivery slipped 40 cents, or 1.1%, to end at $36.76 a barrel. Brent crude for January delivery on London’s ICE Futures exchange eased 38 cents, or 1%, to hit $39.73 a barrel.
read more... 11/12/2015