Crude oil prices soared over 1 percent on Thursday on optimism over OPEC’s first scheduled output reduction in eight years, although oil paired gains as some analysts were skeptical that the production freeze would be enough to cope with the supply glut. Brent crude rose by 55 cents, or 1.1 percent, at $49.24 a barrel. It attained a three-week high at $49.81. U.S. West Texas Intermediate crude inched 78 cents up, or 1.7 percent, to settle at $47.83 after a one-month high at $48.32.
read more... 30/09/2016
Crude oil prices ended up 3 percent on Monday on renewed hopes that top crude exporters might make progress on a deal to limit production. The world’s major producers met in Algeria to discuss ways to prop up prices. Brent crude futures rose by $1.46, or 3.2 percent, to settle at $47.35 a barrel after fluctuating between $45.74 and $47.66. U.S. West Texas Intermediate (WTI) crude futures advanced $1.45, or 3.3 percent, to settle at $45.93 after a session high of $46.20 and low of $44.43.
read more... 27/09/2016
Crude oil prices plunged 4 percent on Friday as Saudi Arabia and its rival Iran were making little progress in achieving preliminary deal ahead of OPEC talks aimed at freezing production. The United States was on the track to increase the number of oil rigs in a quarter, move that weighed on sentiment. Another bearish factor was weaker equity prices on Wall Street. Brent crude futures lost $1.76, or 3.7 percent, to settle at $45.89 a barrel. For the week, it added 0.3 percent. U.S. West Texas Intermediate crude futures declined $1.84, or 4 percent, to close at $44.48. On the week, WTI rose 3 percent.
read more... 26/09/2016
Oil prices continued to rise on Thursday, encouraged by the previous day’s unexpected decline in U.S. inventory levels and the weakening U.S. dollar.
read more... 23/09/2016
Oil prices increased around 3 percent on Wednesday following a third unexpected weekly decline in U.S. crude stockpiles which boosted the demand outlook in the world's biggest oil consumer. The prices were encouraged as well by a weak dollar after the Federal Reserve left U.S. interest rates unchanged.
read more... 22/09/2016