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Daily: U.S. crude hits the largest monthly loss in a year pressured by oversupply concerns
Crude oil prices closed down nearly 2 percent on Thursday, attaining the lowest level since April and with U.S. crude poised to hit the largest monthly loss in a year, on intensifying worries about crude oversupply. U.S. crude's West Texas Intermediate (WTI) futures fell 78 cents, or 1.9 percent, to settle at $41.14 a barrel. WTI earlier dipped to $41.04, its weakest since April 20. Brent crude futures declined 77 cents, or 1.8 percent, to close at $42.70, after slipping earlier to $42.56, the lowest since April 18.
read more... 29/07/2016
Royal Dutch Shell: Quarterly earnings plummet over 70%, challenged by low oil and gas prices
British oil major Royal Dutch Shell reported a sharp drop in its quarterly profits, down by more than 70%, below analysts’ expectations.
read more... 28/07/2016
Daily: UK gas prices hit by supply glut
Crude oil prices declined 3 percent on Wednesday, with WTI crude futures reaching three-month lows, as U.S. crude and gasoline inventories hiked on low demand during the peak summer driving season. U.S. West Texas Intermediate (WTI) crude futures fell $1, or 2.3 percent, to settle at $41.92 a barrel. WTI's session low was $41.68, the weakest level since April 20. Brent futures eased $1.40, or 3.1 percent, to close at $43.47 a barrel. Brent earlier slipped to $43.33, the lowest since May 10.
read more... 28/07/2016
Daily: WTI crude plunges to three-month after API report
Crude oil prices evolved differently on Tuesday, with U.S. crude hitting three-month low on fresh concerns of a glut, while Brent ended higher due to its better fundamentals versus U.S. crude. U.S. crude's West Texas Intermediate (WTI) futures lost 21 cents, or 0.5 percent, to end at $42.92 a barrel. It continued to decline after the release of the API data, tumbling more than 1 percent. During the session, WTI declined to as low as $42.36 earlier, its lowest level since April 20. Brent boosted 15 cents, or 0.3 percent, to settle at $44.87 a barrel, and turned negative after the API data. During the session, Brent slipped $44.14, its lowest level since May 10.
read more... 27/07/2016
Turkish gas rebate will be applied for winter season
Rebate on natural gas prices for winter season will be made even if gas price arbitration cases with Iran and Russia are not settled, the Energy Minister Berat Albayrak declared on Monday.
read more... 26/07/2016