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Daily: Crude oil plunges 4 percent on the week hit by oversupply concerns
Crude oil prices ended lower on Friday, diving 4 percent on the week, reversing the fourth weekly rise as the U.S. oil rigs number increased, adding to oil oversupply worries. Brent crude dropped 51 cents, or 1.1 percent, to settle at $45.69 a barrel, after declining to $45.17, the lowest level since May 11. For the week, Brent eased 4 percent. U.S. West Texas Intermediate (WTI) crude fell 56 cents, or 1.3 percent, to close at $44.19. It lost 3.8 percent on the week.
read more... 25/07/2016
Daily: British prompt gas prices edge higher on weaker output from wind farms
Crude oil prices tumbled 2 percent on Thursday on U.S. government data showing growing stockpiles of gasoline and other oil products, driving total petroleum supplies in the U.S. to record highs. Brent crude lost 97 cents, or 2.1 percent, to settle at $46.20 a barrel. U.S. West Texas Intermediate (WTI) crude closed down $1, or 2.2 percent, to arrive at $44.75.
read more... 22/07/2016
Daily: Crude oil ends higher after ninth weekly U.S. crude drawdown
Crude oil prices boosted as much as 1 percent on Wednesday, rebounding U.S. crude from two-month lows after the U.S. government unveiled a ninth consecutive week of crude stockpiles draws, attenuating a part of worries about supply glut. Brent crude's front-month contract rose 51 cents, or 1 percent, to settle at $47.17 a barrel. U.S. West Texas Intermediate (WTI) crude contract for August delivery expired as the front-month after increasing 29 cents, or 0.7 percent, to settle at $44.94 a barrel. August contract attained a two-month low of $43.69 earlier. The September contract climbed 11 cents to end at $45.56.
read more... 21/07/2016
Daily: Europe power spot prices tumble on firmer wind power supply
Crude oil prices tumbled as much 1 percent for a second consecutive day on Tuesday as an increasing dollar and a global fuel oversupply offset forecasts for weaker U.S. crude inventories. Brent crude eased 30 cents, or 0.6 percent, to close at $46.66 barrel. It lost 1.4 percent on Monday. U.S. crude West Texas Intermediate (WTI) crude declined 59 cents, or 1.3 percent, to end at $44.65. WTI fell 1.6 percent in the previous session. It posted the lowest settlement since May 9, when oil settled at $43.44. Brent's premium to WTI hit its highest level since the end of April, boosting the export potential for U.S. crude.
read more... 20/07/2016
Daily: POKEMON GO could lead to increased oil demand
Crude oil prices lost ground on Monday, down over 1 percent after increasing inventories of crude and refined fuel intensified concerns about another oversupply. An attempted coup in Turkey has only briefly supported the market. The application Pokemon GO is the potential for a substantial increase in car use which could lead to higher oil consumption to the level of hundreds of thousands of barrels a day.
read more... 19/07/2016