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Daily: U.S. WTI crude hits the highest level in seven months at $48.31/bbl
Crude oil prices rebounded for a second consecutive day on Tuesday, with U.S. futures attaining seven-month, on expectations of a decline in U.S. crude inventories and a new wildfire risk on Canadian oil supplies. U.S. WTI crude jumped 59 cents, or 1 percent, to end at $48.31 a barrel. The session high was $48.42 while the post-settlement peak was $48.76. Brent crude rose by 31 cents to settle at $49.28, reaching a six-month high of $49.58. In after-hours trade, it hit $49.75.
read more... 18/05/2016
Daily: Crude oil rockets at six-month highs on supply disruptions, Goldman forecast
Crude oil prices attained six-month highs on Monday on concerns about global supply disruptions and after Goldman Sachs said the market had ended almost two years of oversupply and flipped to a deficit, although an inventory increase at the U.S. storage hub for crude futures curbed gains. Brent crude futures rose $1.14, or 2.4 percent, to settle at $48.97 per barrel. It hiked to $49.47 earlier, its highest level since early November, in a trade towards $50. U.S. crude's West Texas Intermediate (WTI) futures boosted $1.51, or 3.3 percent, to close at $47.72 after reaching a six-month high at $47.85.
read more... 17/05/2016
Daily: Oil losses ground, ending a three-day hike on stronger dollar
Crude oil prices declined on Friday, putting the end of a three-day hike, as a strong dollar weighted and investors earned on recent gains, but losses were curbed by disruptions in Nigeria that cut output to the lowest in over two decades and wildfires reduced production from Canada's oil sands. Brent crude futures eased 25 cents to settle at $47.83 a barrel, while U.S. crude dropped 49 cents to close at $46.21. On the week, Brent rose 5.2 percent, while U.S. crude boosted 3.4 percent.
read more... 16/05/2016
Daily: British spot gas prices edge higher on undersupplied market
Crude oil prices rose by 1 percent in a volatile trade on Thursday, with U.S. crude attaining six-month highs as investors were influenced by a forecast for weakening global supplies against signs of another stockpiles increase at the hub for U.S. crude futures. Brent crude futures edged 48 cents up at $48.08 per barrel. U.S. crude's WTI futures boosted 47 cents to close at $46.70. It rallied to a six-month high of $47.02.
read more... 13/05/2016
Daily: Brent up over 4% on first U.S. crude stockpiles drawdown since March
Crude oil prices increased on Wednesday, with Brent up more than 4 percent for a second consecutive day, after the U.S. government declared that crude stockpiles declines the first time since March, growing concerns over supply disruptions in Canada and Nigeria. Oil markets prolonged gains after the data release. Brent crude futures rose $2.08, or 4.6 percent, to settle at $47.60 per barrel. In the previous session it increased by 4.3 percent. U.S. crude's West Texas Intermediate futures boosted $1.57, or 3.5 percent, to close at $46.23.
read more... 12/05/2016