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Doha summit resulted in a deadlock after Iran’s last-minute decision to stay home
A summit in Doha between the top oil producing countries in the world ended without an agreement on Sunday, as country leaders failed to negotiate a production freeze intended to strengthen prices.
read more... 18/04/2016
Daily: European electricity forward prices surpass 10-week highs on coal price recovery
Crude oil prices tumbled on Friday on anticipations that a weekend meeting of top oil exporters will have little impact on reducing an exacerbated glut, even if would provide a ceiling for the market. Brent crude futures eased 74 cents to close at $43.10, while U.S. crude settled down $1.14 cents at $40.36. Both contracts declined by more than 3.5 percent earlier in the day.
read more... 18/04/2016
Daily: European forward power prices rally to the highest level in 10 weeks, spurred by coal
Crude oil prices settled lower after a nervous trading on Thursday, capping losses due to a favorable report from the International Energy Agency (IEA), in a context of an omnipresent speculation after a Sunday summit in Doha between producing countries. Brent crude futures eased 34 cents to settle at $43.84 a barrel, while U.S. crude closed the session down 26 cents at $41.50.
read more... 15/04/2016
Daily: British spot prices tumble as robust flows from Norway offset blackout at gas terminal
Oil prices declined from new four-month highs in agitating trading on Wednesday after Russian oil minister Alexander Novak stated at a closed-door briefing that a deal on an oil output freeze expected to be signed this month in Doha would not yield a positive outcome. Brent crude fell 51 cents to settle at $44.18 per barrel, while U.S. crude eased 41 cents to close at $41.76.
read more... 14/04/2016
Daily: Crude oil prices rally on agreement between Russia and Saudi Arabia to stabilize the supply
Brent crude oil prices hiked to a four-month high and energy equities increased on Tuesday, bounced by reports of an agreement between two important producers to freeze output, driving U.S. equities higher. Russia and Saudi Arabia reached consensus about an oil output freeze ahead of a producers' meeting there on April 17. Brent crude boosted 3.3 percent to settle at $44.22 a barrel and WTI U.S. crude climbed 4.5 percent to close at $42.17.
read more... 13/04/2016