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Rosneft begins drilling first exploration well in Iraq
Rosneft Group’s firm began drilling the first exploration well of Iraqi Block 12, as reported by the oil producer Monday.
read more... 20/02/2017
Daily (10.01.2017): British gas prices rise on cold snap forecasts
Oil prices sank by around 4% on Monday on concerns that record Iraqi crude exports and rising U.S. production would undermine OPEC's efforts to lessen global oversupply. In Iraq, OPEC's second major producer, oil exports from the southern Basra ports hit a record high of 3.51 million barrels per day (bpd) in December, according to the oil ministry.
read more... 10/01/2017
Daily: Crude oil plunges nearly 4% on doubts aver OPEC output reduction
Crude oil prices decreased by about 4 percent on Tuesday as OPEC’s top oil exporters struggled to agree on a deal to limit production in order to increase prices, with Iran and Iraq in dispute with Saudi Arabia a day ahead of the meeting. Brent futures lost $1.86, or 3.9 percent, to close at $46.38 a barrel, while U.S. crude shed $1.85, or 3.9 percent, to end at $45.23. That was the largest daily percentage decline for Brent since September.
read more... 30/11/2016
Daily: WTI crude settle below $50 for the first time in a week as OPEC plan is expected to fail
Crude oil prices lost ground on Tuesday, with WTI ending below $50 a barrel for the first time in just a week, dragged down by the possibility that OPEC ‘s plan to slash output will fail after Iraq showed unwillingness to participate in the proposed deal. WTI crude for December delivery crude lost 56 cents, or 1.1%, to end at $49.96 a barrel on the New York Mercantile Exchange. That was the lowest settlement and first finish below $50 since October 17. Brent crude for December delivery fell 67 cents, or 1.3%, to settle at $50.79 a barrel on London’s ICE.
read more... 26/10/2016
Daily: European spot power prices increase sharply on stronger demand, weaker renewables supply
Crude oil prices settled down on Monday on news of the forthcoming restart of Britain’s Buzzard oil field and as Iraq wants to be exempted from OPEC production cuts as it needs more money to fight Islamic State militants. Brent, the international benchmark for crude, lost 32 cents, or 0.6 percent, to close at $51.46 a barrel. Its session low was $50.50. U.S. West Texas Intermediate (WTI) crude declined 33 cents, or 0.7 percent, to end at $50.52.
read more... 25/10/2016