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Daily: Crude oil down 4% amid OPEC reduction uncertainty
Crude oil prices tumbled nearly 4 percent on Friday, pulled out by uncertainty over whether the OPEC producers will reach an output deal after Saudi Arabia stated it will not attend talks on Monday with non-OPEC members to discuss supply reduction. Brent crude futures closed at $47.24 a barrel, down $1.76 or 3.59 percent. U.S. crude futures ended down $1.90 a barrel at $46.06, posting a 3.96 percent loss. Prices continued to decline in post-settlement trading, declining as low as $45.88 a barrel.
read more... 28/11/2016
Daily: Oil prices end flat ahead of OPEC meeting
Crude oil prices posted minor changes on Thursday ahead of next week’s meeting of OPEC to debate implementation of its proposed output reduction. Brent crude futures rose by 5 cents to settle at $49.00 a barrel. U.S. West Texas Intermediate (WTI) crude advanced 2 cents at $47.98 at 1928 GMT, but activity was thin after the U.S. Thanksgiving holiday and as many traders are reluctant to take big new positions ahead of a scheduled OPEC meeting next week.
read more... 25/11/2016
Daily: British gas prices rebound due to an unplanned outage
Oil prices declined slightly on Wednesday as investors doubted that OPEC will agree to an output reduction large enough to curb significantly the global glut of oil as U.S. drilling increases. Oil prices oscillated thorough the day, opening lower in the morning and later shortly turning positive after the EIA said U.S. crude inventories unexpectedly declined 1.3 million barrels last week after three consecutive weeks of rises. Brent crude futures lost 17 cents, or 0.35 percent to settle at $48.95 a barrel. The U.S. WTI crude oil futures fell 7 cents, or 0.2 percent, to end at $47.96 a barrel.
read more... 24/11/2016
Daily: Crude oil closes near flat as OPEC is likely to keep the market guessing to the last minute
Crude oil prices were flat on Tuesday in volatile trade after a report stating that OPEC officials will wait until November 30 to debate a proposal to cut member output. Brent futures rose by 22 cents, or 0.45 percent, to settle at $49.12 a barrel, its highest close since the end of October, while WTI lost 21 cents, or 0.44 percent, to end at $48.03.
read more... 23/11/2016
Daily: Crude oil prices hit the highest level in three-weeks ahead of OPEC meeting
Crude oil prices soared 4 percent to hit a three-week high on Monday, spurred by growing hopes that major oil producing countries would agree next to curb output. Brent crude futures closed at $48.90 a barrel, up $2.04, or 4.4 percent, after having briefly touched $49 a barrel during the session. U.S. West Texas Intermediate (WTI) rose 4 percent to end at $47.49 a barrel, up $1.80, after hiking as high as $47.80.
read more... 22/11/2016