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Daily: Oil prices tumble on Saudi Arabia, Iran dispute
Crude oil futures tumbled on Friday, posting their largest weekly percentage decline since January of about 9 percent, as old disputes between Saudi Arabia and Iran sparked at a OPEC meeting last week. Saudi Arabia stated that it could steeply increase oil output to reduce prices if Tehran refuses to curb supply. Both benchmarks closed at their lowest levels since September, with Brent losing 77 cents, or 1.7 percent, to end at $45.58 a barrel, and U.S. crude declined 59 cents, or 1.3 percent, to close at $44.07.
read more... 07/11/2016
Daily: UK gas prices gain on forecast for colder weather
Oil prices hit one-month lows on Monday after falling around 3 percent on uncertainties about OPEC's ability to implement its planned output reductions, with the market further influenced by expectations that the cartel had record production in October.
read more... 01/11/2016
Daily: Oil drops by 2% to settle at $48.70 on Friday, the biggest weekly loss since mid-September
Oil
Oil prices reduced on Friday on uncertainties about OPEC's planned production cut. Experts of Organization of the Petroleum Exporting Countries and counterparts from non-member producers such as Russia initiated two-day negotiations on Friday on curbing output to reduce a global glut that has influenced the markets for two years.
read more... 31/10/2016
Daily: US crude drops by 1.6% to settle at $49.18; OPEC agreement doubt counterbalances US stockpile draw
Oil prices declined by approximately 2 percent on Wednesday on increasing doubts that OPEC will reduce output, giving back the gains they recuperated after the U.S. government announced an unexpected drawdown in crude inventories.
read more... 27/10/2016
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