Crude oil prices hiked on Monday, but pared gains, on skepticism over Venezuela’s statements that OPEC and non-OPEC countries were close to reaching a deal to balance global output and clashes in Libya disrupted attempts to increase crude exports. Higher equity prices on Wall Street and a weaker dollar also supported oil prices. Brent crude futures rose by 18 cents, or 0.4%, to settle at $45.95 a barrel. It increased over 2 percent earlier, hitting $46.93. U.S. West Texas Intermediate (WTI) crude futures gained 27 cents, or 0.6 percent, to end at $43.30. The session peak was $44.15.
read more... 20/09/2016
Crude oil prices advanced more than 1 % on Thursday following a hike in gasoline futures which was triggered by a delayed restart of the main gasoline line at Colonial Pipeline in the United States. Brent crude futures rose by 74 cents, or 1.6 percent, to settle at $46.59 a barrel, after a session high at $47. U.S. West Texas Intermediate (WTI) crude futures advanced 33 cents, or 0.8 percent, to close at $43.91.
read more... 16/09/2016
Crude oil futures closed higher on Monday lifted by a weaker dollar and stronger U.S. equity markets which offset worries about increasing drilling activity for oil in the United States. Prices also received a boost from forecasts that U.S. shale oil production could dip for an 11th consecutive month in October. Brent crude rose 31 cents, or 0.7 percent, at $48.32 per barrel. U.S. West Texas Intermediate crude gained 41 cents, or nearly 1 percent, to settle at $46.29.
read more... 13/09/2016
Norway’s Statoil ASA has announced on Monday that it had dropped billions of dollars planned for the start-up of its giant Johan Sverdrup oil field by about 20%. In addition, the company has also raised the estimated initial output by 16% after intensifying drilling and streamlining operations.
read more... 30/08/2016
Crude oil prices posted a slight increase on Wednesday, but pressured by an unexpected drawdown in U.S. crude and gasoline inventories, offset by fears that Saudi Arabia will trigger a record output even as OPEC mulls a reduction of global glut. U.S. West Texas Intermediate crude futures ended at $46.79 a barrel, up 0.45 percent on the day or about 21 cents. Brent crude futures recovered from mid-day losses to jump 55 cents at $49.78 a barrel.
read more... 18/08/2016