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Daily: Crude oil price curb gains after hitting $50 a barrel on oversupply worries
Crude oil prices touched $50 a barrel on Thursday for the first time in seven months, but curbed gains on the day as investors worried that the hike could spur output and add to the global oversupply. Brent rallied as high as $50.51, its highest level since early November, then retreated and closed down 15 cents at $49.59 a barrel. WTI eased 8 cents to settle at $49.48, after touching $50.21, its highest level since early October.
read more... 27/05/2016
Daily: Crude oil prices tumble for fourth consecutive session after Iran stated won’t freeze output
Crude oil fell again on Monday after Iran said it has no plans to join any output freeze by other major crude producers and as the number of rigs drilling for crude in the United States remained steady after dipping for eight consecutive weeks. WTI's front-month eased 33 cents to settle at $48.08 a barrel, after plumbing a session low at $47.40. Brent's front-month lost 37 cents to close at $48.35, off the day's low of $47.58.
read more... 24/05/2016
Egypt's gas projects will raise output to 5.5-6 billion cfd by end-2019
Egypt will raise its natural gas output to between 5.5 and 6 billion cubic feet per day by the end of 2019, as stated by Oil Minister Tarek El Molla on Sunday, or up from the existing production of 3.9 bln cubic ft per day.
read more... 23/05/2016
Russian gas giant Gazprom to boost its output by 8% in 2016
Russia’s gas giant Gazprom will boost its output this year by 8.1% to 452.45 billion cubic meters, said Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee.
read more... 20/05/2016
Daily: Oil losses ground, ending a three-day hike on stronger dollar
Crude oil prices declined on Friday, putting the end of a three-day hike, as a strong dollar weighted and investors earned on recent gains, but losses were curbed by disruptions in Nigeria that cut output to the lowest in over two decades and wildfires reduced production from Canada's oil sands. Brent crude futures eased 25 cents to settle at $47.83 a barrel, while U.S. crude dropped 49 cents to close at $46.21. On the week, Brent rose 5.2 percent, while U.S. crude boosted 3.4 percent.
read more... 16/05/2016