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Daily: European prompt power prices dragged down by stronger renewables output
Crude oil prices rose as much as 2 percent on Tuesday, before slashing most of their gains in post-settlement trade after figures indicating a considerable increase in U.S. crude inventories already at record high levels. Brent, the global benchmark for crude, increased by 4 cents at $36.61, after trading in the negative earlier. It had climbed 24 cents, or 0.6 percent, to settle at $36.81. WTI crude edged 14 cents up, or 0.4 percent, at $33.89 a barrel by 5:17 p.m. EST (2217 GMT). It had closed up 65 cents, or 2 percent, at $34.40 a barrel.
read more... 02/03/2016
Daily: Crude oil rebounds 3% on China measures to boost economy, decline in crude oil output
Crude oil prices rose 3 percent on Monday after China took measures to boost its slowing economy, a reduction in crude output from OPEC and the U.S., and an engagement by Saudi Arabia to curb market volatility. Brent crude's front-month contract for April delivery climbed 87 cents, or 2.5 percent, to settle at $35.97 a barrel before expiring and going off the board. Brent for May delivery increased $1.13, or 3.2 percent, to close at $36.57 a barrel. U.S. crude's front-month contract added 97 cents, or 3 percent, to stand at $33.75.
read more... 01/03/2016
Daily: European spot power prices climb on increasing consumption amid cold weather spell
Oil prices lost 4 percent on Tuesday after Saudi Oil Minister Ali Al-Naimi reiterated that the kingdom will maintain output levels as the demand would capable to absorb the crude glut. Crude oil prolonged losses after settlement when an U.S. industry trade group API said domestic crude inventories escalated more than twice than expected by analysts. Benchmark Brent crude futures fell $1.42, or 4 percent, to settle at $33.27 a barrel, while U.S. crude futures declined $1.52, or 4.6 percent, to close at $31.87 a barrel.
read more... 24/02/2016
Daily: Crude oil recovers 6% on speculations of weaker U.S. shale output, strong equity market
Crude oil prices rebounded as much as 6 percent on Monday, spurred by IEA‘s speculation that U.S. shale output could decline and a hike in equities fed worries that crude prices may dip after a 20-month collapse. Futures of Brent rose $1.68, or 5 percent, to settle at $34.69. WTI crude futures climbed $1.84, or 6 percent, to close at $31.48 a barrel, rebounding above $32 at one point.
read more... 23/02/2016
Daily: Crude oil down 4%, with Brent declining for a third consecutive week
Crude oil prices declined 4 percent on Friday, with Brent falling for a third consecutive week, as a record high in U.S. crude inventories aggravated worries that a plan to freeze output will have a low contribution in reducing massive oil supplies. A decrease in the U.S. equity market also weighed on crude. Brent crude lost $1.27, or 3.7 percent, to settle at $33.01 a barrel. U.S. crude fell $1.13, also ending 3.7 percent lower at $29.64.
read more... 22/02/2016