Latest news
Record level of oil stockpiles at 3 billion barrels
Oil stockpiles have rocketed to a record level this year at around 3 billion barrels— the equivalent to more than a month’s supply of global oil consumption amid a robust production in OPEC and elsewhere, according to the International Energy Agency (IEA).
read more... 16/11/2015
Daily: Crude oil prices recover after a four-day losing streak
Crude oil prices rebounded on Tuesday, breaking a four-day losing streak in a market struggling to draw conclusions from contrasting monthly reports by the International Energy Agency (IEA) and the US Department of Energy (DoE). WTI crude prices for December delivery gained 34 cents to settle at 44.21 dollars a barrel on the New York Mercantile Exchange, while Brent crude rose 25 cents to end at 47.44 dollars on the London ICE Futures Exchange.
read more... 11/11/2015
Daily: Crude oil prices reverse early gains on IEA oversupply concerns
Crude oil prices reversed earlier gains and settled lower on Tuesday after the International Energy Agency (IEA) renewed fears that the market remains oversupplied. U.S. crude closed at $46.66 per barrel, down 0.93 percent, or 44 cents, slashing previous gains over a dollar on technical trades. Brent futures for November delivery settled at $49.24 per barrel, falling 1.24 percent, or 62 cents. Brent futures were above $50 in earlier trading.
read more... 14/10/2015
IEA: Crude oil prices set to continue the slowdown trend
Crude oil prices will continue to decline due to a massive supply glut, according to the International Energy Agency (IEA).
read more... 13/07/2015
Daily: Crude oil prices fell 9% on the week
Global oil prices plunged on Friday and declined 9% on the week, touched by a renewed hike in the dollar and a warning by the International Energy Agency (IEA) that the oil oversupply is growing. Benchmark Brent oil closed at near a one-month low below $55 a barrel and US crude settled near a 2-1/2 month low under $45. Brent closed at $54.67, declining $2.41, or 4.2%, on the day. WTI crude ended at $44.84, down $2.21, or 4.7%.
read more... 16/03/2015