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Daily: German power prices edge higher on slight decline in wind power, expected cold snap
Crude oil prices plunged to near three-month lows before ending higher on Wednesday, dragged down by worries about supply glut and WTI crude futures declined to below $40 a barrel as investors covered short positions in late trading, supporting oil prices. U.S. crude's WTI futures rose by 8 cents to settle at $40.75 a barrel, after hitting a session low at $39.91. The last time WTI traded below $40 was on August 27. Brent crude edged 57 cents higher, or 1.3 percent, to end at $44.14, helped by a relatively bullish outlook for the global crude benchmark versus WTI.
read more... 19/11/2015
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 fell around 4%, close to the six-year low on persistent oversupply
Crude oil prices fell almost 4% on Thursday, dragged down by a persisted supply glut and an increase in U.S. inventories and by a pessimistic forecast for next year. Brent crude declined below $45 a barrel for the first time since August, its sixth decrease of a seven-day losing streak of more than $6 a barrel, or 12 percent. Brent futures lost $1.75, or 3.8 percent, to settle at $44.06 a barrel. WTI crude plunged $1.18, or 2.8 percent, to close at $41.75. It posted a record low in August at $37.75.
read more... 13/11/2015
Daily: Crude oil plunges to the lowest level since 27 August on supply jitters
Crude oil prices reversed gains from the previous day, plunging about 3 percent on Wednesday, touching August lows, sparking new worries about growing U.S. crude stockpiles and supplies from Iraq. Brent crude declined $1.63, or 3.4 percent, to settle at $45.81 a barrel, posting a session low of $45.62, the lowest since August 27. U.S. West Texas Intermediate contract eased $1.28, or 3 percent, to close at $42.93.
read more... 12/11/2015
Daily: European power diverge on robust wind supply in Germany, higher consumption in France
Crude oil prices declined as much as 1 percent on Monday, prolonging losses for a consecutive day, dragged down by new stockpile hike at the delivery point for U.S. crude futures and lower Wall Street share prices. On Monday, the front-month in Brent crude futures fell 23 cents, or 0.5 percent, to close at $47.19 a barrel. West Texas Intermediate (WTI) dropped 42 cents, or 1 percent, to settle at $43.87.
read more... 10/11/2015