Crude oil prices settled down on Wednesday and continued to decline in the post-settlement trade on worries about an intensifying oversupply kept crude under pressure this week, compensating recent views that falling U.S. production would spur prices. WTI crude shed 2 cents to close at $46.64. Global crude benchmark Brent eased 9 cents to close at $49.15 then declined 46 cents in post-settlement trade.
read more... 15/10/2015
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
Egypt's state gas board EGAS declared on Monday it is to acquire 55 cargoes of liquefied natural gas (LNG), 10 more than initially scheduled, through a tender it has awarded to seven firms which will supply the fuel from the beginning of November.
read more... 13/10/2015
Crude oil prices declined on Monday, falling 5 % as traders took profits after last week’s hike to an 11-week high and report that OPEC kept on to increase production despite a continuous oversupply. Both Brent and U.S. crude futures recorded the largest percentage losses since the start of September with the North Sea crude slipping $2.79 at $49.86 and West Texas Intermediate declining $2.53 at $47.10. OPEC slashed its estimate of 2016 world oil demand growth by 40,000 bpd to 1.25 million bpd amid sluggish growth in China.
read more... 13/10/2015
Crude oil prices declined in volatile trading on Wednesday, breaking a three-day increase, after U.S. government figures indicating a massive crude stockpile increase surprised traders the day after an industry group had reported a decline. Brent, the global crude benchmark, fell 59 cents, or 1.1 percent, to settle at $51.33 a barrel. The West Texas Intermediate (WTI) shed 72 cents, or 1.5 percent, to close at $47.81.
read more... 08/10/2015