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Daily: Crude oil tumbles on U.S stockpiles build, increased output from Libya
Crude oil futures tumbled on Wednesday after Libya said it will increase production over the next few months and after the release of a report showing an unexpected build in U.S. crude stockpiles last week. Brent futures for February delivery eased 89 cents, or 1.6 percent, to close at $54.46 a barrel, while U.S. West Texas Intermediate crude for February declined 81 cents, or 1.5 percent, to end at $52.49 per barrel.
read more... 22/12/2016
Daily: Oil prices up, but below session highs on Libya’s pipeline restarts
Crude oil prices boosted on Tuesday but closed below session highs after Libya unveiled the restarts of pipelines after a two-year blockade that ended earlier this month. Benchmark Brent crude for February delivery rose by 43 cents, or 0.8 percent, to settle at $55.35 a barrel after touching an intraday high of $55.92. U.S. crude futures a gained 1.46 percent to $52.88 a barrel. Libya expects to add 270,000 barrels a day in state production in the next three months.
read more... 21/12/2016
Daily: Oil prices near flat in calm trade ahead of Christmas
Crude oil prices did not change significantly on Monday in quite traded ahead of Christmas as the market waited to observe whether U.S. shale gas production would increase enough to offset projected output cuts by OPEC, Russia and other producers in 2017. Brent futures for February delivery fell 29 cents or 0.5 percent, to settle at $54.92 a barrel, while U.S. West Texas Intermediate crude for January gained 22 cents, or 0.4 percent, to close at $52.12 per barrel.
read more... 20/12/2016
Daily: Crude oil prices rebound as Goldman Sachs hikes oil forecast for 2017
Crude oil prices edged higher on Friday, hitting nearly a 17-month high after Goldman Sachs increased its forecast for 2017 and producers showed signs of joining to a global deal to slash output. Brent futures rose by $1.19, or 2.2 percent, to settle at $55.21 a barrel, while U.S. West Texas Intermediate crude advanced $1, or 2 percent, to close at $51.90 per barrel. The premium of the Brent front-month over the same U.S. contract closed at $2.26 a barrel, its highest since the end of August.
read more... 19/12/2016
Daily: European spot electricity prices diverge, with German contract up amid lower winds forecasts
Crude oil prices ended little changed on Thursday after hesitating the whole session between the negative influence of a strengthening dollar and the persistent speculation of a consequent decrease of the supply following the OPEC’s agreements. Brent futures for February delivery rose by 12 cents, or 0.2 percent, to settle at $54.02 per barrel, while U.S. crude lost 14 cents, or 0.3 percent, to settle at $50.90, its lowest level in a week.
read more... 16/12/2016