Latest news
Daily: Crude oil soars after OPEC deal to slash oil production in November
Crude oil ended up 6 percent on Wednesday after OPEC reached an agreement to curb crude output at its policy meeting in November. Brent crude rose by $2.72, or 5.9 percent, to settle at $48.69 a barrel, attaining a more than two-week high of $48.96. WTI crude boosted $2.38, or 5.3 percent, to close at $47.05 a barrel.
read more... 29/09/2016
Daily: European forward power prices at highest level in 10 weeks, spurred by firmer coal, spot power
Crude oil prices ended up 3 percent on Monday on renewed hopes that top crude exporters might make progress on a deal to limit production. The world’s major producers met in Algeria to discuss ways to prop up prices. Brent crude futures rose by $1.46, or 3.2 percent, to settle at $47.35 a barrel after fluctuating between $45.74 and $47.66. U.S. West Texas Intermediate (WTI) crude futures advanced $1.45, or 3.3 percent, to settle at $45.93 after a session high of $46.20 and low of $44.43.
read more... 27/09/2016
Daily: Crude oil dips 4 percent as no output freeze deal expected for OPEC
Crude oil prices plunged 4 percent on Friday as Saudi Arabia and its rival Iran were making little progress in achieving preliminary deal ahead of OPEC talks aimed at freezing production. The United States was on the track to increase the number of oil rigs in a quarter, move that weighed on sentiment. Another bearish factor was weaker equity prices on Wall Street. Brent crude futures lost $1.76, or 3.7 percent, to settle at $45.89 a barrel. For the week, it added 0.3 percent. U.S. West Texas Intermediate crude futures declined $1.84, or 4 percent, to close at $44.48. On the week, WTI rose 3 percent.
read more... 26/09/2016
Daily: British gas prices tumble as gas imports recover
Crude oil evolved differently on Tuesday, with WTI recovering from six-week lows on anticipated demand for crude after Colonial Pipeline Co is likely to restart its main gasoline line by Wednesday. The American Petroleum Institute reported a 7.5-million-barrel draw in U.S. crude oil supplies on Tuesday, instead of the increase that many expected. Brent crude for November delivery lost 7 cents to settle at $45.88 a barrel after the release of the API report. U.S. WTI crude for October delivery rose 14 cents to close at $43.44.
read more... 21/09/2016
Daily: Crude oil surges as Venezuela sees output deal to stabilize market
Crude oil prices hiked on Monday, but pared gains, on skepticism over Venezuela’s statements that OPEC and non-OPEC countries were close to reaching a deal to balance global output and clashes in Libya disrupted attempts to increase crude exports. Higher equity prices on Wall Street and a weaker dollar also supported oil prices. Brent crude futures rose by 18 cents, or 0.4%, to settle at $45.95 a barrel. It increased over 2 percent earlier, hitting $46.93. U.S. West Texas Intermediate (WTI) crude futures gained 27 cents, or 0.6 percent, to end at $43.30. The session peak was $44.15.
read more... 20/09/2016