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Daily: Crude oil ends down hit by oversupply fear, gasoline rally
Crude oil prices lost up to 2% on Friday to hit multi-week lows after Iran, the third-biggest OPEC producer, raised crude exports to over 2 million barrels per day (bpd) in August, intensifying fears about a global glut, while gasoline increased on refinery and pipeline outages. Bearish U.S. equity markets and rising dollar also had an impact on crude futures and other commodities denominated in the greenback. Brent crude futures declined 82 cents, or 1.8%, to settle at $45.77 a barrel, reaching a two-week low of $45.48. U.S. West Texas Intermediate crude futures fell 88 cents, or 2%, to close at $43.03 a barrel. WTI hit a five-week bottom of $42.74. For the week, Brent lost 5%, while WTI lost 6%.
read more... 19/09/2016
Daily: British gas prices surge as UK Continental Shelf output declines
Crude oil prices advanced more than 1 % on Thursday following a hike in gasoline futures which was triggered by a delayed restart of the main gasoline line at Colonial Pipeline in the United States. Brent crude futures rose by 74 cents, or 1.6 percent, to settle at $46.59 a barrel, after a session high at $47. U.S. West Texas Intermediate (WTI) crude futures advanced 33 cents, or 0.8 percent, to close at $43.91.
read more... 16/09/2016
Daily: Oil futures declines for a second straight session hit by large weekly builds in U.S. stocks
Crude oil futures ended the session at a nearly two-week low on Wednesday after data showing massive weekly builds in U.S. petroleum products counterbalanced an unexpected draw in crude stockpiles. It is the second consecutive day of declines when crude oil fell about 3 percent. WTI crude for October delivery fell by $1.32, or 2.9%, to settle at $43.58 a barrel on the New York Mercantile Exchange. Brent crude for November delivery on London’s ICE Futures exchange lost $1.25, or 2.7%, to $45.85 a barrel in a volatile trade.
read more... 15/09/2016
Daily: Crude oil dips at lowest level in a week after IEA, OPEC see oversupply persisting
Crude oil futures plunged at their lowest level in a week on Tuesday, after the International Energy Agency (IEA) and OPEC revised forecasts indicating that the global crude oversupply could persist much longer than anticipated. Brent crude lost $1.22 or 2.5 percent, to settle at $47.10 a barrel. U.S. West Texas Intermediate crude shed $1.39, or 3 percent, to close at $44.90.
read more... 14/09/2016
Daily: French spot electricity prices buoyed by higher consumption, weak nuclear output
Crude oil futures closed higher on Monday lifted by a weaker dollar and stronger U.S. equity markets which offset worries about increasing drilling activity for oil in the United States. Prices also received a boost from forecasts that U.S. shale oil production could dip for an 11th consecutive month in October. Brent crude rose 31 cents, or 0.7 percent, at $48.32 per barrel. U.S. West Texas Intermediate crude gained 41 cents, or nearly 1 percent, to settle at $46.29.
read more... 13/09/2016