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Daily: Crude oil losses ground on stronger dollar, ignoring U.S. stocks draw
Crude oil prices lost 4 percent on Friday, paring most of the previous session’s gains as the dollar rose and the U.S. crude inventories draw was seen as a glitch. Brent crude fell $1.98 to close at $48.01 a barrel after an increase of above $50 for the first time in two weeks on Thursday. WTI crude declined down $1.74 to settle at $45.88. However, for the week, Brent contract rose by 2.5 percent and WTI by 3.24 percent.
read more... 12/09/2016
Daily: Crude oil futures at highest level in two weeks aftermath a massive fall in U.S. stocks
Crude oil futures posted their highest level in at least two weeks on Thursday, after the U.S. EIA revealed the largest withdrawal in crude supplies since 1999. Oil prices also were lifted from Chinese data that indicated another big increase in the country’s crude imports. Brent crude for November delivery rose $2.01, or 4.2%, to settle at $49.99 a barrel on London’s ICE Futures exchange. West Texas Intermediate crude for October delivery gained $2.12, or 4.7%, to close at $47.62 a barrel on the New York Mercantile Exchange. The settlement for WTI was the highest since August 26 and highest for Brent since August 19.
read more... 09/09/2016
Daily: European spot electricity prices finish on a mixed note, German contract lifted by stronger consumption
Crude oil prices rebounded on Wednesday , supported by a sharp decrease of the dollar a day before, while the market was still trying to assess the chances of a deal between two of the largest oil producers to freeze oil production. U.S. WTI settled up 67 cents at $45.50 a barrel, a third consecutive session of gains, after U.S. inventory data showed the largest weekly stock draw in over three decades. Brent futures boosted 72 cents to end at $47.98 a barrel.
read more... 08/09/2016
Daily: Brent crude falls on receding hopes for imminent action to tackle a supply glut
Brent crude declined almost 1 percent on Tuesday, as hopes for a deal between two of the largest oil producers to freeze oil production vanished. On Monday, Russian and Saudi officials said they would set up a working group to monitor the oil market and come up with recommendations to promote stability in order to tackle global supply. The announcement gave a lift to oil prices. However, those gains faded by Monday afternoon as the news underwhelmed traders. On Tuesday, Brent futures for November delivery lost 37 cents, or 0.8 percent, to end at $47.26 a barrel. WTI crude did not settle on Monday due to the Labor Day holiday.
read more... 07/09/2016
Daily: Crude oil rallies at one-week high after Russia and Saudi Arabia pact
Crude oil futures hit a one-week high on Monday, after top producers Russia and Saudi Arabia signed a pact to cooperate on stabilizing the oil market and raised hopes that they would work together to tackle a global glut. Brent crude futures for November delivery rose 80 cents per barrel or 1.71 percent to settle at $47.63 a barrel. They earlier touched a session high of $49.40, a peak since August 30, ahead of the Russia-Saudi agreement. U.S. crude for October delivery gained 75 cents or 1.69 percent to end at $45.19 a barrel, after attaining a high of $46.53 a barrel earlier.
read more... 06/09/2016