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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
Daily: Crude oil climbs about 3 percent on pessimistic U.S. job data, declines for the week
Crude oil prices ended up nearly 3 percent on Friday, spurred by a weak dollar crippled by downbeat U.S. jobs report, but for the week, prices posted a sharp decrease on worries about oversupply. Brent crude futures rose by $1.38, or 3 percent, to settle at $46.83 a barrel. For the week, Brent declined 6 percent, its largest drop in five weeks. U.S. West Texas Intermediate futures gained $1.28, also 3 percent, to close at $44.44. WTI lost nearly 7 percent on the week, its largest decrease in eight weeks.
read more... 05/09/2016
Daily: British wholesale gas prices down on an oversupplied market
On Thursday, oil prices registered a decrease of more than 3 percent, their biggest decline in a week since January (almost 9 percent), as investors have put aside rumors about a possible production freeze from OPEC, and focused on an unexpected big increase of US crude inventories. Brent crude prices have settled down $1.44 at $45.45 per barrel, or 3.38 percent. U.S. crude's West Texas Intermediate (WTI) futures fell $1.54 or 3.45 percent at $43.16 a barrel.
read more... 02/09/2016
Daily: Oil prices down on unexpected increase in U.S crude and distillate stockpiles
On Wednesday crude oil prices lost around 3 percent as U.S crude and distillates stockpiles registered an unexpected big increase, with analysts predicting lower levels. After rising more than 11 percent in August oil prices are again under pressure. Brent crude settled at $47/barrel, down 2.7 percent from yesterday, meanwhile WTI crude closed the session at $44.70/barrel, down over 3.5 percent.
read more... 01/09/2016
Daily: British gas prices down on strong domestic supply
Oil prices declined on Tuesday, with Brent decreasing about 2 percent following the dollar's recovery and worries over an oversupplied market situation amid forecast for higher U.S crude stockpiles. According to the latest statements, Iran is close to reach peak production. Brent crude futures decreased to $48.37 per barrel, down by 89 cents, or 1.8 percent, while U.S. West Texas Intermediate (WTI) crude futures settled at $46.35, down by 63 cents, or 1.3 percent.
read more... 31/08/2016