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Daily: WTI crude dips to 2-month low on stockpiles draw disappointment
Crude oil prices plunged by about 5 percent on Thursday, reversing previous gains, with market expressing its disappointment of a lower than expected draw in U.S. crude inventories. Brent crude oil futures eased $2.37, or 4.8 percent, to settle at $46.43 per barrel on Thursday. It jumped 1.6 percent earlier to a session peak of $49.59. WTI closed at $45.14 a barrel, down $2.29, or, 4.83 percent, breaking through the $46 resistance level, posting at its lowest level since May 10.
read more... 08/07/2016
Daily: Crude oil rebounds almost 2% on optimistic U.S. economic data
Oil prices rebounded almost 2 percent on Wednesday as optimistic U.S. economic data spurred crude futures from two days of declines, although a gasoline oversupply and concerns about implications of Brexit suggested more pressure ahead. Brent crude rose by 84 cents, or 1.8 percent, to settle at $48.80 a barrel. U.S. crude futures increased 83 cents, or 1.8 percent, to close at $47.43.
read more... 07/07/2016
Daily: Crude oil plunges 5 % on Brexit possible implications over economy
Crude oil prices plunged nearly 5 percent on Tuesday, on investors’ concerns that Britain’s exit from the European Union would sink the economy, with energy demand incapable of absorbing the oversupply. Brent futures lost $2.14, or 4.3 percent, to settle at $47.96 a barrel, while U.S. crude declined $2.39, or 4.9 percent, to close at $46.60.
read more... 06/07/2016
Daily: European forward power prices increase on firmer fuel markets
Crude oil prices lost ground on Monday, after comments by Saudi Energy Minister Khaled Al-Faleh that the market was heading toward balance were mitigated by weakening demand in Asia, gasoline oversupply and expectations that crude output could rise. Brent crude futures eased 25 cents to settle at $50.10 per barrel. U.S. crude futures fell 23 cents to close at $48.76 per barrel. The trading for U.S. crude was thin as markets were closed on Monday for the U.S. Independence Day holiday.
read more... 05/07/2016
Daily: Crude oil advances on pre-holiday buying, weaker dollar
Oil prices hiked on Friday and Brent crude registered its biggest weekly gain since mid May, as investor’s positioned for the start of third quarter trading, while the dollar deprecation spurred prices for most commodities. Brent crude futures rose 64 cents, or 1.3 percent, to settle at $50.35 a barrel. It declined 1 percent early in the session. U.S. crude's West Texas Intermediate (WTI) futures boosted 66 cents, or 1.4 percent, to close at $48.99.
read more... 04/07/2016