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Daily: Crude oil prices fell 3% on U.S. oil rig count increase
Crude oil prices closed down 3 percent on Friday after figures indicating the U.S. oil rig count bounding for a second consecutive week and the appreciating dollar weighted on demand for greenback-denominated crude futures. Brent's front-month eased $1.41 to close at $50.54 a barrel, declining 2.7 percent for its largest drop in a month. The front-month in U.S. crude's West Texas Intermediate (WTI) futures lost $1.49 to $49.07, down 3 percent, marking the largest decline since early April.
read more... 13/06/2016
Daily: British spot gas prices jump on weaker imports from Norway
Crude oil prices ended down on Thursday, reversing a three-day hike after touching another 2016 high, as a stronger dollar triggered profit-taking in crude futures by investors. However, persistent worries about supply disruption in Nigeria limited losses. Brent crude oil futures closed down 56 cents at $51.95 a barrel, after declining nearly $1 earlier. It attained a 2016 high of $52.86 during the session. U.S. crude's WTI futures eased 67 cents to settle at $50.56, after falling $1 at the session low. WTI's intraday peak was $51.67, the highest level for this year.
read more... 10/06/2016
Daily: European spot electricity prices firm, while forwards decline tracking weaker coal
Crude oil futures boosted on Wednesday, attaining 2016 highs above $50 a barrel and closing up for a third consecutive day on worries about sabotage oil facilities in Nigeria, although an increase in U.S. gasoline inventories amid peak summer demand could drag down prices. Brent crude rose by $1.07 to end at $52.51 a barrel. It prolonged gains in post-settlement trade, hitting $52.60 a barrel by 3:55 p.m. EDT (1955 GMT), and the highest level since October. WTI crude futures climbed 87 cents, or 1.7 percent, to close at $51.23 a barrel. The session peak was $51.34, the highest level since July.
read more... 09/06/2016
Daily: Oil rallies to 2016 high on U.S. stockpiles draw forecasts, worries about supply disruption in Nigeria
Crude oil prices rallied over 1 percent on Tuesday, attaining 2016 highs, with WTI ending above $50 a barrel for the first time in almost a year, pushed up by expectations of domestic inventories draws and concerns about global supply disruptions from attacks on Nigeria’s oil industry. U.S. crude's WTI futures rose by 67 cents, or 1.4 percent, to close at $50.36 a barrel. It was WTI's first settlement above $50 since July 2015. The session peak was $50.53, a high from October. Brent crude futures jumped 89 cents, or 1.8 percent, to settle at $51.44 a barrel. In post-settlement trade, Brent hit $51.54, a peak since October. Both Brent and WTI have almost doubled in value since winter, when they plunged to the weakest level since 2003.
read more... 08/06/2016
Daily: WTI crude post the highest level since July 2015 on supply disruptions
Crude oil prices rallied for a third consecutive day on Monday, spurred by attacks on Nigeria’s oil industry and new draws in U.S. crude inventories. July West Texas Intermediate crude boosted $1.07, or 2.2%, to settle at $49.69 a barrel on the New York Mercantile Exchange, the highest level since July 21 of last year. August Brent crude climbed 91 cents, or 1.8%, to settle at $50.55 a barrel on London’s ICE Futures exchange. During the session, it reached $50.83, its highest since November.
read more... 07/06/2016