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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
Daily: Crude oil prices shed on U.S. rig number increase
Crude prices fell more than 1 percent on Friday, prolonging losses after weekly industry figures showed U.S. drillers added nine oil rigs last week. Prices had already declined in early trade on concerns about the U.S. economy, but losses were capped by a weakening dollar. Brent crude futures ended the session down 40 cents at $49.64 per barrel. However, Brent’s remained almost double January lows, hitting its eighth weekly gain in nine weeks. U.S. West Texas Intermediate (WTI) crude futures eased 55 cents to settle at $48.62. For the week, prices dropped 1.1 percent, its first weekly decline in four weeks.
read more... 06/06/2016
Daily: European forward electricity prices near to 2016 high tracking gains in oil markets
Crude prices climbed on Thursday, with Brent ending above $50 a barrel the first time in seven months, after the latest decline in U.S. crude inventories compensated OPEC’s failure to establish a ceiling for its production. U.S. West Texas Intermediate (WTI) crude futures rose by 16 cents, or 0.3 percent, to close at $49.17 a barrel. It had eased more than $1 earlier. Brent futures boosted 32 cents, or 0.6 percent, to settle at $50.04, after hiking at $50.30. It was its first settlement above $50 since November 3.
read more... 03/06/2016