Brent crude oil prices hiked to a four-month high and energy equities increased on Tuesday, bounced by reports of an agreement between two important producers to freeze output, driving U.S. equities higher. Russia and Saudi Arabia reached consensus about an oil output freeze ahead of a producers' meeting there on April 17. Brent crude boosted 3.3 percent to settle at $44.22 a barrel and WTI U.S. crude climbed 4.5 percent to close at $42.17.
read more... 13/04/2016
Brent crude prices rallied to a four-month high on Monday, spurred by strong commodities markets ahead of Doha meeting on April 17 aimed at freezing current output levels. Brent crude futures, the global benchmark, rose 89 cents, or 2.12 percent to settle at $42.83 a barrel, after hitting the highest level since December 7 earlier in the day. U.S. crude futures boosted 64 cents, or 1.6 percent, to close at $40.36 a barrel.
read more... 12/04/2016
Crude oil prices boosted more than 6 percent on Friday to post the largest weekly gain in a month as a decline in U.S. crude inventories fed hopes that a heavy global oversupply may be approaching a turning point after nearly two years. The closure of the Keystone crude pipeline to Cushing, Oklahoma spurred U.S. crude futures. Oil also received support after Russia said its crude output declined in April, ahead of a meeting of major oil-producing countries in Doha intended to freeze output. Brent crude futures rose $2.51, or 6.4 percent, to settle at $41.94 a barrel, attaining a session peak of above $42. U.S. crude futures climbed $2.46, or 6.6 percent, to end at $39.72. Earlier, it climbed to nearly $40.
read more... 11/04/2016
Crude oil prices closed down on Thursday after figures showed robust weekly stockpiles at the U.S. crude storage hub despite a pipeline outage, but prices pared losses on short covering, indicating more volatility ahead. Brent futures eased 41 cents, or about 1 percent, to settle at $39.43 a barrel, backtracking losses from the session low that saw Brent down more than $1, or nearly 3 percent. WTI crude futures ended down 49 cents at $37.26, after plunging as low as $36.69.
read more... 08/04/2016
Crude oil prices boosted 5 percent on Wednesday, their biggest increase in three weeks, after the U.S. government unveiled an unexpected draw in domestic crude inventories versus market expectations for a new record high. U.S. crude's front-month contract rose by $1.86 to settle at $37.75 a barrel. It rallied to $37.90 earlier, after slipping to $35.24 the previous day, its weakest level since March 4. The front-month contract Brent gained $1.97 to close at $39.84 a barrel. Its session peak was $39.94.
read more... 07/04/2016