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Daily: Crude oil rebounds as cold spell spurs fuel demand
Crude oil prices rebounded on Friday, as cold weather across in the United States and Europe spurred energy demand. Brent crude oil, which declined in recent weeks on concerns about supply glut, ended 10 percent higher and above $32 a barrel in one of the biggest daily increases ever. Brent crude boosted 10 percent to close at $32.18, well above this week's low of $27.10, while WTI crude climbed 9 percent to settle at $32.19.
read more... 25/01/2016
Daily: Crude oil rebounds from 12-year lows on equities hike, short covering
Crude oil prices rebounded over $1 a barrel from 12-year lows on Thursday, posting their largest gain this year, as firmer financial markets gave traders reason to take profits on record short positions. Benchmark Brent futures for March delivery rose by $1.37 to settle at $29.25 a barrel, a 4.9 percent gain. U.S. crude climbed $1.18 or 4.2 percent to close at $29.53 per barrel. Brent boosted as much as 7 percent during the session to $29.84, while WTI increased as much as 6.7 percent to hit $30.25.
read more... 22/01/2016
Daily: European forward power prices at record lows as oversupply worries crippled oil prices
U.S. crude oil prices plummeted below $27 dollars a barrel on Wednesday for the first time since 2003, dragged down by a wide decline across financial markets, with traders being concerned that the supply glut could persist for longtime. WTI crude for February delivery, which expired at the end of the day, shed $1.91, or 6.7 percent to settle at $26.55. New front-month March futures dropped nearly 4 percent on the day to close at $28.35 a barrel. Brent futures for March delivery lost 88 cents to close at $27.88 a barrel, a 2.7 percent decline after retiring from a new contract low of $27.10.
read more... 21/01/2016
Daily: Brent crude recovers from 12-years lows on record Chinese demand
Brent crude recovered on Tuesday from 12-years lows after figures indicated record demand in China, but the fears about oil oversupply put a lid on global gains and sent WTI crude down to its weakest level since 2003. Brent rose 0.7 percent or 21 cents to settle at $28.76 a barrel. It traded as high as $30.24, rebounding from $27.67 on Monday, its lowest level since November 2003. U.S. crude closed at $28.46 a barrel, down 96 cents or 3.26 pct, at its weakest point since September 2003.
read more... 20/01/2016
Daily: Brent crude hits the weakest level since 2003 as Iran sanctions lifted
Oil prices plunged to the lowest level since 2003 on Monday, dragged down by prospects of Iranian oil adding to the global glut after the lifting of sanctions against Tehran over the weekend. Worries about economic slowdown in China pulled out crude oil by 20% since the beginning of the year. Brent crude for March delivery shed 1.4% to settle at $28.55 a barrel on London’s ICE Futures exchange. Earlier in the session, Brent declined as low as $27.67 a barrel, its weakest level in nearly 13 years. WTI crude for February delivery lost 1.6% to trade at $28.94 a barrel.
read more... 19/01/2016