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Daily: European Cal’17 power contracts collapse at 13-year low tracking lower oil, coal and carbon prices
Crude oil prices plunged 6% on Friday to settle below $30 a barrel for the first time in 12 years, as Chinese stock markets declined further and traders expected an impending increase in Iran’s exports. Brent eased $1.94, or 6.3 percent, to settle at $28.94 a barrel, sticking below the key $30 a barrel threshold after briefly falling below that level in the previous two days. It dipped as far as $28.82, the weakest level since February 2004. U.S. crude lost $1.78, or 5.7 percent, to close at $29.42, after reaching a contract low of $29.13, its lowest level since November 2003, previously in the session.
read more... 18/01/2016
Daily: Oil rebounds after eight-day series of declines
Crude oil prices climbed on Thursday, breaking eight-day series of decline, as investors covered short positions, but the market closed not far from 12-year lows on concerns that Iran may inject barrels in an already oversupplied global market. Brent crude rose 72 cents, or 2.4 percent, to close at $31.03 a barrel. Earlier in the session, it jumped to $31.23 after declining to $29.73, its lowest level since February 2004. Over the past eight sessions, Brent had decreased by about $7 a barrel, almost 20 percent. U.S. crude's West Texas Intermediate (WTI) also increased 72 cents, or 2.4 percent, to settle at $31.20. It attained a 12-year low of $29.93 earlier this week.
read more... 15/01/2016
Daily: Brent near to 12-year low as market struggles with sluggish demand
Brent crude lost 2% on Wednesday after slipping below $30 a barrel for the first time since April 2004 as increasing inventories of oil in the United States intensified worries about demand. Brent shed to a fresh 12-year low at $29.96 a barrel before settling at $30.31 a barrel, down 55 cents or 1.8 percent. WTI crude closed at $30.48, up 4 cents or 0.1 percent after declining as low as $30.10. On Tuesday, it plunged as low as $29.93, the lowest level since December 2003.
read more... 14/01/2016
Daily: Oil prices trade below psychological threshold of $30 a barrel for first time since 12 years
Crude oil prices lost 3 % on Tuesday, posting a seventh straight daily decline for oil. Oil prices shed briefly below $30-per-barrel level, which is both a psychological and financial threshold and prolonging a selloff that has trimmed prices by almost 20% this year. Benchmark Brent crude slipped 69 cents to settle at $30.86, after bottoming at $30.34. U.S. WTI dropped 97 cents to close at $30.44 a barrel, a 3.1% loss, after hitting a low of $29.93, which was last recorded in December 2003. The decline was prompted by intensifying concerns about sluggish demand in China and the lack of output restraint.
read more... 13/01/2016
Daily: European power forwards at fresh lows on weaker coal, carbon prices, economic slowdown in China
Crude oil prices dipped 6 % to hit new 12-year low as further reductions in the Chinese stocks market threatened to sink crude as low as $20 a barrel. Morgan Stanley warned that a further devaluation of the yuan could send oil prices spiraling into the $20-$25 per barrel range, prolonging the year's 15 percent decline. Brent crude futures eased $2.00 to close at $31.55 a barrel, their weakest since April 2004. Brent has collapsed more than 15 percent in six consecutive days of losses, the largest fall in a year. U.S. WTI crude futures shed $1.75 to settle at $31.41 a barrel, the lowest level since December 2003.
read more... 12/01/2016