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Daily: European power forwards at lowest levels since 2003
Oil prices declined in volatile trading, as equities market fell sharply on fears of China's sluggish economy. Previously, crude had rose 4% on Middle East tensions. Data showing a stockpile increase at the Cushing, Oklahoma delivery hub for U.S. crude futures helped reverse crude prices. Brent eased 6 cents to close at $37.22 a barrel and U.S. West Texas Intermediate futures lost 28 cents to settle at $36.76 a barrel.
read more... 05/01/2016
Daily: Oil ends 2015 in a pessimistic mood, down 35%
Crude oil prices rebounded on Thursday, but ended in a downbeat mood, down by as much as 35% for 2015, dragged down by a race to pump by Middle East crude producers and as U.S. shale oil drillers created an unprecedented global oversupply. The United States also took a historic decision to revoke a 40-year ban on U.S. crude exports to countries outside Canada. Brent crude rose 82 cents to close at $37.28 a barrel, recovering from a near 11-year low of $36.10 reached earlier in the session. WTI increased 44 cents to settle at $37.04 a barrel.
read more... 04/01/2016
Daily: Brent crude near 11 year-low as supply glut concerns come back
Crude oil prices declined over 3% on Monday, with Brent nearing 11-year lows again as oversupply worries returned. Brent declined $1.27 to close at $36.62 a barrel, after slipping to a session low of $36.52. It hit $35.98 on Tuesday, its weakest level since 2004. WTI ended the session down $1.29 at $36.81, after an intraday low at $36.66.
read more... 29/12/2015
Daily: Crude oil prices rebound to close above $38 a bbl
Crude oil prices rebounded to settle above $38 a barrel on Thursday, with U.S. crude receiving support from declining stockpiles, pushing WTI crude to a premium to global benchmark Brent for the first time in about a year. Brent crude rose 53 cents to settle at $37.89 a barrel. It plunged to $35.98, an 11-year low, on Tuesday. U.S. crude edged 60 cents higher to close at $38.10 after gaining more than 8 percent last week.
read more... 28/12/2015
Daily: European spot power prices decline ahead of Christmas
Oil futures continued to recover from multiyear lows on Wednesday, closing sharply higher after figures showed that U.S. crude stockpiles recorded an unexpectedly large decline previous week. On the New York Mercantile Exchange, light, sweet crude futures for delivery in February rebounded $1.36, or 3.8%, to settle at $37.50 a barrel. Brent crude for February delivery on London’s ICE Futures exchange rose $1.25, or 3.5%, to end at $37.36 a barrel, ending a five-session losing streak.
read more... 24/12/2015