The U.S. crude oil benchmark on Tuesday posted a premium to its global equivalent for the first time in more than five years, partly supported by the lifting of a four-decade ban on U.S. oil exports and pessimistic bets before the year-end made by analysts. Futures on Brent crude declined 24 cents, or 0.7%, to end at $36.11 a barrel on London’s ICE exchange, while futures for February delivery of West Texas Intermediate crude climbed 33 cents, or 0.9%%, to settle at $36.14 a barrel. WTI closed above Brent on August 16, 2010.
read more... 23/12/2015
Brent crude oil plunged to its lowest price in more than 11 years on Monday, as demand for heating oil declined on warmer-than-normal temperatures. Brent's premium over U.S. crude narrowed further after President Barack Obama passed a law on Friday that will lift a 40-year ban on U.S. crude oil exports. U.S. crude futures rose 1 cent to settle at $34.74 a barrel in the last day of trading on the January contract, before slipping slightly in post-settlement trading. Brent futures collapsed 53 cents to end at $36.35, drooping as much as 2 percent during the session to a low of $36.04, their weakest since July 2004.
read more... 22/12/2015
Crude oil prices declined about half a percent on Friday after a surprisingly increase of U.S. oil rig for the first time in five weeks, dragging down a market already at seven-year lows. Brent and WTI futures fell for a third consecutive week, ending 2015 down about 35% amid oil oversupplies. Brent ended the session down 18 cents, or 0.5 percent, at $36.88. Brent posted a 3 % decline on the week. WTI settled at $34.29 a barrel, the lowest level since February 2009, after the release of the Baker Hughes' report. For the week, WTI lost 2.5%.
read more... 21/12/2015
Crude oil futures ended lower on Thursday, as recent figures showed a surprisingly hike in U.S. crude supplies and dollar appreciation following the Federal Reserve’s decision to increase interest rates. WTI crude for January delivery declined 57 cents, or 1.6%, to settle at $34.95 a barrel on the New York Mercantile Exchange. Brent crude for February delivery on London’s ICE Futures exchange also fell 33 cents, or 0.9%, to close at $37.06 a barrel.
read more... 18/12/2015
Crude oil prices plunged to fresh multiyear lows on Wednesday as U.S. commercial crude and refined-product stockpiles soared to a record. WTI crude for January delivery eased $1.83, or 4.9%, to settle $35.52 a barrel on the New York Mercantile Exchange, the lowest level since February 2009. Brent, the global benchmark, declined $1.26, or 3.3%, to close $37.19 a barrel on ICE Futures Europe, the weakest level since December 2008. Both benchmarks lost more than 30% this year.
read more... 17/12/2015