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Daily: Crude oil prices reverse early gains on IEA oversupply concerns
Crude oil prices reversed earlier gains and settled lower on Tuesday after the International Energy Agency (IEA) renewed fears that the market remains oversupplied. U.S. crude closed at $46.66 per barrel, down 0.93 percent, or 44 cents, slashing previous gains over a dollar on technical trades. Brent futures for November delivery settled at $49.24 per barrel, falling 1.24 percent, or 62 cents. Brent futures were above $50 in earlier trading.
read more... 14/10/2015
Daily: European spot power prices up on colder weather, weak wind supply
Crude oil prices declined on Monday, falling 5 % as traders took profits after last week’s hike to an 11-week high and report that OPEC kept on to increase production despite a continuous oversupply. Both Brent and U.S. crude futures recorded the largest percentage losses since the start of September with the North Sea crude slipping $2.79 at $49.86 and West Texas Intermediate declining $2.53 at $47.10. OPEC slashed its estimate of 2016 world oil demand growth by 40,000 bpd to 1.25 million bpd amid sluggish growth in China.
read more... 13/10/2015
Daily: Brent crude registers a 9% hike for the week on PIRA forecast
Brent crude posted a 9.1% hike for the week, while U.S. crude gained 8.8%, registering their biggest weekly percentage gains since late August. The oil boost was spurred after forecaster PIRA Energy Group prognosticated crude prices would soar to $70 per barrel by the end of 2016.
read more... 12/10/2015
Daily: Crude oil prices soar at three-month high on market oracle PIRA bullish forecast
Crude oil prices hiked to their highest level in three month on Thursday after PIRA Energy Group forecasted that oil prices would increase to $75 in 2017, adding to previous gains curbed after a rise in Chinese stockpiles and worries about Russia's military involvement in Syria. PIRA Energy Group, the oil market oracle, said it sees crude prices at $70 per barrel by the end of 2016 and $75 a barrel in 2017. Brent crude oil futures rose by $1.72 to close at $53.05 a barrel, while U.S. crude futures edged $1.62 higher to settle at $49.43 a barrel.
read more... 09/10/2015
Daily: European coal prices pressured by a global supply glut
Crude oil prices declined in volatile trading on Wednesday, breaking a three-day increase, after U.S. government figures indicating a massive crude stockpile increase surprised traders the day after an industry group had reported a decline. Brent, the global crude benchmark, fell 59 cents, or 1.1 percent, to settle at $51.33 a barrel. The West Texas Intermediate (WTI) shed 72 cents, or 1.5 percent, to close at $47.81.
read more... 08/10/2015