Crude oil prices settled down on Wednesday and continued to decline in the post-settlement trade on worries about an intensifying oversupply kept crude under pressure this week, compensating recent views that falling U.S. production would spur prices. WTI crude shed 2 cents to close at $46.64. Global crude benchmark Brent eased 9 cents to close at $49.15 then declined 46 cents in post-settlement trade.
read more... 15/10/2015
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
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
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
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