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Daily: Oil futures declines for a second straight session hit by large weekly builds in U.S. stocks
Crude oil futures ended the session at a nearly two-week low on Wednesday after data showing massive weekly builds in U.S. petroleum products counterbalanced an unexpected draw in crude stockpiles. It is the second consecutive day of declines when crude oil fell about 3 percent. WTI crude for October delivery fell by $1.32, or 2.9%, to settle at $43.58 a barrel on the New York Mercantile Exchange. Brent crude for November delivery on London’s ICE Futures exchange lost $1.25, or 2.7%, to $45.85 a barrel in a volatile trade.
read more... 15/09/2016
Daily: Crude oil dips at lowest level in a week after IEA, OPEC see oversupply persisting
Crude oil futures plunged at their lowest level in a week on Tuesday, after the International Energy Agency (IEA) and OPEC revised forecasts indicating that the global crude oversupply could persist much longer than anticipated. Brent crude lost $1.22 or 2.5 percent, to settle at $47.10 a barrel. U.S. West Texas Intermediate crude shed $1.39, or 3 percent, to close at $44.90.
read more... 14/09/2016
Daily: French spot electricity prices buoyed by higher consumption, weak nuclear output
Crude oil futures closed higher on Monday lifted by a weaker dollar and stronger U.S. equity markets which offset worries about increasing drilling activity for oil in the United States. Prices also received a boost from forecasts that U.S. shale oil production could dip for an 11th consecutive month in October. Brent crude rose 31 cents, or 0.7 percent, at $48.32 per barrel. U.S. West Texas Intermediate crude gained 41 cents, or nearly 1 percent, to settle at $46.29.
read more... 13/09/2016
Daily: Crude oil losses ground on stronger dollar, ignoring U.S. stocks draw
Crude oil prices lost 4 percent on Friday, paring most of the previous session’s gains as the dollar rose and the U.S. crude inventories draw was seen as a glitch. Brent crude fell $1.98 to close at $48.01 a barrel after an increase of above $50 for the first time in two weeks on Thursday. WTI crude declined down $1.74 to settle at $45.88. However, for the week, Brent contract rose by 2.5 percent and WTI by 3.24 percent.
read more... 12/09/2016
Daily: Crude oil futures at highest level in two weeks aftermath a massive fall in U.S. stocks
Crude oil futures posted their highest level in at least two weeks on Thursday, after the U.S. EIA revealed the largest withdrawal in crude supplies since 1999. Oil prices also were lifted from Chinese data that indicated another big increase in the country’s crude imports. Brent crude for November delivery rose $2.01, or 4.2%, to settle at $49.99 a barrel on London’s ICE Futures exchange. West Texas Intermediate crude for October delivery gained $2.12, or 4.7%, to close at $47.62 a barrel on the New York Mercantile Exchange. The settlement for WTI was the highest since August 26 and highest for Brent since August 19.
read more... 09/09/2016