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Daily: European spot electricity prices finish on a mixed note, German contract lifted by stronger consumption
Crude oil prices rebounded on Wednesday , supported by a sharp decrease of the dollar a day before, while the market was still trying to assess the chances of a deal between two of the largest oil producers to freeze oil production. U.S. WTI settled up 67 cents at $45.50 a barrel, a third consecutive session of gains, after U.S. inventory data showed the largest weekly stock draw in over three decades. Brent futures boosted 72 cents to end at $47.98 a barrel.
read more... 08/09/2016
Daily: Brent crude falls on receding hopes for imminent action to tackle a supply glut
Brent crude declined almost 1 percent on Tuesday, as hopes for a deal between two of the largest oil producers to freeze oil production vanished. On Monday, Russian and Saudi officials said they would set up a working group to monitor the oil market and come up with recommendations to promote stability in order to tackle global supply. The announcement gave a lift to oil prices. However, those gains faded by Monday afternoon as the news underwhelmed traders. On Tuesday, Brent futures for November delivery lost 37 cents, or 0.8 percent, to end at $47.26 a barrel. WTI crude did not settle on Monday due to the Labor Day holiday.
read more... 07/09/2016
Daily: Crude oil rallies at one-week high after Russia and Saudi Arabia pact
Crude oil futures hit a one-week high on Monday, after top producers Russia and Saudi Arabia signed a pact to cooperate on stabilizing the oil market and raised hopes that they would work together to tackle a global glut. Brent crude futures for November delivery rose 80 cents per barrel or 1.71 percent to settle at $47.63 a barrel. They earlier touched a session high of $49.40, a peak since August 30, ahead of the Russia-Saudi agreement. U.S. crude for October delivery gained 75 cents or 1.69 percent to end at $45.19 a barrel, after attaining a high of $46.53 a barrel earlier.
read more... 06/09/2016
Daily: Crude oil climbs about 3 percent on pessimistic U.S. job data, declines for the week
Crude oil prices ended up nearly 3 percent on Friday, spurred by a weak dollar crippled by downbeat U.S. jobs report, but for the week, prices posted a sharp decrease on worries about oversupply. Brent crude futures rose by $1.38, or 3 percent, to settle at $46.83 a barrel. For the week, Brent declined 6 percent, its largest drop in five weeks. U.S. West Texas Intermediate futures gained $1.28, also 3 percent, to close at $44.44. WTI lost nearly 7 percent on the week, its largest decrease in eight weeks.
read more... 05/09/2016
Daily: British wholesale gas prices down on an oversupplied market
On Thursday, oil prices registered a decrease of more than 3 percent, their biggest decline in a week since January (almost 9 percent), as investors have put aside rumors about a possible production freeze from OPEC, and focused on an unexpected big increase of US crude inventories. Brent crude prices have settled down $1.44 at $45.45 per barrel, or 3.38 percent. U.S. crude's West Texas Intermediate (WTI) futures fell $1.54 or 3.45 percent at $43.16 a barrel.
read more... 02/09/2016