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Daily: Oil slumps 4% to five- year low on Wall Street, Kuwait predictions of a deeper price decline
Crude oil dipped 4 percent to fresh five-year lows on Monday, as Wall Street expectations of a considerable price decrease next year and a Kuwait forecast for a crude price of $65 set off one of the largest declines this year. Brent for January delivery slipped $2.88, over 4 percent, to close at $66.19 a barrel, the third-largest one-day percentage slump this year and its weakest settlement price since October 2009. U.S. crude eased 4.2 percent or $2.79 to close at $63.05 a barrel, its lowest level since July 2009.
read more... 09/12/2014
Daily: U.S. oil settles at the lowest level since July 2009 on bearish oil market
Brent crude contract for January delivery plunged in afternoon trade on Friday as the market struggled with the supply glut due to the U.S. shale boom and the recent decision by the OPEC not to curb production. It declined 67 cents to settle at $70 a barrel. U.S. oil ended at a 5-year low on Friday as strong U.S. employment figures increased slightly the bearish oil market a day after Saudi Arabia slashed official selling prices. U.S. crude futures eased 97 cents to settle at $65.84 per barrel, its lowest level since July 29, 2009.
read more... 08/12/2014
Daily: Oil prices shed again on Saudi price discounts
Crude oil settled lower on Thursday as the debate over pricing was prolonged after Saudi Arabia unveiled considerable price discounts for oil it sells to Asian and U.S. buyers. North Sea Brent declined 28 cents to settle down at $69.64 a barrel, after trading in a range of nearly $2. U.S. crude dropped 57 cents to close at $66.81, having slipped to $66.09 earlier.
read more... 05/12/2014
Daily: British gas prices decline as robust supply eclipsed higher demand
U.S crude oil prices settled higher on Wednesday at more than $67 after figures showed an unexpected decline in stockpiles, while a report indicating that Saudi Arabia expected lower prices for oil pulled down Brent below $70 a barrel. The spread between Brent and U.S. crude narrowed to below $3 a barrel, its lowest in 1-1/2 months.
read more... 04/12/2014
Daily: Oil prices resume their downward trend on inventories increase
Crude oil prices returned to their downward tendency on Tuesday after a gain in the previous session, while stockpiles increased as investors snapped up depressed energy shares. Brent and U.S. oil declined by more than 2 percent each after a deal that will bring more Iraqi crude to markets and will push the dollar. Brent crude oil dropped $2.00, or 2.8 percent, to close at $70.54 a barrel, while U.S. crude slipped $2.12, or 3.1 percent, to end at $66.88.
read more... 03/12/2014