Latest news
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 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
Daily: Oil prices down on unexpected increase in U.S crude and distillate stockpiles
On Wednesday crude oil prices lost around 3 percent as U.S crude and distillates stockpiles registered an unexpected big increase, with analysts predicting lower levels. After rising more than 11 percent in August oil prices are again under pressure. Brent crude settled at $47/barrel, down 2.7 percent from yesterday, meanwhile WTI crude closed the session at $44.70/barrel, down over 3.5 percent.
read more... 01/09/2016
Daily: British gas prices down on strong domestic supply
Oil prices declined on Tuesday, with Brent decreasing about 2 percent following the dollar's recovery and worries over an oversupplied market situation amid forecast for higher U.S crude stockpiles. According to the latest statements, Iran is close to reach peak production. Brent crude futures decreased to $48.37 per barrel, down by 89 cents, or 1.8 percent, while U.S. West Texas Intermediate (WTI) crude futures settled at $46.35, down by 63 cents, or 1.3 percent.
read more... 31/08/2016