World’s largest oil and gas producers are facing the toughest period of spending cuts in decades, as crude prices are at 11-year lows.
read more... 04/01/2016
Crude oil prices rebounded on Thursday, but ended in a downbeat mood, down by as much as 35% for 2015, dragged down by a race to pump by Middle East crude producers and as U.S. shale oil drillers created an unprecedented global oversupply. The United States also took a historic decision to revoke a 40-year ban on U.S. crude exports to countries outside Canada. Brent crude rose 82 cents to close at $37.28 a barrel, recovering from a near 11-year low of $36.10 reached earlier in the session. WTI increased 44 cents to settle at $37.04 a barrel.
read more... 04/01/2016
Crude oil futures reduced towards $37 per barrel on Wednesday since the market stayed under pressure because of decreasing demand and higher supplies, while predictions that a cold snap in Europe and the United States would be short-lived also influenced prices.
read more... 30/12/2015
Crude oil prices declined over 3% on Monday, with Brent nearing 11-year lows again as oversupply worries returned. Brent declined $1.27 to close at $36.62 a barrel, after slipping to a session low of $36.52. It hit $35.98 on Tuesday, its weakest level since 2004. WTI ended the session down $1.29 at $36.81, after an intraday low at $36.66.
read more... 29/12/2015
Crude oil prices rebounded to settle above $38 a barrel on Thursday, with U.S. crude receiving support from declining stockpiles, pushing WTI crude to a premium to global benchmark Brent for the first time in about a year. Brent crude rose 53 cents to settle at $37.89 a barrel. It plunged to $35.98, an 11-year low, on Tuesday. U.S. crude edged 60 cents higher to close at $38.10 after gaining more than 8 percent last week.
read more... 28/12/2015