Crude oil futures plunged 6 % on Monday, posting their weakest level in nearly seven years, after OPEC hesitated to address an intensifying oversupply, while a stronger dollar also weighed on crude decrease. Brent and U.S. crude settled at or near February 2009 lows on Monday. Brent lost $2.27 to close at $40.73, after hitting a February 2009 low of $40.60. WTI crude fell $2.32 at $37.65 a barrel. That was its lowest settlement since February 2009, and after reaching a session low of $37.50.
read more... 08/12/2015
Crude oil prices declined on Friday following the news that the OPEC was planning to keep its production near record highs despite a collapse in oil prices, intensifying worries about an oversupplied market. Brent crude oil futures shed 84 cents, or nearly 2 percent, to close at $43, after a rebound in early trade. The benchmark contract was within cents of Augusts’ 6-1/2-year trough. U.S. crude futures slipped $1.11, or nearly 2 percent, to settle at $39.97.
read more... 07/12/2015
Crude oil prices hiked on Thursday, on expectations of a possible reduction in production from the OPEC and the U.S dollar weakness helped crude oil to rebound by nearly 3% of a decline that dragged the WTI below $40 a barrel. On the New York Mercantile Exchange, WTI crude for delivery on January rose $1.14, or 2.9%, to close at $41.08 a barrel. Brent crude for January delivery increased by $1.35, or 3.2%, to close at $43.84 a barrel on London’s ICE Futures exchange.
read more... 04/12/2015
Brent crude dipped to nearly seven-year low and WTI crude plunged under $40 a barrel on Wednesday, after the U.S. government unveiled a 10th consecutive weekly hike in crude supplies and on expectations from a higher interest-rate by the central bank later this month. Brent crude declined by $1.95, or 4.4%, to settle at $42.49 a barrel on London’s ICE Futures exchange, the lowest settlement since March 2009. WTI crude for January delivery eased $1.91, or 4.6%, to close at $39.94 a barrel on the New York Mercantile Exchange.
read more... 03/12/2015
Crude oil prices closed lower in light-volume in New York on Friday as the dollar rocketed to an eight-month high and a decline in Chinese equities added pressure to an oversupplied market. WTI settled down $1.33 at $41.71 a barrel, trading just over 280,000 lots after Thursday's Thanksgiving holiday. Benchmark Brent oil ended the session down 60 cents, or more than 1%, to settle at $44.86.
read more... 30/11/2015