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Daily: Crude oil prices recover after four days of sharp losses
Crude oil price boosted by around 2% on Friday as traders covered short positions following four days of considerable losses and after Baker Hughes Inc unveiled that U.S. oil rig count plunged for a seventh week in row. U.S. crude rose 88 cents to settle at $47.26 per barrel, down almost 5 percent on the week. Brent for December delivery increased by 73 cents to close at $50.46 a barrel, down about 4 percent on the week.
read more... 19/10/2015
Daily: Oil prices settle down for fourth consecutive day, dragged down by large U.S. stockpile hike
Crude oil prices declined on Thursday after the U.S. government unveiled a larger-than-expected crude inventories increase, slashing prices for a fourth consecutive day. U.S. crude's front-month contract for November delivery decreased by 26 cents, or 0.6 percent, to settle at $46.38 a barrel. Brent crude for November delivery declined 44 cents to settle at $48.71 before the contract’s expiration. Brent for December delivery, which will become the spot contract from Friday, rose by 4 cents to close at $49.73.
read more... 16/10/2015
Daily: European forward power prices decline on weak fundamentals
Crude oil prices settled down on Wednesday and continued to decline in the post-settlement trade on worries about an intensifying oversupply kept crude under pressure this week, compensating recent views that falling U.S. production would spur prices. WTI crude shed 2 cents to close at $46.64. Global crude benchmark Brent eased 9 cents to close at $49.15 then declined 46 cents in post-settlement trade.
read more... 15/10/2015
Daily: Crude oil prices reverse early gains on IEA oversupply concerns
Crude oil prices reversed earlier gains and settled lower on Tuesday after the International Energy Agency (IEA) renewed fears that the market remains oversupplied. U.S. crude closed at $46.66 per barrel, down 0.93 percent, or 44 cents, slashing previous gains over a dollar on technical trades. Brent futures for November delivery settled at $49.24 per barrel, falling 1.24 percent, or 62 cents. Brent futures were above $50 in earlier trading.
read more... 14/10/2015
Daily: European spot power prices up on colder weather, weak wind supply
Crude oil prices declined on Monday, falling 5 % as traders took profits after last week’s hike to an 11-week high and report that OPEC kept on to increase production despite a continuous oversupply. Both Brent and U.S. crude futures recorded the largest percentage losses since the start of September with the North Sea crude slipping $2.79 at $49.86 and West Texas Intermediate declining $2.53 at $47.10. OPEC slashed its estimate of 2016 world oil demand growth by 40,000 bpd to 1.25 million bpd amid sluggish growth in China.
read more... 13/10/2015