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Daily: Crude oil soars 2 % following IEA report
Crude oil boosted 2 percent on Friday, with U.S. crude increasing for a fourth consecutive week, after the Paris-based International Energy Agency stated that the market may have hit bottom. Goldman Sachs remained pessimistic, declaring that prices could decline sharply in the next weeks with record U.S. stockpiles builds offsetting production falls in the country. Brent crude rose 34 cents, or nearly 1 percent, to settle at $40.39 a barrel. On the week, it posted a hike of 4 percent, heading for a third weekly gain in a row. WTI crude increased by 85 cents, or 2 percent, to close at $38.69 a barrel, after attaining a 2016 high at $39.02. It recorded an increase 7 percent on the week, a fourth consecutive week of gains.
read more... 14/03/2016
Amec Foster Wheeler will vend GPG division, halve net debt in 15 months
British oil and gas services firm Amec Foster Wheeler Plc declared it would sell its Global Power Group division since it exits several of its non-core assets and halve its net debt in the next 15 months.
read more... 11/03/2016
Daily: Crude oil ends at the highest level in more than a month
Oil prices closed up at the highest level in more than a month on Wednesday, helping to spur world stock markets, while euro remained flat ahead of this week's European Central Bank meeting. Brent crude jumped $1.42 to settle at $41.07 a barrel, up more than 40 percent from its January lows, while U.S. crude WTI rose $1.79 to close at $38.29.
read more... 10/03/2016
Daily: Crude oil prices down 3 percent on record high inventories, Goldman caution
Crude oil prices declined 3 percent on Tuesday after six days of gains for Brent crude, as Goldman Sachs said that the hike was unsustainable and industry figures indicated U.S. inventories attained record highs again last week. Brent eased $1.19, or 2.9 percent, to settle at $39.65 a barrel after reaching a 2016 peak of $41.48 during the session. U.S. crude slipped $1.40, or 3.7 percent, to close at $36.50, after increasing earlier to a three-month high of $38.39.
read more... 09/03/2016
Daily: British spot gas prices increase on weaker supply from UK's continental shelf
Crude oil prices settled up 4 percent as optimistic U.S. jobs figures and technical factors spurred buying that resuscitated this week’s hike after a one-day pause. Brent futures, the global benchmark for crude, rose $1.65, or 4.5 percent, to close at $38.72 a barrel. U.S. crude's West Texas Intermediate (WTI) futures boosted $1.35, or 3.9 percent, to settle at $35.92.
read more... 07/03/2016