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Daily: Crude oil settles down in volatile trade ahead of top oil producers meeting
Crude oil prices settled down on Friday, snapping two weeks of gains, as speculations about a possible agreement between top oil producers defied concerns about intensifying supply glut. Global benchmark Brent crude futures fell 40 cents or 1.2 percent to close at $34.06 a barrel, after trading between $35.14 and $33.81. U.S. crude futures declined 83 cents or 2.6 percent lower, to close at $30.89 a barrel, after hitting a peak of $32.45. The contract shed slightly lower to $30.63 in post-settlement trading.
read more... 08/02/2016
Daily: European prompt power price soar amid lower wind and solar output
Crude oil tumbled 2% in volatile trading on Thursday, as support from a depreciating dollar was eclipsed by speculation about possible talks the Organization of the Petroleum Exporting Countries and other oil producers to jointly cut output. Brent futures declined 1.6 percent, or 58 cents, to settle at $34.46 a barrel, after fluctuating between $34.15 and $35.84. WTI crude also ended lower, down 56 cents, or 1.7 percent, at $31.72 after swinging between $31.53 and $33.60.
read more... 05/02/2016
Montenegro grants oil concessions to Eni and Novatek for 30 years
The Montenegrin government offered concessions for oil and gas exploration for a period of 30 years in the Adriatic sea to a conglomerate of Italy's Eni and Russian No. 2 gas company Novatek, an economy ministry representative declared on Thursday.
read more... 05/02/2016
French Total inks 10-year supply agreement with China’s ENN
French oil and gas giant Total has inked a binding Heads of Agreement with ENN LNG Trading for the delivery of 500,000 tonnes per year of liquefied natural gas (LNG) for a period of 10 years.
read more... 04/02/2016
Daily: Oil crude soars 8% on depreciating dollar
Crude oil prices hiked 8 percent on Wednesday, snapping two days of declines, after investors took advantage of a depreciating U.S. dollar, dragged down by data showing a surprisingly increase in U.S. crude stockpiles to record highs. WTI crude posted one its biggest gains in five months, boosting $2.40, or 8 percent, to settle at $32.28. Brent futures soared $2.32, or 7.1 percent, to close at $35.04 a barrel, after increasing as high as $35.11.
read more... 04/02/2016