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Daily: Crude oil ends at 2-week low under $36 a barrel on fresh supply glut
Crude oil prices ended under $36 a barrel on Tuesday, posting their weakest settlement in about two weeks, dragged down by worries about expanding global oversupply and downbeat economic data from China. Brent crude for February delivery on London’s ICE Futures exchange eased 80 cents, or 2.2%, to settle at $36.42 a barrel. West Texas Intermediate crude for February delivery declined by 79 cents, or 2.2%, to close at $35.97 a barrel on the New York Mercantile Exchange.
read more... 06/01/2016
UK oil and gas fields set a production performance for the first time on 15 years
Britain’s oil and gas fields have boosted production for the first time in more than 15 years, according to UK’s government statistics.
read more... 05/01/2016
Daily: European power forwards at lowest levels since 2003
Oil prices declined in volatile trading, as equities market fell sharply on fears of China's sluggish economy. Previously, crude had rose 4% on Middle East tensions. Data showing a stockpile increase at the Cushing, Oklahoma delivery hub for U.S. crude futures helped reverse crude prices. Brent eased 6 cents to close at $37.22 a barrel and U.S. West Texas Intermediate futures lost 28 cents to settle at $36.76 a barrel.
read more... 05/01/2016
Oil and gas companies across the world to slash their capital expenditure in 2016
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
Daily: Oil ends 2015 in a pessimistic mood, down 35%
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