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Daily: Brent crude collapses to 11-year low on weaker demand for heating oil
Brent crude oil plunged to its lowest price in more than 11 years on Monday, as demand for heating oil declined on warmer-than-normal temperatures. Brent's premium over U.S. crude narrowed further after President Barack Obama passed a law on Friday that will lift a 40-year ban on U.S. crude oil exports. U.S. crude futures rose 1 cent to settle at $34.74 a barrel in the last day of trading on the January contract, before slipping slightly in post-settlement trading. Brent futures collapsed 53 cents to end at $36.35, drooping as much as 2 percent during the session to a low of $36.04, their weakest since July 2004.
read more... 22/12/2015
Daily: Crude oil prices settle down for a third consecutive week on U.S. rig count hike
Crude oil prices declined about half a percent on Friday after a surprisingly increase of U.S. oil rig for the first time in five weeks, dragging down a market already at seven-year lows. Brent and WTI futures fell for a third consecutive week, ending 2015 down about 35% amid oil oversupplies. Brent ended the session down 18 cents, or 0.5 percent, at $36.88. Brent posted a 3 % decline on the week. WTI settled at $34.29 a barrel, the lowest level since February 2009, after the release of the Baker Hughes' report. For the week, WTI lost 2.5%.
read more... 21/12/2015
Daily: European spot power prices fell amid low demand, mild weather
Crude oil futures ended lower on Thursday, as recent figures showed a surprisingly hike in U.S. crude supplies and dollar appreciation following the Federal Reserve’s decision to increase interest rates. WTI crude for January delivery declined 57 cents, or 1.6%, to settle at $34.95 a barrel on the New York Mercantile Exchange. Brent crude for February delivery on London’s ICE Futures exchange also fell 33 cents, or 0.9%, to close at $37.06 a barrel.
read more... 18/12/2015
Statoil sets $2.77 billion in maintenance deals in Norway
Norway’s Statoil unveiled on Tuesday that it awarded maintenance and modification contracts worth $2.77 billion (NOK24bn) for its offshore and onshore oil and gas facilities in Norway. The company said that the new compensation system is aimed to save on oilfield services and to encourage continuous improvement and higher productivity.
read more... 17/12/2015
Daily: Crude oil prices continue to fall on stockpiles hike to record
Crude oil prices plunged to fresh multiyear lows on Wednesday as U.S. commercial crude and refined-product stockpiles soared to a record. WTI crude for January delivery eased $1.83, or 4.9%, to settle $35.52 a barrel on the New York Mercantile Exchange, the lowest level since February 2009. Brent, the global benchmark, declined $1.26, or 3.3%, to close $37.19 a barrel on ICE Futures Europe, the weakest level since December 2008. Both benchmarks lost more than 30% this year.
read more... 17/12/2015