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Moody’s unveils sharp cut in oil price assumptions
Moody’s sharply curbed its oil price for 2016 by $10 a barrel due to continued oversupply, which may be spurred by the lifting of sanctions against Iran.
read more... 16/12/2015
Daily: Crude oil prices rebound, ending a slide to 11-year lows
Crude oil prices recovered by about 3 percent on Tuesday, ending a decline to 11-year lows on short covering, but traders said that the increase is not likely to persist in an oversupplied market and ahead of an expected U.S. rate hike which will trigger a dollar rally. Brent crude rose 49 cents, or 1.29 percent, to settle at $38.41 a barrel. On Monday, the global oil benchmark came within 14 cents of a December 2008 low of $36.20. WTI closed at $37.35 a barrel, up 2.86 percent, or $1.04. It shed to $34.53 the previous day, hovering above its financial crisis low of $32.40.
read more... 16/12/2015
Daily: Brent crude plunges to seven-year lows amid Chinese currency decline
Brent crude oil prices dipped to seven-year lows as the Chinese’s yuan currency declined on risk aversion ahead of anticipated U.S. interest rate increase next week and concerns that the currency’s depreciation could weigh over economic growth. Brent crude registered its biggest weekly percentage drop in over a year, while U.S. crude posted its largest such decline in about a year. Brent crude lost 4.53 percent to close at $37.93 a barrel after attaining $37.36, its weakest since December 2008. U.S. crude decreased 3.10 percent to settle at $35.62 after reaching $35.32, its lowest level since February 2009.
read more... 14/12/2015
Daily: Crude oil prices end under $37 for the first time since 2009
Crude oil prices settled under $37 a barrel on Thursday for the first time since 2009 following the release of a report from OPEC’s indicating a hike in crude oil production in November to the highest monthly level in three years. On the New York Mercantile Exchange, West Texas Intermediate crude for January delivery slipped 40 cents, or 1.1%, to end at $36.76 a barrel. Brent crude for January delivery on London’s ICE Futures exchange eased 38 cents, or 1%, to hit $39.73 a barrel.
read more... 11/12/2015
Daily: Crude oil prices collapse for a fourth consecutive day
Crude oil prices plunged for a fourth day in row on Wednesday after the market neglected an unexpected decline in U.S. crude inventories to focus on a hike in distillates, including diesel, which rose two times more than expected. Brent crude decreased by 15 cents to settle at $40.11 a barrel, after touching a near seven-year low at $39.57. The benchmark has lost $3.73, or 8.5 percent, since Thursday, after the OPEC meeting on Friday. U.S. West Texas Intermediate (WTI) crude ended the session down 35 cents at $37.16.
read more... 10/12/2015