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Daily: Oil futures soar ahead of OPEC meeting
Crude oil prices hiked on Thursday, on expectations of a possible reduction in production from the OPEC and the U.S dollar weakness helped crude oil to rebound by nearly 3% of a decline that dragged the WTI below $40 a barrel. On the New York Mercantile Exchange, WTI crude for delivery on January rose $1.14, or 2.9%, to close at $41.08 a barrel. Brent crude for January delivery increased by $1.35, or 3.2%, to close at $43.84 a barrel on London’s ICE Futures exchange.
read more... 04/12/2015
Daily: Crude oil prices plunge on supply glut, on higher interest rate expectations
Brent crude dipped to nearly seven-year low and WTI crude plunged under $40 a barrel on Wednesday, after the U.S. government unveiled a 10th consecutive weekly hike in crude supplies and on expectations from a higher interest-rate by the central bank later this month. Brent crude declined by $1.95, or 4.4%, to settle at $42.49 a barrel on London’s ICE Futures exchange, the lowest settlement since March 2009. WTI crude for January delivery eased $1.91, or 4.6%, to close at $39.94 a barrel on the New York Mercantile Exchange.
read more... 03/12/2015
Daily: Brent declines at $44.44/bbl on OPEC concerns
Brent crude futures ended lower on Tuesday on expectations that OPEC will not reduce output, continuing to pumping crude at record levels to defend market share against non-member oil producers such as the United States and Russia. Brent crude declined 17 cents, or 0.4 percent, to settle at $44.44 a barrel. U.S. crude's WTI futures boosted 20 cents to close at $41.85.
read more... 02/12/2015
Italian SNAM considers a 20% stake in TAP project
Italian player Snam has unveiled it agreed to purchase a 20% stake in the Trans Adriatic Pipeline (TAP) from Norway's Statoil.
read more... 01/12/2015
Daily: European prompt power rebound as German wind output is expected to halve
Crude oil declined on Monday, reversing a previous hike following the release of a survey which estimated higher OPEC production in November, while a stronger dollar dragged down the demand for commodities denominated in the currency. Brent crude futures eased 25 cents, or 0.6 percent, to settle at $44.61 a barrel. WTI futures fell 6 cents to close at $41.65, down from a session high at $42.61.
read more... 01/12/2015