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Daily: Crude oil prices recover, with WTI up 6%
Crude oil prices recovered on Wednesday, with WTI crude increasing more than 6% as the government unveiled a stockpile hike that reversed pessimistic market expectations and after the Federal Reserve's announcement that it would leave interest rates near zero. U.S. crude rose by $2.74 to close at $45.94 a barrel, hitting a session high at $46.01. Brent crude jumped $2.24 to settle at $49.05. U.S. crude's hike of 6% was the biggest in two months. Brent's 5 % increase was the biggest in three weeks.
read more... 29/10/2015
Statoil to defer commencement date for North Sea Mariner Project to 2018 as oil price slumps
Statoil, the Norwegian oil giant, has delayed the start date for the largest project in the UK North Sea for more than a decade, as the region is harshly affected by a plunge in crude oil prices since summer of 2014 and forced the world’s biggest companies to sharp spending cuts.
read more... 28/10/2015
Daily: Crude oil plunges for a third straight session to hit multi-weeks low on lingering oversupply
Crude oil prices plunged for a third consecutive session to hit multi-week lows on Tuesday on lingering global supply glut ahead of data expected to indicate another build in U.S. crude stockpiles. Brent crude for December delivery shed 73 cents to settle at $46.81 a barrel. The settlement and the $46.41 session low were the weakest level since September 15. WTI crude for December slipped 78 cents to close at $43.20, the lowest settlement since August 27.
read more... 28/10/2015
Daily: Crude oil prices continue the 2-week decline amid refined oil glut lingering concerns
Crude oil prices continued to decline on Monday amid lingering concerns over a global supply glut and weakening demand dragging prices to their lowest settlement in roughly two months. Oil was also under pressure after Goldman Sachs said in a research report that oil prices could go "sharply lower" as storage tanks hit capacity, predicting the oil market would not balance itself in 2016. Brent crude fell 45 cents, or almost 1 percent, to settle at $47.54 a barrel. U.S. crude eased 62 cents, or 1.4 percent, to end at $43.98. Both crude benchmarks have declined by 10 percent over the past two weeks.
read more... 27/10/2015
Daily: Crude oil prices end down on Baker Hughes oil rigs report
Crude oil prices settled lower on Friday, after Baker Hughes said that the number of active oil rigs in the U.S. was down by just one this week. Brent crude pared some losses after the announcement. It declined by 6 cents to settle at $48 a barrel. It was on track to hit a weekly decline of about 5 percent. U.S. crude for December delivery ended down 1.7 percent, at $44.60 a barrel.
read more... 26/10/2015