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Daily: WTI crude plunges to six-and-half-year low on unexpected stockpiles hike
WTI crude oil decreased more than 4 percent on Wednesday to reach a 6-1/2-year low and almost break below $40 per barrel, dragged down by a massive unexpected inventories hike in the United States which intensified worries about growing global oversupply. U.S. front-month futures contract, which expires on Thursday, declined $1.82, or 4.3 percent, to settle at $40.80 a barrel. It fell as low as $40.46 during the session, its lowest level since March 2009. The front-month in Brent, the global benchmark for oil, lost $1.65, or 3.4 percent, at $47.16 a barrel. It continued to slip to $2 in post-settlement trade.
read more... 20/08/2015
Total might begin Bulgaria offshore drill in early 2016
French oil company Total declared on Monday it was on the way to begin drilling for oil and gas at an exploration location off Bulgaria's Black Sea coast early next year.
read more... 19/08/2015
Daily: European spot electricity prices jump on lower wind output in Germany, higher electricity demand in France
Crude oil prices increased on Tuesday, with WTI crude soaring as much as 2 percent, spurred by optimistic economic figures and bets for weaker crude inventories in the United States, the largest oil consumer in the world. WTI crude rose by 75 cents to settle at $42.62 a barrel. Brent, the London-traded global benchmark for oil, boosted 7 cents to settle at $48.81, snapping a three-day loss. Brent declined initially on Tuesday morning after a stock market collapse in China, the No. 2 oil consumer.
read more... 19/08/2015
Daily: British gas prices shed on a glut in the transmission system
Crude oil declined about 1 percent on Monday, with WTI crude closing within a range of a fresh 6-1/2-year low on Japan declarations that its economy contracted in the second quarter and China’s downturn continued to weigh on sentiment.
read more... 18/08/2015
Daily: WTI crude oil recovers from six- and- half year low, while Brent plunges
U.S. crude oil rebounded after declining to a new 6-1/2 year low on Friday, registering a seventh weekly loss due to worries about supply glut, while Brent futures fell as the front-month September contract neared to expiration. U.S. September crude closed at $42.50 a barrel, up 27 cents, and continued to oscillate in post-settlement trade. Expiring Brent September crude dropped 19 cents to settle at $49.03, but rose nearly 1 pence for the week.
read more... 17/08/2015