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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.
read more... 17/08/2015
Daily: WTI crude plunges to a 6-1/2 year low under $42
WTI oil prices declined more than 3 percent to a 6-1/2 year low to close under $42 a barrel on Thursday, dragged down by data showing a considerable increase in key U.S. inventories intensified concerns about an increasing global glut. A stronger dollar and strengthening job data added on oil pressure.
read more... 14/08/2015
Daily: German year-ahead power prices decline tracking bearish energy markets
Crude oil prices traded higher on Wednesday as dollar devaluation and weaker U.S. crude inventories provided a slight increase from six-year lows hit in the previous session, while concerns about China’s depreciating currency and economic downturn deflated prices . WTI crude futures rose 22 cents, or 0.5 percent, to close at $43.30 a barrel, after gaining almost 80 cents at the session high. The market lost $1.88, or more than 4 percent, on Tuesday, closing at $43.08 a barrel, its lowest since March 2009. Futures of Brent edged 48 cents up, or 1 percent, to touch $49.66 a barrel, after a session peak at $50.01.
read more... 13/08/2015
Daily: European prompt power prices slashed by lower temperatures forecasts
U.S. crude plunged at a more than six-year low on Tuesday after China's currency depreciation intensified worries about oil demand in the No. 2 consumer and a new OPEC estimate showed non-member producers are likely to keep output high despite weak prices.
read more... 12/08/2015
Daily: Crude oil rebounds from multi-month lows after a refinery outage in the U.S
Crude oil prices rebounded on Monday, up 4 percent after a hike in U.S. gasoline and diesel due to a refinery outage helped crude futures recover from multi-month lows. Brent boosted 3.7 percent, recording its largest gain since end-May. U.S. crude jumped 2.5 percent, its highest in two months. Brent crude advanced $1.80 to close at $50.41 a barrel. WTI crude added $1.09 to settle at $44.96 a barrel.
read more... 11/08/2015