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Daily: Oil retreats from 2015 high on dollar appreciation, record exports from Iraq
Crude oil prices retreated from 2015 highs on Friday after posting their largest monthly gains for six years in April as Iraq announced its oil exports hit a record in April and amid pressure from a dollar appreciation. Brent crude for June delivery dropped by 32 cents to settle at $66.46 a barrel. However, it posted a 21% increase in April. U.S. June crude eased 48 cents to close at $59.15, after recording a 2015 high of $59.90 and recovering from a $58.32 intraday low. U.S. crude futures boosted 25% last month. Both Brent and WTI crude traded thin as major markets were closed for the May Day holiday.
read more... 04/05/2015
Gazprom net income drops by 86% on oil price decline, rouble
Russian natural gas and oil producer Gazprom endured an 86 percent decrease in net income in 2014 due to the rouble's weakness, the drop in global oil prices and a conflict with Ukraine.
read more... 30/04/2015
Daily: Crude oil prices rocket at 2015 highs on smaller inventories in the US
Crude oil prices rocketed at the highest level this year on smaller-than-expected rise last week in crude stockpiles throughout the United States indicating that the oil glut will start to lessen. U.S. crude futures are expected to settle April up nearly 23 percent and Brent almost 20 percent higher, the largest monthly gains since May 2009 when the global economy was starting to pick up from the financial collapse. Brent crude rallied $1.20 to settle at $65.84 after hitting its year high at $66.72. U.S. crude futures rose by $1.52 at $58.58 a barrel, after reaching a 2015 peak of $59.33.
read more... 30/04/2015
Daily: Crude oil prices under pressure on concerns about record high in U.S. crude stockpiles
Crude oil prices were under pressure on Tuesday, with Brent ending lower and U.S. crude near flat, as concerns about a record high in U.S. crude stockpiles slashed gains from an early increase on security worries in the Middle East and a weak dollar. Brent crude declined by 19 cents, or 0.3 percent, to close at $64.64 a barrel, after soaring to as high as $65.49. WTI crude rose by 7 cents at $57.06, after trading to as high as $57.83.
read more... 29/04/2015
Statoil should go ahead with Snorre field expansion
Norway's Statoil should continue with the postponed improvement of the Snorre oil and gas field in the North Sea since it is a time-critical investment, as stated by energy minister Tord Lien on Monday.
read more... 28/04/2015