Oil major Royal Dutch Shell declared it discovered a gas field under a layer of salt in deep water off the coast of Gabon, in a finding which could corroborate the explorer expectations that elements of West Africa's geology are analogous to Brazil's.
read more... 23/10/2014
Crude oil prices dropped considerably on Wednesday, with U.S. crude nearing $80 a barrel after data showed a second sharp increase in weekly U.S. crude inventories. Brent crude for December delivery slipped $1.51 to settle at $84.71 a barrel, while WTI crude decreased by $1.97 or 2.5 percent to close at $80.52 a barrel, just above the session low of $80.28.
read more... 23/10/2014
Norwegian oil giant Statoil unveiled on Tuesday it discovered at least 30 million barrels of oil in the Grane area in the Norwegian waters of the North Sea, being a result of a recent re-evaluation of the area.
read more... 22/10/2014
Brent crude oil settled up almost 1 percent on Tuesday, buoyed by figures showing stronger-than-expected China demand and some technical price rebound after weeks of continuous selling. Brent increased by 82 cents to settle at $86.22 a barrel. U.S. West Texas Intermediate (WTI) crude boosted 10 cents, or 0.1 percent, at $82.81, after reaching a session peak at $84.05.
read more... 22/10/2014
Brent crude dropped on Monday, falling below $86 a barrel as concerns about oversupply and weak demand dragged down worldwide oil benchmark back to last week’s four-year low. WTI crude hovered below $83 a barrel. Brent settled as low as $84.41, after having dropped 69 cents at $85.47 a barrel by 1945 GMT. U.S. crude declined 4 cents to close at $82.71 a barrel. The spread between Brent and U.S. crude extended at $3.39 a barrel.
read more... 21/10/2014