Crude oil prices dropped on Wednesday, with Brent declining as a Libyan oilfield resumed its production and U.S. crude falling on shaking demand for gasoline. Brent crude futures decreased by 66 cents to settle at $108.28 a barrel, after hitting a one-month low of $108.14 during the session, its eighth consecutive fall, the longest strip since May 2010. Brent contract for August delivery was trading at a discount of about 19 cents to the September contract. Meanwhile, U.S. crude eased $1.11 to settle at $102.29 after declining as low as $102.00. The WTI benchmark has dropped for nine straight sessions, its longest streak since December 2009.
read more... 10/07/2014
Brent crude slipped more than $1 a barrel on Tuesday, posting its seventh consecutive decline, hitting a one-month low below $109 since Libyan oil exports from two ports were likely to resume and fears eased of supply disruption in Iraq. Brent has slumped more than 5 percent since last month, when the Iraq violence pushed up prices to a nine-month high of $115.71. Brent crude for August delivery dropped by $1.30 to settle at $108.94 a barrel, after hitting a session low of $108.69, while the U.S. benchmark crude fell 13 cents to touch $103.40, hitting an eighth consecutive day of declines.
read more... 09/07/2014
Crude oil futures on both sides of Atlantic fell on Monday to the weakest point in a month as Libya lifted a force majeure from two major oil ports following rebels’ agreement to end a blockade last week. Brent crude dropped 40 cents to close at $110.24 a barrel, the lowest settlement price since June 11. Brent had rocketed to a nine-month high of $115.71 in June amid the Iraqi attack, but has since slipped over 4 percent. U.S. oil declined by 53 cents to close at $103.53 a barrel, the weakest level since June 6. It posted the seventh consecutive daily decline, the longest in U.S. oil since December 2009.
read more... 08/07/2014
Crude oil prices plunged on Friday with European Brent sinking below $111 a barrel on expectations of stronger exports from Libya and more U.S. crude soon finding its way to refiners, but losses were capped by optimistic economic data showing a higher demand outlook.
read more... 07/07/2014
Both crude oil benchmark contracts dropped on Thursday as supply worries started to attenuate after Libyan government has reached a deal with rebels to end the oil crisis that has curbed exports from the OPEC member. Brent hit a session low of $110.53 before paring losses ahead of the settlement. U.S. oil slipped 42 cents to close at $104.06 a barrel, after plunging as low as $103.67 earlier in the session, posting a three-week low.
read more... 04/07/2014