U.S. crude oil futures climbed on Friday after a report from the U.S. Labor Department showed a fourth straight month of job gains in May, while Brent crude registered a slight decline as tensions in Ukraine eased.
read more... 09/06/2014
Brent crude oil futures increased, while U.S. crude oil limited losses on Thursday in a nervous trading as the euro and dollar were influenced by the European Central Bank's (ECB) decision to cut interest rates to record low levels and as investors forecasted strengthening oil demand in Europe. Brent rebounded from a three-week low and WTI crude from a two-week low reached instantly after the ECB announcement.
read more... 06/06/2014
Statoil remains loyal to its 2016 plans to reduce costs, without having public cost-saving goal for 2020, following Bloomberg’s report mentioning that Norwegian oil firm intends to cut costs in order to generate an extra $5 billion a year by 2020.
read more... 06/06/2014
Brent and WTI crude settled lower on Wednesday on hopes for a peace plan from Ukraine’s new-elected president Petro Poroshenko aimed to end violent clashes between separatists and government forces. The plan helped to calm crude oil’s previous price rally. Brent crude for July delivery slipped 42 cents to end at $108.40 a barrel, while the equivalent crude oil contract in the U.S. fell 2 cents to close at $102.64, after rebounding as high as $103.69 immediately after the publication of U.S. oil stockpiles figures showing a decrease in crude oil stocks the previous week.
read more... 05/06/2014
Brent crude held steady and U.S. crude pared earlier losses to trade higher on Tuesday, as economic data from the United States and China spurred prices which were depressed by increasing global oil production. Brent crude for July delivery dropped by 1 cent to close at $108.82 a barrel, ending above its 50-day moving average of $108.56. WTI prices for July delivery boosted 19 cents to trade at $102.66, hitting $102.86 at 5 p.m. EDT (2100 GMT) in post-settlement trading.
read more... 04/06/2014