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Daily: European prompt power prices dragged down by warmer weather
Crude oil futures traded higher in Thursday, backed by optimistic U.S. economic data, an increase in U.S. gasoline futures and a strike at oil ports in France that blocked the oil hub Fos-Lavera, slashing supplies. Meanwhile, Brent crude traded nearly $1 higher above $107 a barrel, having hit a high of $107.30 earlier in the session following the ECB comments. U.S. crude rose 46 cents at $97.84 a barrel after increasing as high as $98.83.
read more... 07/02/2014
Daily: Brent crude gains ground on spread trade
Brent crude oil futures increased on Wednesday as traders took advantage from an over-extended spread trade with U.S. crude oil, while the American light crude was buoyed by a record demand for heating oil amid continued cold snap.
read more... 06/02/2014
US authorises limited crude oil exports to Europe
The U.S. government has approved some new licenses to export crude oil to Europe for the first time after the country banned crude exports following the oil shocks of the 1970s. In December last year, Exxon Mobil Corp. joined Royal Dutch Shell and ConocoPhillips in publicly urging a repeal of the 1970s era federal law that strictly limits exports of domestic oil.
read more... 05/02/2014
Daily: European power prices firm alongside carbon prices
Brent crude oil registered at a three-month low on Tuesday, dragged down by the downturn in emerging markets, while U.S. crude settled higher, spurred by continued demand for heating fuels and the expectation of oil inventory figures to indicate a large draw from storage at the benchmark's delivery point, at Cushing, Oklahoma.
read more... 05/02/2014
Daily: European spot power prices deviate, widening the spread between contracts
Brent crude oil prices declined on Monday, but the losses were capped after traders started to purchase contracts to offset the spread between the European benchmark and its U.S. counterpart, West Texas Intermediate. Brent slipped 36 cents to settle at $106.04 a barrel, after declining during the session to a near three-month low of $105.40.
read more... 04/02/2014