Crude oil prices settled lower with Brent declining more than 1% on Tuesday after collapsing near seven-year lows on worries those global oil producers will pump even more crude in an already oversupplied market. Brent decreased 47 cents to close at $40.26 per barrel, after a session low at $39.81. WTI eased 14 cents to close at $37.51, after tumbling to $36.64 earlier.
read more... 09/12/2015
Crude oil prices declined on Friday following the news that the OPEC was planning to keep its production near record highs despite a collapse in oil prices, intensifying worries about an oversupplied market. Brent crude oil futures shed 84 cents, or nearly 2 percent, to close at $43, after a rebound in early trade. The benchmark contract was within cents of Augusts’ 6-1/2-year trough. U.S. crude futures slipped $1.11, or nearly 2 percent, to settle at $39.97.
read more... 07/12/2015
Brent crude futures ended lower on Tuesday on expectations that OPEC will not reduce output, continuing to pumping crude at record levels to defend market share against non-member oil producers such as the United States and Russia. Brent crude declined 17 cents, or 0.4 percent, to settle at $44.44 a barrel. U.S. crude's WTI futures boosted 20 cents to close at $41.85.
read more... 02/12/2015
Oil stockpiles have rocketed to a record level this year at around 3 billion barrels— the equivalent to more than a month’s supply of global oil consumption amid a robust production in OPEC and elsewhere, according to the International Energy Agency (IEA).
read more... 16/11/2015
Crude oil prices fell almost 4% on Thursday, dragged down by a persisted supply glut and an increase in U.S. inventories and by a pessimistic forecast for next year. Brent crude declined below $45 a barrel for the first time since August, its sixth decrease of a seven-day losing streak of more than $6 a barrel, or 12 percent. Brent futures lost $1.75, or 3.8 percent, to settle at $44.06 a barrel. WTI crude plunged $1.18, or 2.8 percent, to close at $41.75. It posted a record low in August at $37.75.
read more... 13/11/2015