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Daily: Crude oil dips for 5th consecutive session
U.S. crude oil dipped for a fifth consecutive session on Thursday as speculative funds and traders held a record net long position, triggering a drastic price reversal late in the day.
read more... 09/08/2013
Daily: Crude oil slips on Iran’s president nuclear talks
Crude oil dropped around $1 a barrel on Tuesday on Iran’s new president initiative to negotiate with West over Tehran’s controversial nuclear program and following a slide of U.S. gasoline prices dragged down by a sell-off in ethanol credits. Meanwhile, U.S. oil declined $1.26 to settle at $105.30 per barrel, hitting a session low of $104.86 a barrel. Brent crude slipped 52 cents to close at $108.18 per barrel, having fallen to a low of $107.46.
read more... 07/08/2013
Oil giant BP could face 29 million dollars fine
The Federal Energy Regulatory Commission proposed to fine oil giant BP Plc with fines of about 29 million dollars and has ordered to BP to respond to accusations of natural gas market at the Houston Ship Channel manipulation, from mid-September to November in 2008, in a way designed to increase the value of the company’s financial position. The claims followed an investigation by officials from the regulator’s Office of Enforcement (OE). The allegations date back in 2011.
read more... 06/08/2013
Daily: British spot gas trades up on summer maintenance outages
Crude oil settled lower on Monday after hitting a four-month high last week on U.S. services sector growth. Brent and U.S. crude each declined more than $1 earlier in the session on Iranian new president attempts to warm relations with West. Brent crude dropped 25 cents to end at $108.70 a barrel after earlier dropping as much as $1.40 to $107.55. Meanwhile, U.S. crude oil futures declined 38 cents to settle at $106.56 a barrel after earlier falling to $105.70.
read more... 06/08/2013
Daily: European spot power prices boost on lower renewables and falling temperatures
Crude oil futures declined on Friday on disappointing U.S. jobs data which alleviated economic optimism, pushing Brent crude to its highest level in four months and encouraging some investors to take profits.
read more... 05/08/2013