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Daily: U.S. crude at 16-month high above $108
U.S. crude oil touched its upper level in 16 months on Thursday, up above $108 a barrel on signs of a stronger U.S. economy and lessening its discount to North Sea Brent to the narrowest in almost three years. Meanwhile, U.S. crude oil on WTI settled at a 16-month high of $108.04, increasing $1.56. Brent crude oil traded 9 cents up to settle at $108.70 a barrel, with its premium over U.S. crude hitting an intraday low of just 51 cents a barrel, the narrowest spread since August 2010.
read more... 19/07/2013
Daily: Crude oil jumps on U.S. stockpiles drop
Brent crude increased on Wednesday, while gasoline prices dropped slightly after U.S. EIA reported a 6.9 million barrel decrease in American crude stockpiles and larger-than-expected increases in gasoline inventories. Brent crude rose 47 cents to settle at $108.61 a barrel. Meanwhile, WTI added 48 cents to settle at $106.48 a barrel.
read more... 18/07/2013
Daily: EU carbon allowances at highest level since supply vote
Brent crude rose on Tuesday as U.S. gasoline prices jumped to four-month highs following refinery problems during summer driving season and higher prices for ethanol credits. Meanwhile, Brent crude for August delivery edged up 31 cents to settle at $109.40 a barrel, the highest settlement since April 2. In the same time, U.S. crude oil settled down 32 cents at $106.00 a barrel, while the front month contract has been trading at or above 70 since July 5.
read more... 17/07/2013
Italy’s Eni to diminish production targets at Iraq oil field
The Italian oil giant Eni decided to diminish production targets at its major oil field in Iraq-Zubair, while extending the duration of the Technical Service Contract for an additional five years, until 2035.
read more... 16/07/2013
Daily: UK gas prices drop on warmer weather forecast
Crude oil futures registered a slight increase on Monday in thin trade, reversing earlier losses, as the market assimilated mixed economic and industry data from the United States and China, the greatest oil consumers in the world. Brent crude front-month edged up 28 cents to settle at $109.09 a barrel, after earlier dropping below $108 a barrel. The August contract expires on Tuesday. Meanwhile, U.S. crude oil traded 37 cents up to close at $106.32 a barrel after slipping below $105 earlier in the session, following the publication of the U.S. retail sales data.
read more... 16/07/2013