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Daily: January Brent and U.S. crude futures end higher at contract expiration
January Brent and U.S. crude futures which are expiring soon settled up on Friday on expectations that demand in China will boost after data showed that manufacturing sector is reinforcing this month and amid a weaker U.S. dollar which also backed oil prices. Meanwhile, Brent January crude boosted $1.24, or 1.15 percent, to settle at $109.15 a barrel after trading from $108.20 to $109.58. U.S. January crude futures gained 84 cents, or 0.98 percent, to settle at $86.73 a barrel, having traded from $86.05 to $86.92.
read more... 17/12/2012
Italian Eni to invest $8 billion to strengthen Libyan energy production
The Italian oil giant Eni is planning to invest $8 billion in Libya over the next decade in developing its upstream business as it aims to strengthen its position on the international oil and gas market.
read more... 17/12/2012
OPEC ready to cut oil production in 2013 amid oil prices drop
The Organization of Petroleum Exporting Countries (OPEC) announced this week that it will keep its oil output limit at 30 million barrels per day, with production running about 1 million barrels a day above the level of supply that OPEC expects the world will need from it next year. This decision was taken in reaction to higher output from the major consumer United States and a decrease of energy demand which will cause a fall of prices as predicted by some analysts.
read more... 14/12/2012
Daily: U.N. carbon credits dip to record lows on heavy selling
Brent and U.S. crude oil futures climbed more than 1 percent on Wednesday, pushed up by U.S. Federal Reserve plans for more monetary incentives and a Texas refinery fire that sent U.S. refined products futures higher. Meanwhile, Brent January crude climbed $1.49, or 1.38 percent, to settle at $109.50 a barrel, having traded from $108.14 to $110.50. U.S. January crude boosted 98 cents, or 1.14 percent, to settle at $86.77 a barrel, having traded from $85.68 to $87.68.
read more... 13/12/2012
Daily: British gas prices dip despite cold weather
Brent and U.S. crude oil futures climbed in a choppy trading on Tuesday on news that OPEC‘s oil production decline in November and on a weaker dollar low support to oil prices. Meanwhile, Brent January crude climbed 68 cents, or 0.63 percent, to settle at $108.01 a barrel, having traded from $107.09 to $108.34. U.S. January crude futures gained 23 cents, or 0.27 percent, to settle at $85.79 a barrel, having traded from $85.21 to $86.37.
read more... 12/12/2012