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Daily: WTI crude post the highest level since July 2015 on supply disruptions
Crude oil prices rallied for a third consecutive day on Monday, spurred by attacks on Nigeria’s oil industry and new draws in U.S. crude inventories. July West Texas Intermediate crude boosted $1.07, or 2.2%, to settle at $49.69 a barrel on the New York Mercantile Exchange, the highest level since July 21 of last year. August Brent crude climbed 91 cents, or 1.8%, to settle at $50.55 a barrel on London’s ICE Futures exchange. During the session, it reached $50.83, its highest since November.
read more... 07/06/2016
Daily: British gas prices continue to decline on higher supplies, weaker oil
Crude oil prices ended flat on Thursday as concerns about Canadian and Nigerian supply outages curbed the impact of a firmer dollar, which has increased on expectations that the Federal Reserve will raise interest rates next month. Brent's front-month contract, for July delivery, eased 12 cents to settle at $48.81 a barrel. It had declined $1.55, or more than 3 percent, to $47.38 a barrel during the session. WTI's June contract fell 3 cents to end at $48.16 a barrel, expiring as the front-month. It slipped to $46.73 earlier.
read more... 20/05/2016
Daily: Oil losses ground, ending a three-day hike on stronger dollar
Crude oil prices declined on Friday, putting the end of a three-day hike, as a strong dollar weighted and investors earned on recent gains, but losses were curbed by disruptions in Nigeria that cut output to the lowest in over two decades and wildfires reduced production from Canada's oil sands. Brent crude futures eased 25 cents to settle at $47.83 a barrel, while U.S. crude dropped 49 cents to close at $46.21. On the week, Brent rose 5.2 percent, while U.S. crude boosted 3.4 percent.
read more... 16/05/2016
Daily: Brent up over 4% on first U.S. crude stockpiles drawdown since March
Crude oil prices increased on Wednesday, with Brent up more than 4 percent for a second consecutive day, after the U.S. government declared that crude stockpiles declines the first time since March, growing concerns over supply disruptions in Canada and Nigeria. Oil markets prolonged gains after the data release. Brent crude futures rose $2.08, or 4.6 percent, to settle at $47.60 per barrel. In the previous session it increased by 4.3 percent. U.S. crude's West Texas Intermediate futures boosted $1.57, or 3.5 percent, to close at $46.23.
read more... 12/05/2016
Daily: Oil prices rebound on outage, API data showing considerable U.S. crude stockpiles increase
Brent crude rose by 4 percent on Tuesday, while U.S crude increased over 2 percent, after a late buying boom driven partly by forecasts that record U.S. crude stockpiles would not surge as much as they have in recent week. Crude supply outages in Canada, Nigeria and elsewhere also spurred prices. Brent increased by $1.89, or 4.3 percent, to close at $45.52 per barrel. U.S. crude's West Texas Intermediate (WTI) futures boosted 1.22, or 2.8 percent, to settle at $44.66. WTI pared gains after API data. The American Petroleum Institute (API) said that U.S. crude inventories increased by 3.45 million barrels to record highs of 543.1 million during the week ended May 6.
read more... 11/05/2016