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Daily: Crude oil prices continue to fall on stockpiles hike to record
Crude oil prices plunged to fresh multiyear lows on Wednesday as U.S. commercial crude and refined-product stockpiles soared to a record. WTI crude for January delivery eased $1.83, or 4.9%, to settle $35.52 a barrel on the New York Mercantile Exchange, the lowest level since February 2009. Brent, the global benchmark, declined $1.26, or 3.3%, to close $37.19 a barrel on ICE Futures Europe, the weakest level since December 2008. Both benchmarks lost more than 30% this year.
read more... 17/12/2015
Centrica to cease the operations at Killingholme gas-fired power plant in UK
Killingholme gas-fired power plant in UK, operated by Centrica, is scheduled to cease its activities on March 1.
read more... 16/12/2015
Moody’s unveils sharp cut in oil price assumptions
Moody’s sharply curbed its oil price for 2016 by $10 a barrel due to continued oversupply, which may be spurred by the lifting of sanctions against Iran.
read more... 16/12/2015
German BASF to invest $6bln in Iran’s petrochemical industry
The world’s largest chemical company, Germany’s BASF, is envisaging investing $6 billion in Iran’s petrochemical sector, according to director of planning at the National Petrochemical Company (NPC) Hamid Reza Rostam.
read more... 16/12/2015
Daily: Crude oil prices rebound, ending a slide to 11-year lows
Crude oil prices recovered by about 3 percent on Tuesday, ending a decline to 11-year lows on short covering, but traders said that the increase is not likely to persist in an oversupplied market and ahead of an expected U.S. rate hike which will trigger a dollar rally. Brent crude rose 49 cents, or 1.29 percent, to settle at $38.41 a barrel. On Monday, the global oil benchmark came within 14 cents of a December 2008 low of $36.20. WTI closed at $37.35 a barrel, up 2.86 percent, or $1.04. It shed to $34.53 the previous day, hovering above its financial crisis low of $32.40.
read more... 16/12/2015