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Daily: British wholesale gas prices increase on reduced flows, short system

Brent crude dropped below $80 a barrel on Wednesday for the first time since 2010, dragged down by technical selling, pressure from dollar appreciation and after Saudi Arabia’s oil minister hesitated to say if the kingdom supports a production cut at OPEC's meeting on November 27. Brent crude reached a session low of $79.84, its lowest level since September 2010, before closing down $1.29 at $80.38. After settlement, Brent declined below $80 again. WTI crude hit a session low of $76.63, then closed down 76 cents at $77.18.

read more... 13/11/2014


Daily: European forward power prices continue to increase on cold spell forecasts

Brent crude settled down on Tuesday after hitting a four-year low, while WTI crude ended up, despite expectations that U.S. oil stockpiles increased in the previous week. Brent declined by 67 cents, or 0.8 percent, to close at $81.67 a barrel, after slipping earlier to $80.46, the weakest level since September 2010. WTI crude soared 54 cents, or 0.7 percent, to settle at $77.94 a barrel, after a setting a session low at $76.42.

read more... 12/11/2014


Daily: European power prices increase tracking gains in coal and carbon prices

WTI crude oil reversed earlier gains on Monday, dropping more than $1 and Brent crude also declined as U.S. dollar rally outweighed concerns about conflicts in Libya and Ukraine. U.S. front-month crude futures slipped as low as $77.20 before settling at $77.40 per barrel, down $1.25. Brent crude also closed down more than $1 per barrel at $82.34.

read more... 11/11/2014


Daily: WTI crude posts its longest weekly decline since 1998

Brent crude futures increased 53 cents to settle at $83.39 per barrel on Friday; however it dropped nearly 3 percent for the week, the seventh consecutive week of losses. U.S. crude mounted less than a dollar on Friday but ended down more than 2 percent for the week, recording the first six straight week decline since December 1998. The Friday increase was spurred in part by geopolitical tensions in Ukraine and the dollar withdrew from its four-year high.

read more... 10/11/2014


Daily: European coal prices plunge to more than 7-year low on supply glut

Crude oil prices climbed on Wednesday, with Brent recovering from a four-year low, as traders reacted to gossip of a pipeline explosion in Saudi Arabia and upbeat news related to U.S. crude inventories. Benchmark Brent oil settled up 13 cents at $82.95 a barrel. U.S. WTI crude rebounded $1.49 to settle at $78.68 a barrel.

read more... 06/11/2014