Crude oil futures boosted on Tuesday on evidence of declining oil production in North Dakota, depreciation of dollar and turmoil in the Middle East, especially in Yemen. Brent crude firmed by 50 cents to settle at $58.43 a barrel, ahead of Wednesday's May contract expiration, closing just above its $58.40 100-day moving average. WTI crude for May delivery climbed $1.38 to close at $53.29, soaring above its 100-day moving average of $52.96.
read more... 15/04/2015
A small British oil producer declared it had found a potential world class oil resource in the countryside to the south of London that might hold billions of barrels of oil.
read more... 10/04/2015
Crude oil prices plunged 6 percent on Wednesday after rallying at the highest level this year, as a considerable jump in U.S. crude inventories and a record of crude oil production in Saudi Arabia swept away any speculation of sustained recovery. U.S. crude oil stockpiles rocketed 10.95 million barrels - three times more than expected - to a daily record of 482.39 million last week, according to U.S. government data, the largest one-week increase since 2001. WTI crude for May delivery slipped $3.56, or 6.6 percent, to close at $50.42 after ending at nearly $54 a barrel on Tuesday, the highest close since December 30. Brent crude for May delivery slipped $3.55, or 6 percent, to settle at $55.55 a barrel.
read more... 09/04/2015
Crude oil futures soared on Tuesday and U.S. crude jumped close to 2015 highs on optimistic jobs data and government predictions for weaker U.S. crude production growth and stronger demand for oil. The price of U.S. crude oil for May delivery boosted 3.5% to settle $53.98 a barrel, approaching the highest level in 2015 at $55.11 hit on January 2. Brent crude for May delivery on London’s ICE Futures exchange soared 98 cents to settle at $59.10, having fluctuated from $57.02 to $59.27, the highest level since March 26.
read more... 08/04/2015
Crude oil boosted as much as 5 percent on Wednesday, breaking a three-session losing streak, as U.S. crude oil production declined for the first time in two months and the government unveiled a smaller- than- expected increase in weekly inventories. Futures of North Sea Brent increased by $1.99, or 3.6 percent, to settle at $57.10. WTI crude futures rose $2.49, or 5.2 percent, to close at $50.09 a barrel.
read more... 02/04/2015