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Daily: Oil ends up on Russia-OPEC hopes
Crude oil ended up on Friday on hopes that Russia and OPEC will reach a deal at the weekend aimed to keep crude above $50 a barrel, although traders worried about pressure from a double-digit increase in the U.S. oil rig number. Brent rose 40 cents, or 0.8 percent, to settle at $51.78. For the week, it ended flat. U.S. West Texas Intermediate crude climbed 22 cents, or 0.4 percent, to end at $50.85 a barrel. WTI reached a July 2015 high of $51.93 on Wednesday and ended the week 1 percent higher.
read more... 24/10/2016
Daily: Crude oil prices increase on expectations of OPEC output cut
Oil prices finished higher on Tuesday on expectations of OPEC output reduction, then continued gains in post-settlement trade after the American Petroleum Institute (API) indicated an unexpected draw in U.S. crude stockpiles last week. Brent crude rose 16 cents, or 0.3 percent, to settle at $51.68 a barrel. It climbed to as high as $52.15 after the API figures. U.S. West Texas Intermediate (WTI) crude closed the session up 35 cents, or 0.7 percent, at $50.29. In post-settlement trade, it hit $50.78.
read more... 19/10/2016
Daily: Crude oil slightly down on U.S. rig count rise, firmer dollar
Crude oil prices posted a modest decline on Friday as traders balanced a stronger dollar and another build in the U.S. oil ring number against expectations that more OPEC negotiations of output reductions will keep crude above $ 50 per barrel. Brent, the London-traded crude benchmark, lost 8 cents, or 0.2 percent, to end at $51.95 a barrel. For the week, it closed flat. U.S. West Texas Intermediate (WTI) crude settled down 9 cents at $50.35. It boosted about 1 percent on the week.
read more... 17/10/2016
Daily: Oil settles lower as OPEC output increases
Crude oil prices tumbled on Wednesday after OPEC unveiled another monthly rally in output and prolonged losses in post-settlement trade as industry figures indicated the first increase in six weeks. The OPEC said the production boosted in September to the highest level in at least eight years. Brent crude ended down 60 cents, or 1.1%, at $51.81 a barrel. U.S. West Texas Intermediate (WTI) crude shed 61 cents, or 1.2%, to settle at $50.18.
read more... 13/10/2016
Daily: British gas prices diverge, with day-ahead up due to tight supply
Crude oil prices settled down on Tuesday, retiring from one-year highs amid uncertainty how rapidly global oil supply could be reduced in line with demand even if OPEC and Russia agreed to a steep production limitation. On Tuesday, Brent crude lost 73 cents, or 1.4%, to settle at $52.41 a barrel, retreating from a one-year high of $53.73 reached on Monday. US West Texas Intermediate (WTI) crude declined 56 cents, or 1%, to end at $50.79.
read more... 12/10/2016