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Weekly Review: Crude oil price rose to the peak in three weeks, hopes for output cut
Crude oil rose to their highest in three weeks on hopes for a pact among oil producers to cut output, while the US dollar slipped on bets that interest rate hikes by the Federal Reserve would be more gradual than it has suggested. Brent crude oil was still pressured by ample supplies and evidence showed that more North Sea crude will be heading out of the region in February.
read more... 01/02/2016
Finland: liberalisation of its gas market expected by 2020
Finland intends to progressively liberalise its wholesale and retail gas markets by 2020 amid plans to connect its gas system with the Baltic states, cutting its reliance on Russian imports, as stated by the economy ministry on Thursday.
read more... 22/01/2016
Daily: Crude oil rebounds from 12-year lows on equities hike, short covering
Crude oil prices rebounded over $1 a barrel from 12-year lows on Thursday, posting their largest gain this year, as firmer financial markets gave traders reason to take profits on record short positions. Benchmark Brent futures for March delivery rose by $1.37 to settle at $29.25 a barrel, a 4.9 percent gain. U.S. crude climbed $1.18 or 4.2 percent to close at $29.53 per barrel. Brent boosted as much as 7 percent during the session to $29.84, while WTI increased as much as 6.7 percent to hit $30.25.
read more... 22/01/2016
Daily: European forward power prices at record lows as oversupply worries crippled oil prices
U.S. crude oil prices plummeted below $27 dollars a barrel on Wednesday for the first time since 2003, dragged down by a wide decline across financial markets, with traders being concerned that the supply glut could persist for longtime. WTI crude for February delivery, which expired at the end of the day, shed $1.91, or 6.7 percent to settle at $26.55. New front-month March futures dropped nearly 4 percent on the day to close at $28.35 a barrel. Brent futures for March delivery lost 88 cents to close at $27.88 a barrel, a 2.7 percent decline after retiring from a new contract low of $27.10.
read more... 21/01/2016
Removal of sanctions against Iran could hit oil
U.S. and Europe have finally lifted sanctions on against Teheran on Saturday, move that could shake up oil markets.
read more... 19/01/2016