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Daily: Crude oil rallies on hopes of Russia, OPEC cooperation
Crude oil futures rallied on Wednesday after a declaration from Russia’s energy ministry that there is a possibility of cooperation with OPEC, raising hopes for a deal to slash a global oversupply. Brent crude increased $1.30, or 4.1 percent, to close at $33.10 a barrel, after hitting a session high of $33.49. WTI crude climbed 85 cents to settle at $32.30 per barrel, up 2.7 percent, having peaked at $32.84.
read more... 28/01/2016
Daily: Crude oil soars on hopes for output cuts to slash oversupply
Crude oil prices hiked on Tuesday, increasing over 4 percent as investors were optimistic that expected output cuts could eventually reduce one of the largest global oversupplies in decades. Crude climbed after OPEC urged rival producers to cut supply alongside its members. Brent crude rose $1.30, or 4.26 percent, to settle at $31.80 a barrel, recovering from a decline at the start of the session to pick at $32.72. U.S. crude climbed 3.7 percent, or $1.11, to close at $31.45 a barrel. During the session it increased as high as $32.41.
read more... 27/01/2016
Daily: European forward power prices sink on lower spot demand due to milder weather
WTI crude rebounded by about 2 percent on Monday, recovering modestly from 11-year lows. Both global benchmark Brent and WTI crude have declined aftermath an OPEC meeting on December 4 which resulted in removed production ceiling, worsening the global crude oversupply. Brent futures for January delivery shed 1 cent to settle at $37.92 a barrel. U.S. crude increased 69 cents, or 1.94 percent, to close at $36.31.
read more... 15/12/2015
Daily: Crude oil prices end under $37 for the first time since 2009
Crude oil prices settled under $37 a barrel on Thursday for the first time since 2009 following the release of a report from OPEC’s indicating a hike in crude oil production in November to the highest monthly level in three years. On the New York Mercantile Exchange, West Texas Intermediate crude for January delivery slipped 40 cents, or 1.1%, to end at $36.76 a barrel. Brent crude for January delivery on London’s ICE Futures exchange eased 38 cents, or 1%, to hit $39.73 a barrel.
read more... 11/12/2015
Daily: Crude oil prices collapse for a fourth consecutive day
Crude oil prices plunged for a fourth day in row on Wednesday after the market neglected an unexpected decline in U.S. crude inventories to focus on a hike in distillates, including diesel, which rose two times more than expected. Brent crude decreased by 15 cents to settle at $40.11 a barrel, after touching a near seven-year low at $39.57. The benchmark has lost $3.73, or 8.5 percent, since Thursday, after the OPEC meeting on Friday. U.S. West Texas Intermediate (WTI) crude ended the session down 35 cents at $37.16.
read more... 10/12/2015