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Daily: European power prices diverge, with French increasing on stronger demand
Crude oil declined as much as 5 percent on Tuesday after the International Monetary Fund curbed its 2015 global economic forecast and key oil producer Iran insinuated prices could fall to $25 a barrel without supportive OPEC action.
read more... 21/01/2015
Daily: WTI crude reverses previous gains to end down 4.6%
Crude oil prices dropped on Thursday dragged down by an erratic dollar and OPEC’s forecasts for a weakening demand to 28.78 million barrels per day in 2015, down 140,000 bpd from its previous expectation.
read more... 16/01/2015
Daily: Crude oil prices decline as OPEC leader vows not to curb oil production
Crude oil prices resumed their downward trend on Monday on Saudi Arabia’s minister declarations that OPEC would not curb production at any price. Brent crude decreased by $1.27, or 2 percent, to settle at $60.11 a barrel after a session low of $59.84. U.S. crude's front-month contract declined $1.87, or 3.3 percent, to close at $55.26 a barrel.
read more... 23/12/2014
Daily: Crude oil prices to a fresh five-year low on OPEC determination not to curb output
Brent crude oil reached a new five-year low close to $60 a barrel on Monday on OPEC’s decision not to curb output despite fears of a global oversupply. Brent for January delivery plunged to a low of $60.28 a barrel in Asian trade, down $1.57 and its weakest level since July 2009. The futures contract then rocketed to trade around $62.20 by 14:50 GMT, up 35 cents from Friday's settlement. WTI for January delivery settled at $57.50 a barrel, down 31 cents, after hitting a low of $56.25 earlier in the day - its lowest level since May 2009.
read more... 16/12/2014
***Breaking news***: U.S. oil prices crash below $60 for the first time since July 2009
U.S. crude prices plunged below $60 a barrel for the first time in five years, breaking through a key psychological and prompting new selling. Prices have plummeted on OPEC producers’ cartel statements that the supply glut is likely to continue in 2015 and the demand would be the weakest in a decade, dragging prices down even further. The global oversupply is driven partly by rocketing production from the U.S. shale basins. Nymex January West Texas Intermediate, the US oil benchmark, sank 99 cents or 1.6% to settle at $59.95 a barrel on Thursday. Meanwhile, front-month Brent, the international crude benchmark, declined by 56 cents to close at $63.68 a barrel.
read more... 12/12/2014