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Daily: European spot power prices jump reflecting stronger heating demand amid cold spell
Crude oil prices dropped on Monday, dropping more than $1 a barrel, dragged down by market’s fears about supply glut and dipping to their lowest level since May 2009. Global benchmark Brent crude decreased $1.57 to close at $57.88. U.S. crude tumbled $1.12 to end at $53.61 a barrel, following Brent downward.
read more... 30/12/2014
Daily: European spot power prices fade ahead of five-day Christmas holiday
Crude oil prices increased by more than $2 a barrel on Tuesday, soaring for a second time in three days, after figures indicated the fastest pace of U.S. economic growth in 11 years, rising expectations for crude demand. Brent boosted $1.58 to settle at $61.69 a barrel, prolonging its rise in post settlement to $62.14. U.S. crude rose by $1.86 to close at $57.12, and rallied thereafter to as high as $57.56.
read more... 24/12/2014
Daily: European spot power prices drop on robust wind power supply, tightening demand
Brent crude futures declined for a fifth consecutive day on Tuesday to close below $60 a barrel, while WTI crude ended a volatile session slightly higher as trading of expiring options helped defend the price above $55. Brent crude for January delivery slipped $1.20, or nearly 2 percent, to settle at $59.86 a barrel. The contract has lost more than 10 percent in five days of trading. U.S. crude's front-month rose 2 cents to close at $55.93 a barrel. Its session low of $53.60 was the lowest since May 2009.
read more... 17/12/2014
Daily: Crude oil prices tumbled 3% to five-year lows on IEA pessimistic forecasts
Crude oil markets declined 3 percent or more to tumble to a fresh five-year low on Friday on IEA’s forecast for even weaker oil prices, lower demand and robust supply in 2015. Benchmark Brent oil ended at below $62 a barrel and U.S. crude tumbled to under $58 to prolong Thursday’s decline below $60. Brent decreased $1.83, or nearly 3 percent, at $61.85 per barrel. It slumped to $61.35 during the session, the weakest level since July 2009. WTI crude slipped $2.14, or 3.6 percent, to close at $57.81. It dropped earlier to $57.34, its lowest since May 2009.
read more... 15/12/2014
***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