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Daily: European prompt power fell sharply on cold, windy weather
Crude oil futures tried to stabilize on Tuesday on the New York Mercantile Exchange (Nymex), after declining sharply the previous day to the level of mid-April, as the market was encouraged by the further extension of talks with Iran, worries about Greece's indebtedness and China's stock market losses. WTI crude fell 20 cents to settle at $51.98 a barrel, a three-month low, and extending to more than 8 percent its drop since Thursday's settlement. Brent rose 31 cents to end at $56.85. Both benchmarks increased in post-settlement trade, after the API indicated the higher-than-expected stockpile drop.
read more... 08/07/2015
Daily: Crude oil plunges 8% on Greek vote to reject austerity measures
Crude oil prices plunged by about 8 percent on Monday, registering the largest selloff since five months, as Greece’s vote to reject tough economic bailout conditions and China's stock market woes trigged a deepening spiral of losses. The slump was also encouraged by a potential nuclear deal in Iran, which could result in supply glut on oil market. U.S. crude closed at $52.53 a barrel, down $4.40 or 7.7 percent, from its settlement on Thursday and below the 100-day moving average, the biggest percentage drop in a day since early February. Brent crude crashed $3.78, or 6.3 percent, to settle at $56.54, also below the 100-day average.
read more... 07/07/2015
Daily: European power prices jump on tight nuclear power, heatwave
Crude oil prices declined on Friday on increasing U.S. rig count which intensified worries of global supply glut and after Chinese regulators launched an investigation into suspected stock market manipulation. Front-month U.S. crude settled at $56.56, down 37 cents, falling below a trading range of $57 to $62 seen since early May. Brent crude for August delivery decreased by $1.75 to close at $60.32 a barrel, prolonging a downward trend since early May during which prices have slipped around 13 percent. Front-month U.S. crude stood at $55.52, down $1.41, plunging below a trading range of $57 to $62 recorded since early May.
read more... 06/07/2015
Daily: Crude oil ends flat as U.S. rig count rise curbs gains
Crude oil prices settled slightly changed on Thursday as the number of drilling rigs boosted by 12 times this week, the first increase since December. The count rise pared previous gains. Brent crude increased by 6 cents to close at $62.07 a barrel, after oscillating from $61.90 to $63.20. Prices turned lower in post-settlement trading. WTI crude plunged 3 cents to settle at $56.93, fluctuating from $56.65 to $57.95. It fell 4 percent in the previous session, the highest decline since April, after unexpected stockpiles build last week.
read more... 03/07/2015
Daily: French prompt power prices firm on hot weather, high demand
U.S. crude prices declined 4 percent on Wednesday, recording their largest daily decrease since April after oil inventories in the United States rebounded for the first time in more than two months. WTI crude fell $2.51, or 4.2 percent, to close at $56.96 a barrel. It is biggest decline since April 8. Brent crude shed $1.58, or 2.5 percent, to settle at $62.01.
read more... 02/07/2015