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Daily: European forward power prices rally to seven-week high on stronger gas, coal price, upbeat macroeconomic data
Crude futures increased by about 2 percent on Tuesday, with the bounce attributed to technical price triggers, expectations for a weekly decline in U.S. crude supplies and gasoline demand. However, a stronger dollar did little to temper the hike. Brent crude futures rose by $1.11, or 1.8 percent, to close at $64.45 a barrel. U.S. crude futures closed at $61.01, up 63 cents, or 1 percent.
read more... 24/06/2015
Daily: European prompt power prices tumble on stronger supply, nuclear reactor return
Crude oil prices curbed losses to close slightly higher on Monday as a short-covering ahead of the front-month contract expiration in U.S crude spurred the market weakened by concerns about increasing gasoline stockpiles. Initially, oil prices were also influenced by worries about the potential fallout from the Greek debt crisis, counterbalancing positive impact from a stockpile draw at the Cushing, Oklahoma. Brent crude rose by 32 cents, or 0.5 percent, to settle at $63.34 a barrel, after easing almost $1 earlier. WTI crude boosted 7 cents, or 0.1 percent, to close at $59.68 a barrel, as its front-month July contract expired.
read more... 23/06/2015
Daily: Crude oil declines by 2 percent on Greek fiscal crisis concerns
Crude oil decreased by about 2 percent on Friday, the first fall after three days of gains, as concerns about the Greek fiscal crisis, lower oil products prices and pre-weekend profit taking undermined the market. Brent crude declined by $1.24, or 1.9 percent, to close down for the first time since Monday at $63.02 a barrel. U.S. crude eased 84 cents, or 1.4 percent, to settle at $59.61.
read more... 22/06/2015
Daily: French prompt power prices jump on nuclear power plants outages
Crude oil prices diverged on Wednesday, with Brent crude increasing and WTI declining on Wednesday in agitating trading as both contracts slashed losses on uncertain outlook for interest rates by the Federal Reserve. Brent crude for August delivery boosted 17 cents to close at $63.87, having oscillating from $62.60 to $65.47 and ending back below its 50-day moving average of $64.16. U.S. crude for July delivery decreased by 5 cents to settle at $59.92, having fluctuated from $58.85 to $61.38.
read more... 18/06/2015
Daily: WTI crude oil edges up as Texas faces tropical storm
U.S. crude prices rallied on Tuesday as a tropical storm approached the oil-producing state of Texas, but global supply glut curbed gains and dragged down Brent futures. WTI crude for July delivery boosted 45 cents to close at $59.97 a barrel, having fluctuated from $59.42 to $60.37. Brent front-month August crude fell 25 cents to settle at $63.70, off its $64.41 intraday peak and below Brent's 50-day moving average of $64.01.
read more... 17/06/2015