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Daily: European power prices rally after “positive” EU carbon vote
Brent crude futures soared 5 percent on Wednesday, after Saudi Arabia’s oil minister said oil demand was increasing and figures showed Chinese factories were producing more than projected. Brent crude for April delivery boosted $2.97 to settle at $61.63 a barrel. WTI April crude climbed $1.71 to close at $50.99.
read more... 26/02/2015
Daily: European power prices climb ahead of EU crucial carbon vote
Crude oil futures dropped on Tuesday on expectations that U.S. crude stockpiles boosted again countered supportive news of Libyan oil fields being closed by a power cut. Brent crude for April delivery eased 24 cents to close at $58.66 a barrel, after hitting $60.30. U.S. crude for April delivery dropped 17 cents to settle at $49.28, off a $50.33 intraday peak.
read more... 25/02/2015
Daily: European spot power prices ease on supply pressure
Crude oil prices were mixed on Friday as the number of U.S. rigs drilling for oil dropped more than expected, while heating oil boosted 6 percent on a cold snap that shrunk output at three refineries. The front-month Brent rose just by penny to settle at $60.22, after plunging to a week low of $57.80 on Thursday. WTI's March futures declined 82 cents to close at $50.34 a barrel, expiring as the front-month contract.
read more... 23/02/2015
Daily: Brent crude hits the 2015 peak at $63 a barrel
Crude oil settled up on Tuesday, prolonging earlier gains from this week, with Brent crude soaring to a 2015 peak of $63 a barrel as a short-covering came back to a market depressed earlier by concerns over euro zone stability. Risks to Middle East crude production and the decline of U.S. oil rig count added further spur to the market. Brent oil's front-month contract for April delivery rose by $1.13 to settle at $62.53 a barrel, recovering from the day's low of $60.27. The session peak of $63 was the highest level since December 18. WTI price for March climbed 75 cents to close at $53.53, against an intraday low at $50.81.
read more... 18/02/2015
Daily: European spot power prices jump on cold spell, weaker wind supply in Europe
Crude oil prices were little changed on Monday after hitting the highest level since nearly two months, as the dollar appreciation following the collapse of Greek debt negotiations helped to offset intensifying violence in Libya and worries about exports from Kurdistan. Brent futures fell 3 cents to hit $61.49 a barrel by 3 p.m. EST after touching an intra-day peak of $62.57 a barrel. U.S. March crude futures were flat at $52.78 a barrel. There was no settlement on Monday due to a U.S. public holiday, with Monday’s activity to be registered on Tuesday.
read more... 17/02/2015