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Daily: POKEMON GO could lead to increased oil demand
Crude oil prices lost ground on Monday, down over 1 percent after increasing inventories of crude and refined fuel intensified concerns about another oversupply. An attempted coup in Turkey has only briefly supported the market. The application Pokemon GO is the potential for a substantial increase in car use which could lead to higher oil consumption to the level of hundreds of thousands of barrels a day.
read more... 19/07/2016
Daily: Crude oil prices slightly up on improved demand perspectives
Crude oil prices boosted modestly on Friday, ending the week higher, after figures from top energy consumers the United States and China spurred the oil demand outlook. Brent crude futures rose 24 cents, or 0.5 percent, to close at $47.61. It eased as much as 1.5 percent earlier to a session low of $46.65 and boosted as high as $48.05. U.S. West Texas Intermediate (WTI) futures increased 27 cents, or 0.6 percent, to close at $45.95 a barrel. The intraday low was $45.05 and it attained a peak of $46.31 during the session.
read more... 18/07/2016
Daily: Crude oil prices decline 4% on U.S. pessimistic inventory data feeding glut
Crude oil prices declined over 4 percent on Wednesday, slashing most of the previous session’s gains, as a set of downbeat U.S. stockpiles data spurred fears about a global oversupply. U.S. crude inventories dropped less than expected last week, according to the Energy Information Administration (EIA). Brent crude lost $2.21, or 4.6 percent, to settle at $46.26 a barrel. U.S. crude eased $2.05, or 4.4 percent, to end at $44.75.
read more... 14/07/2016
Daily: European spot power prices climb on weak wind supply outlook
Crude oil prices hiked 5 percent on Tuesday, the largest daily gain since April, as investors’ covering of short positions and a technical recovery helped to rebound the market from two-month lows. U.S. crude's West Texas Intermediate (WTI) futures rose $2.04, or 4.6 percent, to settle at $46.80 a barrel. Brent crude futures increased $2.22, or 4.8 percent, to close at $48.47.
read more... 13/07/2016
Daily: Crude oil prices plunge at the lowest level in two-months on OPEC production rally
Crude oil prices plunged at their lowest level in two months on Monday after a study unveiled that crude oil output from the Organization of the Petroleum Exporting Countries has attained the highest level since August 2008 at 32.73 million barrels a day. West Texas Intermediate crude for August delivery lost 65 cents, or 1.4%, to settle at $44.76 a barrel on the New York Mercantile Exchange.The global benchmark Brent crude for September delivery declined 51 cents, or 1.1%, to end at $46.25 a barrel on the ICE Futures exchange in London.
read more... 12/07/2016