Brent crude ended lower on Thursday after figures indicated U.S. crude stockpiles soared to record highs eclipsed output freeze plans by top oil producers that had considerably increased the market this week. Brent crude fell 22 cents to settle at $34.28 a barrel, having boosted more than $1.20 before the data. U.S. crude rose slightly 11 cents to end at $30.77 a barrel, after an earlier peak at $31.98.
read more... 19/02/2016
Crude oil prices rebounded 7 percent on Wednesday after Iran announced it will support any effort to stabilize oil prices, including Russia- Saudi move to freeze production to deal with the market glut that dragged down prices to their weakest level in a dozen years. Brent rose by $2.32, or 7.2 percent, to settle at $34.50 a barrel. U.S. crude boosted $1.62, or 5.6 percent, to close at $30.66 a barrel.
read more... 18/02/2016
Brent oil lost almost 4 percent on Tuesday, slashing early gains after top producers Russia and Saudi Arabia agreed to freeze oil output at near-record levels, the first coordinated move by the world’s two largest producers to counter a decline that has hit economies, markets and companies. Brent fell $1.21 to settle at $32.18 a barrel, after increasing earlier to $35.55. U.S. crude declined 40 cents at $29.04, off the day's peak of $31.53.
read more... 17/02/2016
Crude oil prices edged higher on Monday, prolonging an increase triggered last week by hopes that OPEC might agree to slash output to reduce oversupply that has dragged down prices to their weakest level in a decade. Brent crude futures, the global benchmark, rose 21 cents at $33.57 a barrel at 14:28 GMT. U.S. futures stood at $29.68 a barrel, up 24 cents on Friday's settlement. Trade was thinner than usual on Monday due to the U.S. Presidents Day holiday.
read more... 16/02/2016
Iran has exported its first crude oil shipment to Europe since international sanctions ended, raising worries that more supplies will be added to the worldwide glut.
read more... 15/02/2016