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Daily: Crude oil plunges to multi-month lows on gasoline oversupply
Crude oil prices plunged, touching multi-month lows and heading for a sixth consecutive week of losses, mainly dragged down by the approaching end of the U.S. summer driving season which increased the surplus in gasoline supply. U.S gasoline inventories surpassed market estimates by about 300,000 barrels last week, pulling down global oil benchmark Brent to six-month lows and U.S. crude to a 4-1/2-month trough since Wednesday, according to government data. Brent declined by 91 cents, or 1.8 percent, to settle at $48.61 a barrel on Friday, after hitting a more than six-month low of $48.45. U.S. crude decreased by 79 cents, or 1.8 percent, to close at $43.87, after hitting a more than four-month session low of $43.80.
read more... 10/08/2015
Daily: Crude oil prices continue to decline below $45 a barrel on oversupply
Crude oil futures prolonged their decrease on Thursday as a continuous global oversupply, a dollar appreciation and worries about China’s economy continued to impact the market. Brent crude declined 7 cents, or 0.1%, to settle at $49.52 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures lost 49 cents, or 1.1%, to close at $44.66 a barrel, its weakest settlement price since March.
read more... 07/08/2015
Daily: British spot gas prices decline on higher imports from Norway, oversupplied system
Crude oil prices touched multi-months lows on Wednesday after an increase in gasoline inventories in the United States as the summer driving season approaches to the end. WTI crude futures slipped 59 cents, or 1.3 percent, to settle at $45.15 a barrel, hitting a bottom last recorded in March of $44.83. Futures of Brent lost 40 cents to close at $49.59 a barrel, after slipping to a January low of $49.02.
read more... 06/08/2015
Daily: Crude oil recovers from multi-month low on stock market growth in China
Crude oil prices rebounded from multi-month low on Tuesday, spurred by a stock market jump in China, but robust supply and a pessimistic demand outlook slashed the crude’s hike. Brent crude rose by 47 cents, or 1 percent, to settle at $49.99 a barrel. It hit a six-month low on Monday, coming within cents of its 2015 low of $49.19. WTI crude increased 57 cents, or 1.3 percent, to close at $45.74. It plummeted to a four-month bottom of $45.17 the previous session, about $3 from the year low.
read more... 05/08/2015
Egypt expected to purchase 7.79m tonnes of LNG this fiscal year
Egypt’s planning ministry unveiled it envisages importing 28.6 million tonnes of crude oil, liquefied natural gas (LNG) and other oil products worth a total of almost $16 billion in 2015-16.
read more... 04/08/2015