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Daily: Oil losses ground again before OPEC meeting
Crude oil prices declined almost by 3 percent for a second consecutive day on Thursday ahead of an OPEC decision to maintain the market oversupplied and on concerns that spiking European bond yields could tighten the speculative money and depress oil. The highly expected OPEC meeting on Friday isn't expected to lead to easing of a glut of global-crude supplies or take into account the prospect of growing output from Iran. OPEC is expected to hold output target of 30 million barrels per day, ignoring calls from some producers to cut supply and support prices.
read more... 05/06/2015
Daily: Europe power forward prices diverge tracking volatile fuel price trends
Crude oil prices declined by about 3 percent on Wednesday as traders and investors ignored a fifth consecutive weekly fall in U.S. crude inventories to concentrate instead on a big increase in distillates, including diesel as the peak season for road travel is arriving. Brent crude fell $1.69, or 2.6 percent, to close at $63.80 a barrel. U.S. crude tumbled 2.6 percent, or $1.62, to close at $59.64.
read more... 04/06/2015
Daily: British gas prices increase on short system, weaker imports
Crude oil prices boosted on Tuesday, spurred by a weak dollar and expectations that U.S. crude supplies could have dropped last week for a fifth consecutive week. Brent crude oil rose by 61 cents, or 1 percent, to settle at $65.49 a barrel. U.S. crude inched $1.06 up, or 1.8 percent, to close at $61.26.
read more... 03/06/2015
Daily: Crude oil prices shed on robust production from OPEC, firmer dollar
Crude oil closed down as much as 1 percent on Monday, retiring from Friday’s hike on a strong dollar and worries over extremely high supplies from OPEC. The Organization of the Petroleum Exporting Countries pumped a record high of 31.22 million barrels of oil per day (bpd) in May and the group is expected the maintain its current production at its meeting on Friday. Brent crude oil futures declined by 68 cents, or 1 percent, to close at $64.88 a barrel. U.S. crude decreased just by a dime, ending at $60.20 a barrel, after slipped more than 1 percent with Brent earlier.
read more... 02/06/2015
Daily: UK gas prices tumble on supply glut
Crude oil prices rose by about 5 percent on Friday, their largest hike in 1-1/2 months, as a constant U.S. dollar and a bigger than expected decline in U.S. oil rigs in operation compensated a fresh rush of bullish bets. Brent crude closed at $65.56 a barrel, up $2.98, or 4.8 percent, on the day. It was flat on the week, while for the month, it declined by 2 percent. U.S. crude has increased by as much as $4 a barrel after touching a one-month low just a day ago. WTI crude closed at $60.30, up $2.62, or 4.5 percent, on the day, and up about 1 percent on both the week and month.
read more... 01/06/2015