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Daily: Oil retreats from 2015 high on dollar appreciation, record exports from Iraq
Crude oil prices retreated from 2015 highs on Friday after posting their largest monthly gains for six years in April as Iraq announced its oil exports hit a record in April and amid pressure from a dollar appreciation. Brent crude for June delivery dropped by 32 cents to settle at $66.46 a barrel. However, it posted a 21% increase in April. U.S. June crude eased 48 cents to close at $59.15, after recording a 2015 high of $59.90 and recovering from a $58.32 intraday low. U.S. crude futures boosted 25% last month. Both Brent and WTI crude traded thin as major markets were closed for the May Day holiday.
read more... 04/05/2015
Daily: Crude oil prices rocket at 2015 highs on smaller inventories in the US
Crude oil prices rocketed at the highest level this year on smaller-than-expected rise last week in crude stockpiles throughout the United States indicating that the oil glut will start to lessen. U.S. crude futures are expected to settle April up nearly 23 percent and Brent almost 20 percent higher, the largest monthly gains since May 2009 when the global economy was starting to pick up from the financial collapse. Brent crude rallied $1.20 to settle at $65.84 after hitting its year high at $66.72. U.S. crude futures rose by $1.52 at $58.58 a barrel, after reaching a 2015 peak of $59.33.
read more... 30/04/2015
Daily: Crude oil prices under pressure on concerns about record high in U.S. crude stockpiles
Crude oil prices were under pressure on Tuesday, with Brent ending lower and U.S. crude near flat, as concerns about a record high in U.S. crude stockpiles slashed gains from an early increase on security worries in the Middle East and a weak dollar. Brent crude declined by 19 cents, or 0.3 percent, to close at $64.64 a barrel, after soaring to as high as $65.49. WTI crude rose by 7 cents at $57.06, after trading to as high as $57.83.
read more... 29/04/2015
Daily: European prompt power prices firmed on forecasts for colder weather
Crude oil ended lower on Monday as robust supply compensated support from the conflict in Yemen and the declining number of U.S. rigs drilling for oil made traders hesitant after prices reached 2015 peaks last week. Brent crude for June delivery dropped 45 cents to close at $64.83 a barrel, having oscillated from $64.40 to $65.61. European benchmark hit the highest level in 2015 at $65.80 on Friday. WTI crude eased 16 cents to settle at $56.99, having fluctuated from $56.52 to $57.89. It hit a 2015 peak of $58.41 last Thursday.
read more... 28/04/2015
Daily: Crude oil futures mixed amid lower drilling activity in the US and Yemen conflict
Crude oil futures were mixed on Friday amid declining US drilling activity and as the continuing turmoil in Yemen intensified concerns about eventual supply disruptions in the Middle East. Brent crude for June delivery increased by 43 cents, or 0.7%, to settle at $65.28 a barrel on 24 April, trading at its highest levels since December 2014. WTI crude for June delivery decreased 59 cents, or 1%, to close at $57.15 a barrel on 24 April.
read more... 27/04/2015