Latest news
Daily: Crude oil recovers on decrease in crude inventories in the United States
Global oil prices surged by as much as 6 percent on Wednesday after weekly oil figures showed a decrease in crude inventories at Cushing, taking traders and analysts by surprise. Brent crude for February delivery increased by $1.17, or 2 percent, to settle at $61.18 a barrel. It jumped by as much as $3.39, or 5.6 percent, during the session. U.S. crude's front-month contract rose by 54 cents, or 1 percent, at $56.47 after mounting earlier to $58.98. Further after the settlement, the market pared gains, plunging into negative territory.
read more... 18/12/2014
Daily: European spot power prices drop on robust wind power supply, tightening demand
Brent crude futures declined for a fifth consecutive day on Tuesday to close below $60 a barrel, while WTI crude ended a volatile session slightly higher as trading of expiring options helped defend the price above $55. Brent crude for January delivery slipped $1.20, or nearly 2 percent, to settle at $59.86 a barrel. The contract has lost more than 10 percent in five days of trading. U.S. crude's front-month rose 2 cents to close at $55.93 a barrel. Its session low of $53.60 was the lowest since May 2009.
read more... 17/12/2014
Daily: Crude oil prices to a fresh five-year low on OPEC determination not to curb output
Brent crude oil reached a new five-year low close to $60 a barrel on Monday on OPEC’s decision not to curb output despite fears of a global oversupply. Brent for January delivery plunged to a low of $60.28 a barrel in Asian trade, down $1.57 and its weakest level since July 2009. The futures contract then rocketed to trade around $62.20 by 14:50 GMT, up 35 cents from Friday's settlement. WTI for January delivery settled at $57.50 a barrel, down 31 cents, after hitting a low of $56.25 earlier in the day - its lowest level since May 2009.
read more... 16/12/2014
Daily: Crude oil prices tumbled 3% to five-year lows on IEA pessimistic forecasts
Crude oil markets declined 3 percent or more to tumble to a fresh five-year low on Friday on IEA’s forecast for even weaker oil prices, lower demand and robust supply in 2015. Benchmark Brent oil ended at below $62 a barrel and U.S. crude tumbled to under $58 to prolong Thursday’s decline below $60. Brent decreased $1.83, or nearly 3 percent, at $61.85 per barrel. It slumped to $61.35 during the session, the weakest level since July 2009. WTI crude slipped $2.14, or 3.6 percent, to close at $57.81. It dropped earlier to $57.34, its lowest since May 2009.
read more... 15/12/2014
***Breaking news***: U.S. oil prices crash below $60 for the first time since July 2009
U.S. crude prices plunged below $60 a barrel for the first time in five years, breaking through a key psychological and prompting new selling. Prices have plummeted on OPEC producers’ cartel statements that the supply glut is likely to continue in 2015 and the demand would be the weakest in a decade, dragging prices down even further. The global oversupply is driven partly by rocketing production from the U.S. shale basins. Nymex January West Texas Intermediate, the US oil benchmark, sank 99 cents or 1.6% to settle at $59.95 a barrel on Thursday. Meanwhile, front-month Brent, the international crude benchmark, declined by 56 cents to close at $63.68 a barrel.
read more... 12/12/2014