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Daily: British gas drops by 4 pct on oversupplied market
Crude oil prices on both sides of the Atlantic rose on Tuesday as geopolitical risk returned into the markets, even as the dollar index turned positive after a mid-morning phone call between U.S. President Barack Obama and U.S. House Speaker John Boehner over the budget crisis. Meanwhile, Brent increased by 48 cents to settle at $110.16 a barrel, after earlier recording gains of over $1. U.S. oil traded 46 cents higher to $103.49, after earlier gaining over $1.
read more... 09/10/2013
Daily: Crude oil prices pare losses after pipeline resumes activity
Crude oil prices on both sides of Atlantic pared losses on Monday as operations of the Seaway oil pipeline delivering crude oil from Cushing, Oklahoma to Gulf Coast refineries, resumed after a short shutdown. Cushing represents the delivery point for the U.S. oil futures contract. Meanwhile, U.S. crude oil dropped by 81 cents to settle at $103.03 a barrel, after trading close to $2 a barrel lower at $101.86 earlier in the session. The contract dipped below the 100-day moving average of $102.45. Brent crude futures pared earlier losses to settle 22 cents higher at $109.68 per barrel, after earlier trading as low as $107.89.
read more... 08/10/2013
Daily: Crude oil prices register modest gains on US budget impasse
Crude oil prices registered modest gains on Friday, as the budget impasse in the United States continued and uncertainty about when it would finish grasped the market. World leaders and analysts fear the government shutdown would hurt economic growth and slash oil demand in the Unites States.
read more... 07/10/2013
The U.S to become the world’s largest producer of oil and gas
According to a Wall Street Journal analysis, the United States will become the world's largest producer of oil and natural gas by the end of 2017 surpassing Russia. This could happen thanks to a boost in US fuel production determined by technology which will allow energy companies to tap into oil and gas in underground shale rock formations.
read more... 04/10/2013
Daily: British gas declines on low demand, ample flows
Brent crude futures posted a slide below $109 a barrel on Thursday, following the biggest gain in two weeks in the last session, dragged down by concerns over a prolonged U.S. government shutdown would hit demand in the United States. Meanwhile, Brent crude decreased by 28 cents to $108.91 by 02:47 GMT, after settling $1.25 higher and U.S. oil dropped by 41 cents to $103.69, after ending $2.06 higher.
read more... 04/10/2013