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IEA: global oil demand growth to slow in 2014
In its most recent Oil Market Report, the IEA has reduced its 2014 growth estimates for oil demand by 100,000 barrels per day, down to 1.1 million barrels per day, due to weaker than expected economic growth.
read more... 12/08/2013
Daily: U.S. crude oil up on supply disruption concerns
U.S. crude oil futures ended considerably higher on Friday, reversing five days of losses in the largest one-day percentage gain in a week following signs of increasing Chinese demand and concerns about supply disruptions in the North Sea and the Middle East. Brent crude recovered from closing at its lowest level in more than a month in the previous session, but the trading was more active in the New York market.
read more... 12/08/2013
IEA: Coal demand will continue to grow in the next years to come
According to a new report recently released by the International Energy Agency (IEA) coal could become the world's top energy source by 2017 along with oil. The IEA expects an increase in coal demand all over the world except the US, where natural gas is replacing the black mineral as feedstock for the production of electricity.
read more... 09/08/2013
Daily: Crude oil dips for 5th consecutive session
U.S. crude oil dipped for a fifth consecutive session on Thursday as speculative funds and traders held a record net long position, triggering a drastic price reversal late in the day.
read more... 09/08/2013
Daily: Crude oil slips on Iran’s president nuclear talks
Crude oil dropped around $1 a barrel on Tuesday on Iran’s new president initiative to negotiate with West over Tehran’s controversial nuclear program and following a slide of U.S. gasoline prices dragged down by a sell-off in ethanol credits. Meanwhile, U.S. oil declined $1.26 to settle at $105.30 per barrel, hitting a session low of $104.86 a barrel. Brent crude slipped 52 cents to close at $108.18 per barrel, having fallen to a low of $107.46.
read more... 07/08/2013