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Daily: European power curve down on higher temperatures
Brent crude futures increased above $109 a barrel on Friday on positive U.S. jobs data which raised hopes of a better outlook for demand in the world's top oil consumer, while increased concerns over supply from the Middle East added support.
read more... 15/03/2013
Daily: Brent and U.S. crude oil futures drop on increasing inventories
Brent crude oil futures declined on Wednesday on large volume of U.S. crude inventories, a stronger dollar and a forecast from IEA that oil demand is expected to ease. Meanwhile, Brent dropped by $1.13 a barrel to settle at $108.52, below its 200-day moving average of $109.37, a technical support level monitored by traders.
read more... 14/03/2013
OPEC to revise its oil demand forecast downward in 2013
Global oil demand growth could be revised slightly downward of forecasts in 2013, according to the Organization of the Petroleum Exporting Countries (OPEC), dragged down by economic uncertainty in the euro zone and United States, as well as U.S. supply will hit its highest level in three decades, slashing the need for oil from the 12-member producer group.
read more... 13/03/2013
Daily: UK gas remains high on extreme cold weather in Europe
Brent crude oil futures slipped on Tuesday after having fluctuated alongside euro and dollar and as OPEC has cut its forecast for U.S. and euro zone economic growth also added some pressure. Meanwhile, Brent for April delivery shed 57 cents, or 0.52 percent, to settle at $109.65 a barrel, having traded from $109.30 to $111.20.
read more... 13/03/2013
Daily: Brent crude drops on bearish data from China
Brent crude oil futures dropped on Monday, dragged down by pessimistic data from China, the second oil consumer in the world, however settling well above the session low. Brent crude for April delivery dropped 63 cents, or 0.57 percent, to settle at $110.22 a barrel, after having hit $110.72 and fallen to as low as $109.53.
read more... 12/03/2013