LONDON: Oil markets will quietly swallow the loss of modest Syrian supplies if Europe joins Washington in slapping new sanctions on the country, but prices would spike if Syria's ally and major oil producer Iran becomes directly involved in a (...)
LONDON: Oil reversed early losses on Tuesday to rise above $75 a barrel as optimism about the economic recovery offset a report predicting oil demand growth will slow next year, leaving the market well supplied.
The International Energy Agency (...)
LONDON: Oil rose by one percent on Wednesday to move back above $76 a barrel, but was still headed for its first quarterly drop since 2008 as stresses in financial markets weighed on expectations about the pace of recovery.
Crude oil prices have (...)
LONDON: Oil prices rallied by 2 percent to $75 a barrel on Monday as renewed optimism about the global recovery boosted the outlook for fuel demand and sent Asian and European stock markets to their highest level in four weeks.
US crude for July (...)
LONDON: The oil market has no room for more crude supplies, OPEC said on Wednesday as it trimmed its forecast for world oil demand growth in 2010 and hiked its estimate for production from countries not in the group.
The monthly report from the (...)
LONDON: Oil prices pared early gains of nearly 2 percent on Thursday to pull back to near $73 a barrel, as traders waited to see if US government data would confirm an industry report showing falling crude stockpiles.
US crude prices for July (...)
LONDON: Oil rose by almost 3 percent on Wednesday to climb back above $70 a barrel after a US industry report showed a steep drop in gasoline stockpiles in the world's largest energy consumer.
Prices had slumped to lows near $67 a barrel at one (...)
LONDON: Oil prices were mixed on Thursday, with the benchmark US crude contract pressured below $75 a barrel by record stockpiles in the US Midwest, while London-Brent crude held above $81 a barrel.
The two-main benchmark contracts have diverged (...)
LONDON: OPEC raised its estimate for world oil demand growth in 2010 for a third successive month on Tuesday, but its figures showed economic recovery would not be sufficient to wipe out a surplus of supply this year.
The monthly report from the (...)
LONDON: Oil fell $3 on Wednesday to below $80 a barrel for the first time since March, taking the week's losses to 7.5 percent as the Greek debt crisis shook markets and rising U.S. crude stocks indicated soft demand.
Prices fell to a low of (...)
LONDON: Oil fell by more than $1 to near $74 a barrel on Friday after the outlook for energy demand was dented by China s surprise decision to tighten monetary policy for the second time this year.
China s central bank on Friday said it was (...)
LONDON: Oil fell towards $76 a barrel on Thursday as rising crude inventories in the United States signaled a rebound in US economic activity was failing to translate into higher demand.
US crude for March delivery declined 74 cents to $76.24 a (...)
LONDON: Oil prices steadied below $75 a barrel on Monday, after slipping towards a one-month low on continued market unease over possible tighter Chinese monetary policy and a US proposal to toughen bank trading rules.
Prices have fallen by (...)
LONDON: Oil fell to its lowest level this year on Wednesday, dipping below $80 a barrel after an industry report showed rising US distillate inventories, despite the severe northern hemisphere winter.
The American Petroleum Institute (API) said (...)
LONDON: OPEC slightly raised its forecast for world oil demand growth in 2010 ahead of the group s policy-setting meeting in Angola next week, but in a report on Tuesday said market fundamentals could be weak for the next two quarters.
The (...)
LONDON: Oil fell more than 3 percent to below $69 a barrel on Friday after worse-than-expected US employment figures raised doubts about the strength of the economic recovery in the world s largest energy consumer.
The US Labor Department said (...)