LONDON: Incremental oil supply from non-OPEC countries that is running short of expectations and a high level of supply outages are supporting oil prices despite slack global fuel demand growth, the International Energy Agency (IEA) said on (...)
LONDON: Europe's debt crisis and an oil price rally are the biggest threats to global oil demand this year, OPEC said on Friday, adding it was still pumping above its target despite a slide in Iranian production.
The Organization of the Petroleum (...)
LONDON: A jump in energy prices is jamming the slow-turning cogs of an economic recovery in the West, but that may be nothing compared to the economic shock an Israeli attack on Iran would cause.
Oil rose to a 10-month high above $125 a barrel on (...)
LONDON: Brent crude extended gains above $113 on Friday after data showed the US economy created jobs at the fastest pace in nine months in January, spurring hopes this could stimulate demand at the world's top consumer.
A warning by Iran's (...)
LONDON: Oil prices rose on Thursday on the back of a weaker dollar after the US Federal Reserve said it would keep interest rates low for longer than planned, although an increase in US weekly jobless claims capped gains.
Markets cheered the (...)
LONDON: Brent crude futures dropped in volatile trade on Friday as the euro fell amid ongoing worries about the euro zone, although the threat of supply disruptions in Nigeria lent some support to prices.
By 1147 GMT, Brent crude futures were 20 (...)
LONDON: Brent crude fell below $114 a barrel on Thursday as European data showed a sharp slowdown in manufacturing, raising fears of slower economic growth and a decline in fuel demand.
German manufacturing activity in August grew at its slowest (...)
LONDON: Oil prices are likely to stay above $100 a barrel next year despite increasing downward pressure from the expected return of some Libyan production and fears of a double-dip recession, a Reuters poll showed.
According to 29 analysts (...)
LONDON: Crude oil prices fell on Monday on growing fears of a sovereign debt default on either side of the Atlantic and on the possibility of another emergency stock release from the International Energy Agency (IEA).
By 1242 GMT, Brent crude (...)
LONDON: Brent crude futures fell by more than $2 a barrel on Monday to just above $116 as worries about the widening euro zone debt crisis and a drop in Chinese crude imports rekindled concerns about a demand slowdown.
After Friday's dismal US (...)
LONDON: Oil pared gains on Friday as weaker-than-expected US pending home sales data for April triggered fresh concerns about the pace of recovery by the world's largest energy consumer and after a softer dollar initially lent support to (...)
LONDON: Oil prices were little changed on Thursday, holding on to gains in the previous session on the back of weaker US stockpiles, as the International Energy Agency called for oil producers to protect the economy.
Oil had undergone a severe (...)
LONDON: Oil prices slipped on Wednesday ahead of the release of weekly US oil inventory data expecting to show an increase in crude stockpiles later in the day.
ICE Brent crude futures fell $1 to $121.45 a barrel. US light crude futures fell (...)
LONDON: High oil prices are beginning to cripple the global economic recovery and will lead to a reduction in oil demand later this year, the West's energy watchdog said on Tuesday.
The International Energy Agency (IEA) also said the global oil (...)
LONDON: Oil prices crept higher on Thursday, with all eyes on US weekly jobless numbers due later for clues about the potential size and pace of the US Federal Reserve's stimulus package expected next week.
By 0930 GMT, US crude for December (...)
LONDON: Oil prices slipped for a second day on Tuesday, falling towards $81 a barrel after Saudi Arabia signaled OPEC would maintain current production levels at the group's meeting and as the dollar rallied against the euro.
US crude for (...)