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: Libya has agreed to supply oil to four major European trading houses in 2012, a senior National Oil Corporation (NOC) source said, amounting to at least 9 percent of its crude exports, in a break from a policy of restricting sales to (...)
LONDON: Yemen is seeking to import four cargoes of gasoline in January via a tender, traders said on Friday.
The country's largest refinery was forced to stop production in mid-November after a pipeline attack cut off its crude oil (...)
DUBAI/LONDON: Pipeline bombings by Islamist groups have cut off Israeli gas supplies from Egypt, forcing the Jewish state to seek up to one million tons of gasoil on the international market to secure its national energy needs for 2012.
Flows (...)
LONDON: Oil prices fell by more than $5 a barrel on Thursday with US futures touching $80.25 a barrel, as a combination of dismal signals heightened worries about global economic growth and a rallying US dollar added to downward (...)
LONDON: Oil prices hovered near $109 a barrel on Wednesday as supply disruptions balanced against demand worries, and caution stalled investors ahead of US Federal Reserve chairman Ben Bernanke's speech at the end of the week.
Bernanke is (...)
LONDON: Brent crude slipped below $115 a barrel on Monday as concern about demand ahead of a key OPEC meeting later this week weighed on the market.
Signs that high prices are destroying demand in the West, confirmed by the worst US jobs report (...)
LONDON: Brent crude oil futures fell below $120 on Tuesday for the first time in two weeks, pressured by concern over the economic outlook and the risk that high prices could erode demand.
By 1318 GMT, Brent crude was trading $2.20 lower at (...)
LONDON: Oil prices fell on Tuesday but held near 2-1/2 year highs, with Brent remaining close to $121 a barrel on unrest in oil exporting countries in the Middle East and Africa.
A Western air strike destroyed two of Muammar Gaddafi's military (...)
LONDON: Oil prices rose on Wednesday as overnight rioting in Libya added to concerns that an Egypt-style revolt could spread to oil-producing countries in the Middle East.
The latest outbreak of violence in the region drove oil markets higher on (...)