Mexico expects its basket of crude oil exports, a key source of government revenue, to fetch around $53 per barrel in 2010. For full story, click here
Articles Tagged "barrel"
OPEC’s income from oil and gas exports jumped 35 percent to more than $1 trillion last year as world oil prices hit record highs of almost $150 per barrel. For full story, click here
U.S. crude prices have shot above the key 200-day moving average on Wednesday for the first time in more than eight months, adding to some analysts’ convictions that oil has found a new price floor at $60 a barrel. For full story, click here
Crude oil fell on Tuesday, snapping four days of gains, on concern a U.S. government report will show stockpiles climbed from the highest level since September 1990. Crude oil for June delivery declined as much as 77 cents, or 1.4 per cent, to $53.70 a barrel in electronic trading on the New York Mercantile Exchange. Oil is up 21 per cent this year.
Bellwether U.S. crude oil futures rose above the psychologically important $50-a-barrel mark Thursday in Asia as firmer regional equity markets encouraged traders to cover short positions, although sentiment remained cautious in the wake of weekly U.S. government data showing oil inventories still bloated. Jim Ritterbusch, president at trading advisory firm Ritterbusch and Associates, stated: We [...]
Crude oil dipped again on Monday amid demand worries with stock markets in the red. The drop took prices towards the $50 per barrel mark again. For full story, click here
Rising by nearly three dollars, the price for oil produced by the Organisation of the Petroleum Exporting Countries ended the day at $50 a barrel. For full story, click here
The market in Toronto jumped significantly, in part due to the merger announcement between Suncorp (TSE:SU) and Petro-Canada (TSE:PCA). Petro-Canada was up 20 per cent at the end of the day and many of the other Canadian oil patch companies rose along with it. EnCana (TSE:ECA), Canadian Natural Resources (TSE:CNQ) and Talisman Energy (TSE:TLM) all closed up significantly.
After falling from $147 to $35 per barrel towards the end of last year, crude oil has once again gained and touched $45 per barrel on speculation that China's stimulus plan may spur demand for the commodity near term. However, some experts are of the view that this is not just speculation but real purchases driving the prices up.
The jump was all too clear. A surprise drop in U.S. oil inventories caused crude prices to jump 14 per cent on Thursday, in New York, powering a broad commodities rally that pushed copper and corn higher. The only noticeable drop was in gold, which closed lower for the first time in three days.