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
Continue reading "Mexico has seen Its Crude at $53 per barrel in 2010"
Thursday, July 9, 2009
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
Continue reading "OPEC Oil, Natural Gas Income has topped $1trillion, reserves surge"
Tuesday, May 26, 2009
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
Continue reading "U.S Crude prices have shot above 200-day moving averages"
Tuesday, May 5, 2009
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.
Continue reading "Crude oil headed for $71.55 a barrel"
Thursday, April 9, 2009
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 [...]
Continue reading "NYMEX Crude rose above $50 on equities"
Monday, April 6, 2009
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
Continue reading "Crude oil dips nearly 30%"
Friday, April 3, 2009
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
Continue reading "OPEC oil price surged to $50 a barrel"
Monday, March 23, 2009
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.
Continue reading "Canadian Merger as Crude breaches $51 per barrel"
Monday, March 9, 2009
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.
Continue reading "The relation between gold price and oil price"
Friday, February 20, 2009
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.
Continue reading "Demand Set To Recover Soon?"
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Wednesday, August 12, 2009