Oil Has Biggest Weekly Decline in Three Months
Bloomberg reports that Oil fell, posting its biggest weekly loss in three months.
Articles Tagged "decline"
Crude Falls, Ending Streak, As Dollar Rebounds
The Wall Street Journal reports that Oil futures fell Tuesday, ending a six-day streak of higher prices as the dollar rebounded.
Crude oil headed for $71.55 a barrel
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.
Oil Price Peaks And Slides
Oil prices vaulted 9 per cent in NY Thursday, in tandem with a powerful stocks rally, as investors cheered G20 agreements to combat the global downturn and an easing of US accounting rules. On Friday, oil prices settled above $52 a barrel, slightly lower on the day after a report that US unemployment in March soared to a 25-year high. But optimism that the economy will soon turn around curtailed losses.
Crude refiners decline on weaker won
Shares in crude refiners fell across the board on Monday in Korea as the won hit a fresh 11-year low against the U.S. dollar. For full story, click here
Benchmark:South of US$60
It is obvious that a barrel price below $60 on the NYMEX is bad news for oil companies. Part of the drop reflects a strengthening American dollar, but recent demand forecast revisions are bleak. Governments, companies and investors think a prolonged recession or period of low growth is in the offing, and everyone should take note.
Oil Prices decline; US Inventories Stable
Oil prices are declining after the U.S. government said that the country’s inventory of crude oil is stable. For full story, click here
Benchmark: Things fall apart?
Along with OPEC production cuts and healthy company numbers, (both discussed below) the market is clearly disjointed. The tenor of discussions in the business pages and networks lately suggests that Yeats was right, and the centre cannot hold. Recession or recovery, echo boom or bust, few are predicting prolonged instability somewhere between these extremes.
OPEC weekly oil prices keep declining
Weekly average oil prices of the Organization of Petroleum Exporting Countries fell to $61.53/ barrel last week, the lowest price since the end of March 2007. For full story, click here
Oil declines, OPEC Cut Won’t Be Enough
Crude oil declined, heading for its 4th weekly fall, as OPEC’s decision to cut output by 1.5 million barrels a day failed to ease concerns fuel demand will slump. Mike Wittner, head of oil-market research at Societe Generale SA, said: The market expected a cut of 1 to 1.5 million barrels a day, and it got [...]
