Political Undertones Fuelling Emergency Crude Stockpile Debate
As more countries look to tap emergency crude reserves in an attempt to quell soaring fuel prices, many are questioning the real motives behind the move.
Articles Tagged "international energy agency"
Oil Has Biggest Weekly Decline in Three Months
Bloomberg reports that Oil fell, posting its biggest weekly loss in three months.
Oil Prices Climb on Supply Concerns and Bernanke Comments
Oil prices gained as much as 1 percent with analysts offering further support; expecting a decline of 1 million barrels of U.S. oil supplies from 363.2 million last week. Oil inventories have not fallen nationwide for two consecutive weeks since January.
Normalcy Trends Chase Higher Oil
Oil levels were nearing levels that would likely prompt an increase in supply from the OPEC. Such an action would likely cause oil prices to drop. Furthermore, evidence of a bottoming out of the recession is still a bit patchy. The latest data on industrial production for some of the larger countries continues to remain negative.
Wall Street Loves Oil
Crude prices in Asia slipped Friday on a stronger U.S. dollar and as traders sold off bets to lock in profits, but the overall rally is expected to continue on hopes that data on the global economy will stay bullish. Crude prices are down, but after we wake up tomorrow morning, they may hit $73 a barrel, traders said.
