Cairn India may be allowed to market the unallocated portion of the crude oil to be produced from its Rajasthan fields. For full story, click here
Articles Tagged "market"
The Asia-Pacific crude market surged on Friday after Indian Oil Corp bought a cargo of Kikeh crude for September loading, the first cargo of any Malaysian grades IOC has purchased via tender in four months. For full story, click here
Vietnam will halt term exports of its flagship Bach Ho crude next quarter as it diverts supplies to its first major refinery, further tightening the Asia-Pacific market. For full story, click here
U.S. Northeast refiner Sunoco Inc. declared that it sees a challenging market environment for the rest of 2009 due to a weaker economy. 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.
Fairborne Energy Ltd. declared that it will be presenting at the CIBC World Markets 2009 Energy Conference taking place April 20-21, 2009 in Toronto at the Le Meridien King Edward Hotel. Mr. Steven VanSickle, President and Chief Executive Officer, is scheduled to present at 4:35PM EDT on Monday, April 20, 2009. For full story, click [...]
Iran’s OPEC governor declared that the organization’s current crude oil production levels support the market due to members’ high compliance but changes in the global economic outlook may warrant further group action. For full story, click here
Oil rebounded from yesterday’s losses as gains in equity markets signaled that industrial output around the world may be restoring, drawing investors back to commodities such as crude. Robin Bieber, director of PVM Oil Associates Ltd., stated: At the moment oil is closely linked to activity in the stock market. For full story, click here
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 oil traded near the highest level in almost four months after the U.S. stock market rose, a sign that economic growth and fuel use in the world’s biggest energy-consuming country may rebound. David Moore, a commodity strategist at Commonwealth Bank of Australia Ltd. in Sydney, stated: There’s been a positive reaction in the equities [...]