Articles Tagged "New York"

Oil gains in New York on demand concerns

Crude oil pared gains in New York due to concerns that global demand for fuel will slow as the U.S. and Europe.is likely to enter a recession phase. Russell Norton, head of commodity sales at Barclays Capital, said: The demand question is the current focus of the market. We’ve seen demand come off in the OECD countries [...]

Oil declined Below $90 for 1st Time in 8 Months

Oil declined as much as 5.1 percent as European leaders pledged to bail out troubled banks and protect depositors. Christopher Bellew of Bache Commodities said: With the stream of economic distress signals continuing unabated the oil market is betting that demand will really suffer. For full story, click here