Bloomberg reported that Brent crude fell below $100 a barrel, its lowest since July, as signs of weak economic growth have lowered demand.
Articles Tagged "oil prices"
Reuters reported that oil prices dipped 3%, its lowest daily drop in 5 months, as crude inventories in the US reach their highest levels since 1990 according to the EIA.
Bloomberg reported that West Texas Intermediate oil dropped for the fourth time in 5 days after data showed an increase in US inventories, higher than last week’s forecast.
Reuters reported that the United States’ oil consumption dropped unexpectedly in December, which pulled down the total annual demand last year at lowest level since 1996, according to the Energy Information Administration.
Reuters reported that the prices of oil went up 80 cents as traders grew bullish on high U.S. stock markets.
Bloomberg reported that International Energy Agency’s chief economist, Fatih Birol, said the prices of oil are harming Europe, which will need to spend 500 billion euros on oil imports this year, over 200 billion euros more than average.
Reuters reported that the prices of oil went up on heightened concerns on gasoline supply which rose 2% in the United States.
Oil bounced back as an Energy Information Administration report showed a dip in inventories at Cushing, Oklahoma, the delivery point for West Texas Intermediate crude traded in New York
Bloomberg reported that oil traded close to its peak level in four months on signs of U.S. economic growth and as OPEC Secretary General Abdalla El-Badri announced that oil prices will likely not drop this year.
Reuters reported that oil prices went down Friday, exacerbated by a drop in gasoline futures on talks that a large number of European gasoline is headed to the New York Harbor.