China’s crude oil stocks were at record high levels at the end of May, but the gains narrowed compared with past months, as hefty oil imports were largely consumed because of refiners’ record operational levels. For full story, click here
Oil rose for a second day on Wednesday, after an industry group reported U.S. crude stockpiles dropped for the second week in a row and the dollar declined. Oil has climbed 34 percent this year, tracking global equity markets on optimism that an economic recovery will spur demand for fuel. Additional support for crude prices came from the dollar, which fell to the lowest level against the euro since March, bolstering demand for commodities as a hedge against inflation.
Profound Energy Inc. declared its operational and financial results for the year ended December 31, 2008. For full story, click here
Friday, July 3, 2009