Crude oil snapped four weeks of gains, trading little changed near $71 a barrel in New York, as fuel demand remained weak even as data showed that the international economy may be recovering from the slump. For full story, click here
Tuesday, May 5, 2009
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.
Continue reading "Crude oil headed for $71.55 a barrel"
Friday, April 24, 2009
Crude oil futures dipped this Friday in Asia as traders opted to take profit ahead of the weekend, with regional share markets largely directionless and fundamentals staying weak. David Moore, commodity strategist at Commonwealth Bank of Australia, stated: Oil consumption is likely to remain weak, a consequence of the global recession, limiting the upside to [...]
Continue reading "NYMEX Crude futures fell"
Wednesday, April 1, 2009
Crude oil surged, heading for its biggest monthly gain in almost a year, as equities rose and a weaker dollar enhanced the appeal of commodities. Jim Ritterbusch, president of Ritterbusch & Associates, stated: The fundamentals of the oil market have been shoved to the background as we focus on the stock and currency markets. For [...]
Continue reading "Crude oil set for biggest rise since May"
Monday, March 30, 2009
U.K. stocks dipped for a second day as the Obama administration warned some banks will need more government aid and weaker commodities prices pushed mining and crude oil shares lower. For full story, click here
Continue reading "U.K stocks dip for second day, crude oil shares fell"
Monday, March 16, 2009
US crude futures dropped below $47 a barrel on Tuesday, as news that U.S. credit card defaults were on the rise pushed down equities, suggesting persistant weak demand in the world’s largest energy consumer nation. For full story, click here
Continue reading "US crude futures dip below $47"
Monday, February 16, 2009
The oil price collapse has weakened the industry’s capacity to increase output and future production may top out at a lower level than earlier expected, the chief executive of major oil company Total said. For full story, click here
Continue reading "World oil production potential weakening: Total"
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Friday, June 19, 2009