Futures Markets
Oil prices higher
Crude oil prices were up on Tuesday in late afternoon trade in London. April contract Brent crude on the International Petroleum Exchange was up 53 cents to $61.52 per barrel, while West Texas Intermediate crude for April deliver added 25 cents in early afternoon trade on the New York Mercantile Exchange, to $61.25 per […]
Crude prices down on easing fears
Crude oil prices fell on Monday as investor concern faded over an attempted attack on a Saudi Arabian oil processing facility on Friday. The Saudi oil minister said that the incident did not impact oil and gas production, and it was reported that on Sunday, Saudi forces killed five individuals linked to the attempt.
West […]
Crude prices jump on new security concerns
Crude oil prices were up on Friday as an attack on a Saudi Arabian oil facility increased concerns already high due to security problems in Nigeria and Iraq.
April contract Brent crude prices on the International Petroleum Exchange were up $1.78 to $62.32 per barrel, 70 cents of that increase coming after reports of the Saudi […]
Crude oil prices mixed ahead of inventories report
Crude oil prices were mixed on Thursday as analysts and traders waited for the weekly report of US inventories to be released. While April contract Brent crude on the International Petroleum Exchange was up 17 cents to $60.61 per barrel, West Texas Intermediate crude on the New York Mercantile Exchange had lost 11 cents […]
Brent crude up on Nigerian troubles
Attacks against oil production and distribution installations in Nigeria sent crude oil prices up in London on Monday. The attacks, which included the kidnapping of nine oil workers led to a cut in Nigerian oil exports of 25 percent. Nigeria, a member of the Organization of Oil Producing Countries, is the world’s eighth […]
Crude prices rise after early-week declines
In the oil sector, political worries and concerns about small amounts of spare production capacity sent crude oil prices up on Thursday and Friday after it had reached an eight-week low of $58 per barrel on Wednesday. West Texas Intermediate gained 74 cents to $59.20 per barrel on Friday but fell 4.3 percent over […]
US crude oil inventories up
The weekly inventories report from the US Energy Information Administration, released on Wednesday, showed that inventories of crude oil, gasoline, and distillates such as heating oil had risen much more than had been anticipated by analysts.
Crude oil stockpiles were up by 4.9 million barrels in the week ending February 10, when they had been expected […]
Crude oil lower; natural gas, heating oil up
Crude oil prices fell on Mondy despite cold weather and heavy snowfall in the northeast US over the weekend, a reflection of the mild winter overall and its resulting lower than usual demand for heating oil. Brent March contracts, which expired at the end of the trading day, lost 10 cents to $59.54 per […]
Oil prices steady on lower demand forecast
Crude oil prices moved little in early trade on Friday following a new estimate that cut estimated demand growth overall in 2006 but left estimates of oil supplies available this year from Organization of Oil Exporting Countries at previous levels.
The Paris-based International Energy Agency lowered its estimate of global oil demand growth this year from […]
Oil rebounds after inventories report
Oil prices rebounded from Wednesday’s losses. March contracts for West Texas Intermediate crude were up 24 cents to $62.79 per barrel in electronic trading on the New York Mercantile Exchange after a drop of 54 cents on Wednesday. Meanwhile, in late morning trade in London Brent March contracts on the International Petroleum Exchange […]
Oil prices stage retreat
Worries over Iran’s nuclear ambitions were overshadowed on Tuesday by a forecast that US petroleum stockpiles will be up when weekly reports come out on Wednesday. A poll of energy analysts conducted by Reuters showed that the analysts expect that US gasoline inventories will grow by 1.6 million barrels and that crude oil stockpiles […]
Oil higher on political concerns
Crude oil prices were up again on Monday as the conflict with Iran over the Middle Eastern nation’s nuclear activity grew. Over the weekend, Iran announced that it will discontinue its allowance of surprise United Nations inspection of its nuclear facilities and that it will renew all aspects of its nuclear program.
IPE Brent crude […]