Futures Markets
Natural gas inventories rise, but so do prices
The US Energy Information Administration reported Thursday that US natural gas inventories grew by 35 billion cubic feet in the week ending May 11. This brought the amount of natural gas in storage to 1.84 trillion cubic feet in the lower 48 states, almost 21 percent above the five-year average. Still, it remains [...]
New Nigeria closure sends crude prices higher
Crude oil prices were higher on Tuesday after Nigerians occupied a Royal Dutch Shell (LSE: RDSA, RDSB; NYSE: RDS.A, RDS.B) pipeline hub, cutting 170,000 barrels per day of production. Around one-fifth of Nigeria’s oil output is now shut down due to continuing unrest there. In addition, the Organization of Petroleum Exporting Countries issued [...]
WTI slightly lower at mid-afternoon in New York
Oil prices were up early on Monday after the Organization of Petroleum Exporting Countries said it will leave current production quotas in place at least through June. The decision came even though the International Energy Agency said on Friday that the lower quotas could mean that supply will not keep up with demand through [...]
IEA questions OPEC’s statements on production
Oil prices were up slightly on Friday after the International Energy Agency issued a report that questioned the market’s ability to keep up with demand for oil products. In the report, the IEA said that the Organization of Petroleum Exporting Countries must increase output soon and criticized comments from OPEC officials that they do [...]
Bodman warns of record US gasoline prices to come
Crude oil prices were down on the session and over the week despite worries about supply during the summer driving season in the United States. US Energy Secretary Sam Bodman warned that gasoline prices are likely to reach record territory over the summer as gasoline stockpiles have dropped significantly and consistently over the past [...]
Crude oil prices down over $1 per barrel
Crude oil prices were lower on Wednesday after US inventories figures from the Energy Information Agency and even though US Energy Secretary Sam Bodman said he fears that gasoline prices would reach new record highs this summer. Crude oil stockpiles grew by 1.1 million barrels in the week ending April 27, while gasoline inventories [...]
Middle East events drive oil prices higher
Crude oil prices were up on Friday after security forces in Saudi Arabia arrested nearly 200 militants they said were planning to attack oil facilities there. Also sending prices higher was a new US intelligence estimate that says Iran will have bomb-grade nuclear material sooner than previously forecast. In addition, gasoline demand in [...]
Nigeria worries send crude oil prices higher
Crude oil prices were higher on Monday amid concerns that Nigerian oil supplies could be disrupted after the presidential election there. International elections monitors have called the election a failure, citing accusations of vote rigging and demands for new elections from opposition parties there. June contracts for Brent crude added 63 cents to [...]
IEA says OPEC has tightened supplies too much
Crude oil prices were up on Thursday as continuing refinery problems, including a new shutdown at a Citgo refinery in Louisiana, mean less gasoline available for drivers as the summer driving season nears in the United States. In addition, the International Energy Agency has said that the Organization of Petroleum Exporting Countries has tightened [...]
Brent crude trades above $68 per barrel
Oil prices were up on Friday as the standoff between Iran and the UK over the capture of 15 British sailors by Iran, which claims that the sailors were in Iranian waters, continues. The UK holds that the sailors were in Iraqi waters. Comments by British Prime Minister Tony Blair that warned Iran [...]
WTI trades above $65 per barrel
Crude oil was trading above $65 per barrel at midday in New York on Thursday, driven higher by continuing tensions between Iran and the west as well as by higher demand in the face of falling supply. Gasoline demand was at 9.2 million barrels last week, 1.6 percent higher than it was a the [...]
Sell your house fast
If you find yourself caught up in the property chain and you need to sell house fast, there are a number of property cash buyers on the UK housing market these days.
These are usually companies who specialise in being cash buyers for homes, and so can greatly accelerate the sale and purchase of a property [...]
WTI, Brent prices substantially higher
Crude oil prices were up substantially on Thursday as concerns persist that supplies will be tight for the summer driving season in the United States. Wednesday’s new figures on US inventories showed that stockpiles declined last week at twice the rate that had been expected. Gasoline in storage dropped 3.4 million barrels in [...]
Gasoline prices rise ahead of summer driving season
Just a day before spring begins in the Northern Hemisphere, crude oil prices rose on Monday in anticipation of the coming summer driving season in the United States. May contracts for Brent crude added 64 cents on the International Exchange at late afternoon in London, trading at $60.94 per barrel. West Texas Intermediate [...]
WTI up on day, down for week
Oil prices were up on Friday after OPEC agreed to keep oil production at current levels. Supplies are expected to continue to tighten as refinery utilization dropped to 85.6 last week, and the International Energy Agency said that OPEC supplies will need to go up later in the year to deal with increased demand.
Brent [...]
Crude oil prices up on IEA report on supplies
Crude oil prices were higher on a report from the International Energy Agency that said more crude oil supplies will be needed from member nations of the Organization of Petroleum Exporting Countries in the months to come. OPEC is scheduled to meet beginning Thursday in Vienna and while the cartel is not expected to [...]
Oil prices up on new predictions from EIA
Oil prices were slightly higher on Tuesday after significant declines on Monday. The gains came after the Energy Information Administration, part of the US Department of Energy, raised its estimates of how much West Texas Intermediate crude will cost this year. Last month, the EIA said that a barrel of WTI would cost [...]
Crude oil prices rise above $61 per barrel
The price of crude oil was up again on Friday. While April contracts for Brent crude closed 39 cents higher in London to $61.01 per barrel, West Texas Intermediate crude for April delivery had gained 29 cents to $61.24 per barrel in afternoon trade on the New York Mercantile Exchange after going as high [...]
WTI tops $60 per barrel
The price of some crude oil managed to surpass the $60 per barrel level on Wednesday afternoon after worries of supply shortages arose when two shutdowns were reported. A refined products pipeline carrying diesel fuel was closed in Indiana due to a leak, with no estimate of when it will be repaired and reopened. [...]
IEA oil demand growth estimates send crude prices higher
Oil prices were slightly higher on Tuesday the International Energy Agency increased its predictions of global growth of demand for oil this year. Previously, the IEA had said non-OPEC demand would grow by 3.2 percent, above its previous estimate of demand growth of 3 percent in 2007. Most of that growth, according to [...]