By Maryelle Demongeot
SINGAPORE, Jan 19 (Reuters) - Oil fell almost 1 percent towards $36 a barrel on Monday in holiday-thinned trading, erasing some of the late gains made last week on short covering, with worries about weakening oil demand again at the forefront.
A ceasefire between Israeli forces and Hamas fighting in Gaza, together with [...]
LONDON (AFP) — Oil prices dropped some two dollars on Monday on concerns that a deepening global economic downturn could spark a slump in demand for energy, analysts said.
The market was also weighed down by news of a possible resolution to the ongoing Russia-Ukraine gas supply crisis, they added.
Traders also tracked developments in the Middle [...]
LONDON (Reuters) – Oil prices slipped below $41 a barrel on Friday as data showing a big rise in U.S. unemployment deepened gloom over the outlook for the world’s biggest oil consumer.
U.S. employers slashed payrolls by 524,000 in December, driving the national unemployment rate to its highest level in almost 16 years, a government report [...]
By GEORGE JAHN, Associated Press Writer
VIENNA, Austria – Worries about global economic growth and expectations of a weak U.S. jobs report pushed oil prices lower Friday, despite concern about fighting in Gaza and evidence that OPEC production cutbacks were taking hold.
Oil prices had risen earlier this week to above $48 from a five-year low [...]
NEW YORK (AFP) – Oil prices rose sharply Monday as the Israeli-Palestinian conflict intensified and major crude producer Iran said OPEC would hold a special meeting next month.
New York’s main contract, light sweet crude for February, shot up 2.47 dollars to close at 48.81 dollars a barrel.
Brent North Sea crude for delivery in February rallied [...]
By Jane Merriman
LONDON (Reuters) - Oil pared gains on Monday after a rise above $40 a barrel, in response to a weak dollar and Israeli attacks on Hamas that served as a reminder of tensions that could threaten Middle East crude oil supplies.
U.S. light, sweet crude was up $1.16 at $48.87 a barrel by 10:06 [...]
Sasol announced that it and Petronas of Malaysia have entered a strategic partnership covering an offshore hydrocarbon exploration program in Mozambique, where drilling commenced in early October. Sasol will continue as operator of the joint venture consortium.
In terms of the partnership agreement the equity split in Blocks 16 & 19 offshore Mozambique will be Sasol [...]
By Staff Reporter
Representatives from the Tanzanian government were noticeably absent this week at an international conference on biofuel production hosted in Dar es Salaam, and officials said it was because the government was not yet prepared to present its regulations for the biofuels industry.
The ministry of energy and minerals had originally agreed to [...]
By George Obulutsa
DAR ES SALAAM (Reuters) - Britain’s Sun Biofuels plans to grow about 5,500 hectares of the biofuel plant jatropha in Tanzania in the next 10 years, the firm’s local subsidiary said on Thursday.
Sun Biofuels Tanzania is in the final stages of acquiring 8,000 hectares of land west of the commercial capital Dar [...]
