LONDON (AFP) – World oil prices fell under 60 dollars per barrel on Tuesday, pressured by the strengthening US currency and weaker European equities, as traders awaited this week’s crucial OPEC output meeting.
New York’s main futures contract, light sweet crude for delivery in July, retreated 1.88 dollars to 59.79 dollars a barrel.
London’s Brent North Sea [...]
By Rania El Gamal and Silvia Aloisi
ROME, May 24 (Reuters) - Energy leaders on Sunday debated what oil price would spur investment in the sector without hurting a wider global economic recovery, as top producer Saudi Arabia forecast prices eventually moving towards $75 a barrel.
The Group of Eight energy ministers are meeting in Rome [...]
With oil prices at a six-month high and gasoline prices not far behind, energy traders are pointing a finger at rising violence in Nigeria’s ethnically driven civil war.
A wave of attacks on oil wells, platforms and pipelines by rebels in Nigeria’s Niger Delta has left the country’s output at about half its maximum level of [...]
LONDON (AFP) – Oil prices rose on Friday on signs of increasing energy demand in the United States, traders said, as the market focus began switching to a meeting of the OPEC cartel next week.
New York’s main futures contract, light sweet crude for delivery in July, climbed 45 cents to 61.50 dollars a barrel.
Brent North [...]
Crude oil prices yesterday rose to more than $60 a barrel, their highest level in six months, on hopes that the world economy would soon bounce back and demand for oil may recover.
But Nigeria is in early talks with the World Bank to secure a loan to help finance its budget deficit caused by the [...]
NEW YORK (AP) — Energy prices wavered after OPEC reported that member states had increased oil production for the first time since July despite a huge glut in supply.
Benchmark crude for June delivery rose 22 cents to $59.07 a barrel Wednesay on the New York Mercantile Exchange. In London, Brent prices dropped 13 cents to [...]
NEW YORK (AP) — Oil prices hit news highs for the year Thursday after a decision by the Federal Reserve to spend billions snapping up U.S. bonds sent the dollar tumbling.
Oil is priced in dollars and when the U.S. currency weakens, it essentially makes crude cheaper.
Benchmark crude for April delivery surged $3.39 to $51.53 a [...]
By Henrique Almeida
VIENNA (Reuters) - OPEC’s Angolan president said on Sunday the group’s existing supply curbs had brought some stability to the market, although prices remained too low to encourage investment in new supplies.
The Organization of the Petroleum Exporting Countries decided earlier on Sunday to leave formal output targets unchanged and step up adherence to [...]
VIENNA, Jan 13 (KUNA) — The price of OPEC basket of 12 crudes on Monday lost USD 1.67 to settle at USD 40.24 per barrel compared with USD 41.94 on Friday.
The annual average of the basket price for 2008 stands at USD 94.45 per barrel, according to the daily bulletin issued by the global [...]
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 [...]
