Business Times reported that the price of Brent crude rallied on Monday, climbing more than US$1 to over US$107. The rebound comes after oils biggest weekly fall in six months, following news of a restart of a key Libyan oilfield.
Articles Tagged "oil price"
MarketWatch reported that crude oil prices are down 3 percent, to $95.44, in New York.
Brent crude futures climbed to a one-week high on Monday after economic data hinted that November saw a growing manufacturing sector in China, Europe and the United States.
The Washington Post reported that oil prices fell below $93 on the back of disappointing economic reports from Europe and the U.S.
Crude oil dropped below $88 Wednesday after the International Monetary Fund on Tuesday lowered its outlook for world economic growth.
Reuters reported that Brent crude oil has further declined almost 3% and has inched closer to $100/barrel on Monday, extending a 2-week selloff that has cut almost 10% off prices.
Reuters reported that Brent crude settled down 39 cents per barrel at $110.69 while US crude settled slightly higher up to 12 cents at $97.19 per barrel as traders weigh concerns about demand as well as the possibility of a longer pipeline outage in the Midwest.
Bloomberg reported that West Texas Intermediate crude gained as US stocks surged after data showed factory orders in the US exceeded forecast, signaling positive economic growth and higher fuel demand.
On Economic Straight Talk, Arthur Berman talks about why the big oil companies are looking at shale plays in the US to replace their reserves. The article is quoted: Major oil companies exited onshore North America during the mid-1980′s to early 1990′s because of dwindling opportunities of sufficient size to meet the economic requirements of [...]
Bloomberg reported that after falling the most since November, Canadian stocks rose as energy producers rally on unexpected decline in US jobless claims which in turn increased the price of oil.