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Oil prices steadied at $76 a barrel in trading on Monday, as worries about Dubai’s debt crisis and its impact on the world economic recovery returned to haunt investors.
Separately, Iran announced plans on Sunday to build 10 new uranium enrichment plants in a major expansion of its atomic program, just two days after the UN [...]
Brent crude oil price gained 46 cents to $77.64 on the ICE Futures exchange in early trading on Monday after the United Arab Emirates central bank said it would back the Dubai’s lenders from a possible default by Dubai World, easing concerns of an economic slowdown.
Oil prices gained as much as 1.1 percent today after [...]
Light oil prices rebounded to near $77 a barrel in early Asia trading Monday as panic about a global fallout from Dubai’s debt problems ease. Benchmark Light crude oil futues for January delivery rose 63 cents to $76.68 at midday Singapore time in electronic trading on the NYMEX, Light oil prices ended last week’s trading [...]
A group of oil companies is to cash in on rising fuel prices by floating on the UK London Stock Exchange for 2010 in deals that will value them at more than £1.2 billion.
At least five oil and gas groups are in early stages of preparations for stock market listings. The wave of offerings will [...]
Dubai debt and their own peak oil status – Dubai has shocked investors by asking for a debt standstill at Dubai World, the government’s flagship holding company that has developed some of the world’s most extravagant real estate projects. The move raised the spectre of default in the Middle East’s trading hub just as early [...]
US CO2 emissions cuts are a step in the right direction, but more needs to be done by the world’s largest emitter and oil consumer, the chief economist of the IEA said last week. The US House has passed a bill that sets a 17 percent reduction target for emissions by 2020 from 2005 levels, [...]
Demand for OPEC crude oil output in the first quarter of 2010 is expected to fall below current output, the Mehr News Agency quoted a senior Iran official as saying on Monday.
“Demand in the last quarter of 2009 is about 29.3 million barrels per day (bpd) … it is expected to fall to 28.1 million [...]
Oil prices end the week trading on solid ground although concerns that Dubai’s call for a freeze on debt payment by a key state owned company could derail the global recovery from recession.
NYMEX light sweet crude oil futures for January delivery, settled at 76.05 dollars a barrel, a decline of 1.91 dollars from Wednesday’s close [...]
Crude oil prices fell to their lowest level in nearly to months in trading on Friday as concern over losses stemming from Dubai World’s attempt to reschedule its debt led to gains in the US dollar and declines in equities.
Oil prices also dropped on signs that the pace of fuel demand recovery in the US, [...]
ICE Brent crude oil price is trading lower on Friday around the $76 dollar mark as a heavy sell off overnight in Asia as nervous stock markets worried about banks’ exposure to Dubai World’s debt.
Futures for the Dow Jones Industrial Average were down 301 points, or nearly 3%, to 10,141. Futures for the S&P [...]
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Daily oil trading report from ODL MarketsThe lower US Dollar helped push the price of oil higher, and Fridays better than expected non-farms increased confidence that the global economic recovery is in full swing.
Having traded over $82, we are at two month highs, so the next significant landmark is $84, sixteen month highs. Positive signs from China also increased traders [...]
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