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The Crude Oil market gyrated wildly this week with a high Sunday night of $80.78 and a low of $77.05. Prices closed for the week down 64 cents to $79.60 in quiet professional trading. The market looked strong in the beginning of the week as traders absorbed information about Total. Europe’s [...]
Brent oil prices are trading higher on the latest data that suggest the US economy grew at a 5.9 percent annual rate (GDP) in the fourth quarter of 2009, signaling that oil demand may climb in 2010.
Brent crude oil futures for April settlement rose 58 cents, or around one percent in trading to $76.89 [...]
US Light oil prices rose in trading on Friday as the US dollar slipped against the euro, bolstering the appeal of commodities buying including crude oil and gold.
US Light crude oil futures for April delivery was up 16 cents to $79.06 a barrel in electronic trading on the NYMEX, while in London, Brent crude oil [...]
The US refused to back British claims to sovereignty over the Falkland Islands yesterday as the diplomatic row over oil drilling in the South Atlantic intensified in London, Buenos Aires and at the UN.
Despite Britain’s close alliance with the US, the Obama Administration is determined not to be drawn into the issue. It has also [...]
UK North Sea oil companies cannot afford to increase oil and gas extraction from the North Sea area, despite an increase in known oil reserves, according to a new report by industry body Oil & Gas UK shows that there are more projects under consideration than in 2009.
However, difficulties raising finance and the fact that [...]
The IEA said on Friday that world oil stocks can absorb the loss of supply from Iran for a year and this should have a calming effect on the oil market.
Iran is OPEC’s second largest producer and concerns that the row with the US and its allies over Tehran’s nuclear programme may lead to a [...]
Oil prices rose in trading on Friday as the US dollar weakened against the euro, with hopes of demand recovery supporting prices above $78. The ICE US Dollar Index, which measures the dollar against a basket of leading currencies was at 80.50 as of this morning.
On the NYMEX, Light crude oil futures for delivery in [...]
ICE Brent crude oil prices are trading nearly three percent lower as Greece debt worries bring european stocks sharply down. In London, Brent crude oil futures are down $2.18 to $75.91 a barrel on the ICE Futures Exchange.
Earlier today, news that rating agencies may downgrade Greece’s sovereign debt rating refocused attention on the weak fiscal [...]
US Light oil prices fell over two percent on Thursday and are currently trading just above the $78 mark after a disappointing US jobless claims report and as the dollar strengthened against the euro and other currencies. The number of workers filing for jobless benefits in the US rose last week.
On the NYMEX at 9:54 [...]
Both Brent and Light crude oil prices are trading down around two percent on Thursday as the latest US jobs data sends stock markets and in turn, oil prices lower.
Light crude oil futures for April delivery recently traded $78.39 a barrel on the NYMEX, while in London, Brent crude on the ICE Futures Exchange traded [...]
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Daily oil trading report from ODL MarketsThe price of oil stayed above the $80 level as data showed that net long positions are at their highest levels since January.
The catalysts for the moves up are a weaker dollar, political unrest in Nigeria, and Chinese intention to build up oil reserves. No that oil has traded above, and more importantly stayed [...]
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