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oil prices, oil trading
NYMEX light oil prices rose above $67 on Wednesday trading, recouping day ago losses as the US dollar dipped against the euro and resource currencies like the Australian dollar, while eyes are on talks over Iran’s nuclear plans.
Prices fell on Tuesday due to builds in US crude oil and distillates stocks, a downgrade to energy [...]
Crude oil rose above $67 a barrel in New York in late trading on Tuesday as the US dollar retreated from gains and investors purchased futures on signs of a global economic rebound.
Oil climbed, reversing earlier declines, after the dollar slid against the euro today, prompting investors to buy commodities as an inflation hedge. Chinese [...]
A confounding mix of factors, some propelling a hike in oil prices and some its decline will keep oil prices trading between $65 and $75 a barrel, analysts said. A weakening of dollar, expected over the long term is however expected to bring prices up, they said.
“Oil is below $70 and there is a [...]
The IEA has recommended that Spain raises fuel taxes as the increase on gasoline and diesel for automotive use would be on the grounds that increases would lower the international consumption average, because low prices do not encourage reduced consumption.
This is reflected in a report on Spain’s energy policy of the IEA presented today by [...]
What is the ideal oil price? A review of recent economic history yields the observation that when petroleum sells above about $80 a barrel (in inflation-adjusted terms) economies begins to stall. Oil industry wags have begun to speak of a “Goldilocks” price range of $60 to $80 a barrel (not too high, not too low, [...]
After sliding about 8% last week, light oil prices ticked back near $67 Monday, tracking a rise in equities. NYMEX Light cude oil futures for November delivery rose 82 cents and settled at $66.84. In midday trading, prices topped $67, rising 2%.
“The main catalyst supporting energy prices is the stock market,” said Liberty Trading Group [...]
Oil prices held steady, trading around $67 a barrel on Tuesday after climbing more than 1 percent a day ago, boosted by strong equities markets and Iran’s missile tests, but gains were moderated by expected builds in U.S. fuel stocks.
“Crude will continue to move according to the stock markets and inversely to the dollar, which [...]
A Chinese state owned oil company is in talks with Nigeria to buy large stakes in some of the world’s richest oil blocks in a deal that would eclipse Beijing’s previous efforts to secure crude overseas.
The attempt could pitch the Chinese into competition with western oil groups, including Shell, Chevron, Total and ExxonMobil, which partly [...]
NYMEX light crude oil futures seesawed near unchanged on Monday, lifted by concerns and tensions about Iran’s nuclear row with the West and supported by news that part of the Houston Ship Channel was shut after an oil spill.
Sources also noted that failure to take out Friday’s $65.05 intraday low in early Monday trading provided [...]
Oil edged above $66 a barrel in trading on Monday, rebounding after an earlier decline which extended last week’s 8.4 percent slide, as the dollar lost ground and stock markets moved higher.
The dollar gave up most of its earlier gain against a basket of currencies, boosting the appeal of oil and commodities to investors. European [...]
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