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News from November 2009

Oil trading around $77, set for weekly fall, demand concern

US Light crude oil prices are trading around the $77 a barrel in New York early Friday and are poised for a second weekly fall in three on signs fuel demand is slowing in the US, the world’s biggest energy consumer.
Light crude oil prices fell 3 percent yesterday to a four week low after an [...]

IEA says rising oil price risks derailing economic recovery

The IEA on Thursday revised it 2010 world oil demand forecast slightly higher, but warned that rising crude oil prices, if sustained, risk smothering the fragile economic recovery underway.
The Paris based agency said it expects global oil demand to rise to 86.2 million barrels a day next year, representing an upward revision of 140,000 barrels [...]

Oil prices down 3 percent, trading below $77 after report

Oil prices tumbled in late trading on Thursday, dropping around 3 percent below $77 a barrel after the US government reported that petroleum supplies continue to grow as American drivers and businesses cut way back on energy use.
Benchmark crude oil futures for December delivery gave up $2.34 to settle at $76.94 a barrel on the [...]