February 2010
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News from February 2010

Crude oil prices trading higher, eyes on US Dollar Index

Crude oil price are trading higher on Wednesday as a decline in the US dollar (see Dollar Index) heightened crude oil’s appeal for hedging inflation.
US Light crude oil futures for March delivery rose as much as 81 cents, or 1.1 percent, to $78.04 a barrel in electronic trading on the NYMEX, while in London, Brent [...]

BP’s Hayward says demand for oil will peak by 2030

Global demand for oil will peak within the next two decades, Tony Hayward the chief executive of BP said the plateau would be reached between 2020 and 2030 as falling demand from developed countries balanced growing demand from developing nations.
His comments also suggest Mr Hayward now thinks the peak will come earlier than he had [...]

OPEC worried about member’s oil production targets

OPEC has told the BBC that compliance with oil production targets by the OPEC member countries fell to bewteen 50 and 56% in January 2010 compared with 80% a year ago.
Abdalla Salem El-Badri the Secretary General of OPEC told the BBC’s Business Daily programme the move was “worrying”. “The risk is you see a lot [...]

Oil prices trading higher as optimism boosts Asia markets

US crude oil futures touched $77.66 a barrel in trading on Wednesday, the highest price since January 21st, and was trading up 22 cents at $77.45 at 0758 GMT, while on Tuesday oil prices soared over three percent, the biggest gain for a front month contract since September 30th, while in London ICE Brent crude [...]

Crude oil prices trading in $76 to $77 range, markets up

World crude oil prices are trading around the $76 to $77 range a barrel Wednesday, after positive US home sales data and rising world stock markets aided momentum to the economic recovery.
US Light crude oil futures for March delivery is trading nearly three percent higher at $77.23 a barrel on the NYMEX, while in London [...]

Brent oil price trading around $76, up three percent

Brent oil prices are trading up around three percent on Wednesday, near the $76 mark after posting its biggest percentage gain in four months a day earlier, as rising crude inventories in the US damped optimism of a demand recovery. London ICE Brent crude oil futures are currently trading around $75.70 a barrel.
“The US is [...]

US Light oil trading up at $77 on brighter economic outlook

US Light oil prices climbed over three percent in trading on Tuesday, extending strong day earlier gains as the global market appeared more optimistic about a brighter economic outlook and crude oil demand.
NYMEX Light crude oil futures for delivery in March, jumped $2.80 dollars to close at $77.23 a barrel, while in London, Brent crude [...]