February 2010
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News from February 2010

Oil prices up on short covering, US job Data next cue

Crude oil prices rebounded on the back of short covering Friday in Asia after prices dipped below $73 a barrel in midday trading session. Global market sentiment turned negative overnight, reflecting the euro’ s weakness versus the dollar due to debt problems in the euro zone, which helped pummel crude prices by 5% in floor [...]

BP says world oil use peak as low as 95M barrels per day

Peak Oil? World oil demand will peak at a maximum of around 110 million barrels per day after 2020, BP Chief Executive Tony Hayward said on Thursday in a bold prediction from the head of a major oil company.
The comments come as interest in the view that the world’s oil demand may soon reach a [...]

US Light oil price trading steady after 5 percent drop

US crude oil futures edged higher above $73 a barrel in trading on Friday after posting their steepest one day percentage fall since July 2009 (5 percent) the previous day when the US dollar soared and demand concerns resurfaced.
More than 496 million barrels worth of front-month crude oil contracts on the NYMEX changed hands, representing [...]

Brent oil trading at $73 after biggest loss in 6 months

Brent oil prices had its biggest trading loss in six months yesterday as the US dollar climbed to the highest level against the euro since May 2009, Brent oil futures declined $3.84, or 5 percent, to $73.14 a barrel, the biggest drop since July 29th 2009. US Light crude oil futures for March delivery was [...]

Oil trading investors seek bargain crude oil prices

Oil trading investors seek bargain crude oil prices as crude oil rose slightly in Asia trading on Friday following sharp losses overnight with oil prices loosing over five percent yesterday, as investors attracted by cheaper prices returned to the oil market, analysts said.
Sentiment, however, remained weighed down by tumbling stock markets and a stronger US [...]

Oil prices trading down five percent on European debt, dollar

Global oil prices were trading down around five percent at close on Thursday as debt problems in major European countries including Greece sent the US dollar higher, while a rise in US weekly jobless claims raised demand concerns.
Crude oil prices slumped almost 5% in New York on the NYMEX, sinking $3.84 to $73.14, the biggest [...]

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