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Live Crude Oil Prices |
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| Oil prices continue upward march |
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Oil prices have crossed $116 a barrel for the first time after a militant group in Nigeria said it had attacked an oil pipeline. The news reignited US sweet, light crude, which touched $116.10, before falling back to trade above $115. It has been a volatile session for oil, which earlier had declined about $1.40 to $113.50 a barrel in New York.
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0 Comments - More Info - Bury Topic: Oil News Stories (Source: news.bbc.co.uk)
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| Oil Rises to Record on Signs Stronger Economy May Boost Demand |
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Crude oil and gasoline climbed to records in New York amid signs that a strengthening economy may boost demand. U.S. stocks were poised for the best week since February following earnings reports from Citigroup Inc., Google Inc. and Caterpillar Inc. that exceeded analyst estimates. Refineries operated at 81.4 percent of capacity last week, the Energy Department reported... |
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0 Comments - More Info - Bury Topic: Oil News Stories (Source: bloomberg.com)
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| Oil prices and rice race to record levels |
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In energy markets, Nymex May West Texas Intermediate hit a record $116.10 a barrel on Friday before easing back to trade 60 cents higher at $115.46, up 4.8 per cent this week. Tightening in the US market helped drive the price higher after the Energy Information Administration announced unexpectedly large declines in crude and petrol stocks. ICE June Brent added 42 cents at $112.85 a barrel.. |
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0 Comments - More Info - Bury Topic: Oil News Stories (Source: ft.com)
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| Bet on oil as the newest bubble |
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The energy story is that the planet is running out of oil, and we must pay $115 a barrel or more or return to the Stone Age. The "peak oil" theory, a fringe doomsday scenario a few years ago, is now an investment philosophy. Like the other bubble stories, the energy tale contains substantial truth. It's just a matter of how much the truth is going to cost you. |
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0 Comments - More Info - Bury Topic: Peak Oil Concepts (Source: baltimoresun.com)
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| Economies Can Cope With Higher Oil Price, Libya Says |
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The global economy can cope with rising crude prices, which may climb to as high as $120 a barrel in the coming week, Libya's top oil official said. ``For years we've been saying the era of cheap oil is over,'' Shokri Ghanem, chairman of Libya's National Oil Corp., said today in Rome before the International Energy Forum, which starts tomorrow. |
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0 Comments - More Info - Bury Topic: Oil News Stories (Source: bloomberg.com)
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| Crude oil prices close to $120 on Gulf action |
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Oil's record-breaking run brought crude prices within touching distance of $120 this week while rice and tin prices hit new peaks but gold slipped below the $900-an-ounce level. On Friday, oil jumped by more than $3 after a US military vessel fired on an Iranian boat in the Gulf, fuelling concerns about a conflict escalating between Washington and Tehran. |
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0 Comments - More Info - Bury Topic: Oil News Stories (Source: ft.com)
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| BP Shuts Pipeline on Strike, Cutting U.K. Oil Output |
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Crude oil has surged on the prospect of the pipeline closing. The Forties Pipeline System ships about 700,000 barrels a day from more than 50 fields in the North Sea, which will be forced to close as well. Workers at the Ineos Group Holdings Plc's Grangemouth refinery started a two day strike this morning in a dispute over pensions. About 1,100 workers at the Grangemouth have gone on strike... |
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0 Comments - More Info - Bury Topic: World Oil Company Updates (Source: bloomberg.com)
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| Record oil price to boost oil majors profits |
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Brent and benchmark US crude prices rose around 70 percent in the first quarter compared with the same period last year, to average almost $97/bbl and $98/bbl, respectively, while gas prices also rose. Earnings growth, though generally strong, is lagging behind. The profitability of the industry is clearly not as robust as the headline oil price might at first imply. |
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0 Comments - More Info - Bury Topic: Oil News Stories (Source: reuters.com)
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| Oil price climbs on UK pipeline fears |
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Oil prices rose above $119 a barrel as oil giant BP prepared to shut down a key North Sea pipeline and a strike at Exxon in Nigeria disrupted production. BP's Forties pipeline, which provides a third of the UK's daily oil output, will close if a two-day strike by refinery workers goes ahead. US light crude rose $3.15 to $119.21 a barrel, but later settled at $118.52. |
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0 Comments - More Info - Bury Topic: Global Oil Supplies (Source: news.bbc.co.uk)
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