Jul 20 2010
Oil prices hovered below $77 a barrel Tuesday as traders awaited corporate earnings reports for clues about the strength of the global economy and the outlook for energy demand.
By early afternoon in Europe, benchmark crude for August delivery was down 18 cents to $76.36 a barrel in electronic trading on the New York Mercantile Exchange (NYMEX). The contract rose 53 cents to settle at $76.54 on Monday.
Apr 22 2010
Crude oil prices fell as fresh concerns over Europe’s economy spooked the markets and overshadowed a slew of upbeat corporate earnings. Crude for June delivery dropped $1.05 to $82.63 a barrel.
A spate of mostly upbeat earnings reports in the U.S. helped to boost oil prices, after they fell 3% last Friday on the Goldman Sachs fraud charge. But the good news were overshadowed in part by still weak demand, European economic woes, and the Icelandic volcano, which has crippled international travel and shipments.
Feb 06 2010
Oil prices ended the week at the lowest level in nearly two months, weighed down by a stronger dollar and persistent doubts about the health of the global economy. Crude prices have now dropped more than 14 percent since cresting at a 15-month high of $83.18 a barrel on Jan. 6.
Energy prices were propped up earlier in the year by predictions that China, India and other developing nations would aggressively boost petroleum imports to feed their growing economies. But China has since taken steps to control risky bank lending and to cool off its economy.