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 [...]
Sep 07 2009
The Organization of Petroleum Exporting Countries (OPEC) meets in Vienna on Wednesday, with most analysts expecting the producer group, the source of more than a third of the world’s oil supply, to maintain its official output target stable around $70. Oil prices pushed toward $69 a barrel in thin trade on Monday, with sentiment buoyed [...]
Jul 30 2009
Crude oil prices slid to $67.26 per barrel on the New York Mercantile Exchange Tuesday, as U.S. stock markets closed flat for the second consecutive day. Prices for light, sweet crude fell 98 cents from Monday’s closing price. Heating oil prices fell marginally, down 0.0176 cents to $1.7705 per gallon. Reformulated blendstock gasoline dropped 0.017 [...]
Mar 15 2009
Russia is poised to hold a conference in Moscow and invited OPEC representatives to take part and discuss the procedure for setting oil prices, Deputy Prime Minister Igor Sechin said during a meeting with President Dmitry Medvedev. Sechin indicated that Moscow would suggest a gradual transition to the new system of price formation, the Vesti [...]
Feb 13 2009
Oil rose back above $34 a barrel Friday in Asia after concerns about weakening U.S. consumer demand sent crude near five-year lows overnight. Light, sweet crude for March delivery rose 41 cents to $34.39 a barrel by afternoon in Singapore on the New York Mercantile Exchange. The contract fell $1.96 overnight to settle at $33.98 [...]