Dec 04 2008
Oil prices closed at less than $47 a barrel on Tuesday as news that OPEC made only two-thirds of its pledged output cuts last month outweighed a rebound in the U.S. stock market. New York light sweet crude for January dropped $2.32 to close at $46.96, the first time the benchmark contract has settled below [...]
Oct 17 2008
World prices for oil futures continued to fall. On the stock market price of oil fell another 6.3% and established by the end of the day below 70 U.S. $ / bbl. In New York, at the official price of NYMEX futures Light, Sweet Crude Oil (November) fell 4 cents to $ 69 and settled [...]
Jul 24 2008
World market prices for oil on July 22, 2008 at the leading oil exchanges declined significantly. Official oil futures prices coming month deliveries were: at the InterContinental Exchange Futures – 129,55 US$/bbl. (IPE Brent Crude); at the New York Mercantile Exchange – 127,95 US$/bbl (Light, Sweet Crude Oil). The price of oil began the session [...]
Jun 21 2008
The Minister of Energy Sam Bodman said at a press conference in Jeddah (Saudi Arabia) that high oil prices are primarily caused by insufficient production, not speculation in the market. Saudi Arabia, which is currently the largest oil exporter in the world, can increase production “black gold” to 12.5 million barrels a day by the [...]