Oil rose above $40 a barrel on Wednesday, extending a 4 percent rally in the previous session, lifted by firmer equities before the release of U.S. inventory data expected to show rising supply.
World stocks rose on Wednesday after Federal Reserve Chairman Ben Bernanke signaled nationalization of big banks was not at hand. Investors' concern of nationalization had weighed on stocks.
The equit...
Oil held above $40 a barrel on Wednesday after a 4 percent rally in the previous session, as equities gained and investors looked ahead to U.S. inventory data expected to show rising supplies.
Crude's advance on Tuesday stemmed from Wall Street gains sparked by reassuring comments from Fed Chief Ben Bernanke, while President Barack Obama said the United States would emerge stronger from the econ...
Oil shed on Wednesday some of the previous session's 4 percent gains but held above $39, after President Obama balanced his message of hope for the U.S. economy with a warning and ahead of data on U.S. oil stocks.
Obama told Congress the United States would emerge stronger from its deepest economic slump in decades but said America faced a day of reckoning for its past excesses.
The preside...
Oil ticked up above $38 on Tuesday as investors took a fresh look at OPEC's greater than expected success in cutting supplies.
Prices had tumbled earlier following Monday's fall in U.S. stocks to a 12-year low.
The plunge on the Wall Street on Monday overshadowed figures from Petrologistics that OPEC producers were likely to pump less oil in February than January.
A Reuters calculation based ...
U.S. oil rose above $40 a barrel on Monday, recovering from earlier losses, after a report that said the U.S. government could end up owning as much as 40 percent of Citigroup sparked relief among investors and lifted sentiment.
But persistent worries about the health of the global economy and its impact on world energy demand continued to rank high on investors' concerns, keeping oil prices ran...
Oil prices fell on Friday as the deteriorating global economic outlook continued to weigh on the market.
U.S. crude futures for March delivery, which expired on Friday, settled at $38.94 a barrel, down 54 cents, after posting the biggest settlement gain since December 31 in the previous session.
April Brent crude settled at $41.89 a barrel, down 10 cents.
Right now, oil is being driven by the...
Gold rose above $1,000 an ounce on Friday for the first time since March last year as nervous investors piled into the yellow metal to preserve wealth amid a tumbling stock market.
Long-term inflation worries fanned by the massive U.S. economic stimulus package signed by President Barack Obama this week has driven investors into gold, which is perceived as the most likely asset to hold its value ...
and would likely continue to worsen for the time being.
Japan has been hit particularly hard by the global slump, triggered by the U.S. housing market meltdown, due to its heavy dependence on exports and chronically weak domestic consumption.
Crude inventories in the United States, the world's top consumer, fell slightly last week on lower imports and higher demand, the U.S. Energy Information...
Oil prices jumped 14 percent to top $39 a barrel on Thursday after U.S. government data showed an unexpected fall in crude inventories last week due to lower imports and higher demand.
The draw snapped a seven-week streak of crude builds in the world's top consumer, where the slumping economy has dragged down fuel use.
U.S. crude futures for March delivery, which expires on Friday, rose $4.86 t...
Oil prices jumped more than 12 percent to near $39 a barrel on Thursday after U.S. government data showed an unexpected fall in crude inventories last week due to lower imports.
The draw snapped a seven-week streak of crude builds in the world's top consumer, where the slumping economy has dragged down fuel demand.
U.S. crude futures for March delivery, which expires on Friday, rose $4.24 to $3...
Oil rallied toward $36 a barrel on Thursday ahead of key United States inventory data, while the dollar's weakness and a recovery in global stock markets offered support to oil prices.
Crude stockpiles in the United States likely rose last week by 3.0 million barrels to their highest since May 1998, a Reuters poll of analysts ahead of the U.S. Energy Information Administration data due later on...
Oil prices rose above $35 a barrel on Thursday ahead of United States data expected to show crude inventories in the top energy consumer hit an 11-year high amid a worsening recession.
Oil stocks in the U.S. have risen by 20 percent since September as the downturn has crushed consumption, and helped pull crude prices more than $110 off their peaks last summer.
A day ahead of expiry, U.S. crude f...
Oil prices were steady below $35 a barrel on Thursday, ahead of U.S. data expected to show crude inventories in the top energy consumer have hit an 11-year high amid the worsening recession.
Oil stocks in the United States have already risen by 20 percent since September as the economic downturn crushed consumption, which helped pull crude prices more than $110 off their peaks last summer.
A day...
NEW YORK - Oil prices fell nearly 1 percent to below $35 a barrel on Wednesday as dealers bet that slumping fuel demand in top consumer the United States has forced crude inventories to an 11-year high.
U.S. crude for March delivery slipped 31 cents to settle at $34.62 a barrel, while U.S. crude for April delivery fell $1.13 to $37.41 and London Brent for April delivery fell $1.48 to $39.55.
Th...
LONDON - U.S. oil prices climbed toward $38 a barrel on Monday after the International Energy Agency said there could be an oil market supply crunch from next year once global oil demand begins to recover.
The IEA warning gave upward momentum to a market undermined by a raft of bearish economic data from Asia.
Japan's economy shrank in the last quarter by its most since the first oil crisis i...
LONDON - U.S. oil prices stayed above $37 a barrel on Monday, as bearish economic data from Asia slowed the upward momentum after a sharp rally at the end of last week.
Japan's economy shrank in the last quarter by its most since the first oil crisis in 1974, hit by an unprecedented slump in exports, which is likely to lead to more calls for extra stimulus steps to fight the deepening recession...
Oil prices rose on Wednesday above $42 after the U.S. stock market rose a day earlier on expectations that upcoming government and money policy could reduce instability in the financial system, raising spending and boosting credit availability.
Oil and energy prices may rebound aggressively in the second half of 2009, said an analyst at Goldman Sachs Group Inc.
In the eastern half of the Lower 48 States, temperatures were significantly lower this report week, resulting in sharp price increases in the Northeast as space-heating demand rose. In the West and in the producing regions along
Crude oil plunged below $35 a barrel on Thursday after OPEC said demand for its crude will drop and reports in the U.S. showed employment claims increased.
The monthly energy supply, demand, and price forecast published in the Short-Term Energy Outlook (STEO) was extended by one year, through December 2010, in the issue released yesterday by the Energy Information
Crude oil plunged below $37 a barrel after the U.S. government reported crude stockpiles jumped the highest since August 2007 as demand for fuel shrinks.
Oil futures rebounded for the first time in six days in New York after Saudi Arabia said it will cut its February production.
Crude oil slumped below $37 a barrel on Tuesday to mark its largest decline in one month on expectations that U.S. supplies have increased due to low demand.
Crude oil futures plunged on Wednesday 12 percent - its most in seven years - after a report revealed U.S. supplies of crude, gasoline and distillate fuels rocketed as demand declined.
European Union officials on Monday played down the impact of the gas dispute between Ukraine and Russia despite supply disruptions that are making some countries in Europe dip into gas reserves.
Gold futures gained in New York on Wednesday following weakness in the U.S. dollar and oil prices reached a new record, boosting the appeal of the precious metal as a hedge against inflation.
Product supplied is defined as production plus imports minus stock change minus exports. Product supplied measures the volume of products moving through the primary petroleum supply system, which consists of refineries,
Gold futures gained on Tuesday to a 10-week high on speculation that increased tensions over Iran's nuclear program will boost investment demand for the precious metal as a hedge against inflation. Silver also gained while dollar dropped against international counterparts.
Gold futures closed down on Monday after oil prices reclined from earlier records levels while the U.S. dollar gained against the euro, eroding the appeal of the precious metal as an alternative investment.
