Oil prices fell by 3.7 percent toward $69 a barrel on Monday as further signs of weak fuel demand raised expectations that prices may have raced ahead of the nascent economic recovery.
Oil prices fell by almost 3.5 percent toward $69 a barrel on Monday as further signs of weak fuel demand raised expectations that prices may have raced ahead of the nascent economic recovery.
Oil fell by more than 3 percent to below $70 a barrel on Monday as further signs of weak fuel demand raised expectations prices may have raced ahead of the nascent economic recovery.
Oil fell by more than 2 percent to $70 a barrel on Monday as further signs of weak fuel demand raised expectations prices may have raced ahead of the nascent economic recovery.
Oil fell by almost 2 percent toward $70 a barrel on Monday as further signs of weak fuel demand raised expectations prices may have raced ahead of the nascent economic recovery.
Equatorial Guinea seeks steady oil output of 500,000 barrels per day but not necessarily membership in OPEC, the African nation's oil minister Owono Edu Marcelino said Friday.
Oil eased to around $71 a barrel on Wednesday after a bigger-than-forecast rise in U.S. fuel stocks offset positive expectations for the world economy that spurred other markets higher.
Oil prices rose on Thursday after a U.S. government report showed a surprise decline in stockpiles in the world's largest energy consumer, and OPEC said it would maintain official output curbs.
Oil slipped below $72 a barrel on Thursday, reversing earlier gains, as large increases in U.S. fuel inventories overshadowed a drop in crude inventories and outlooks for a rise in global demand.
Oil rose toward $72 a barrel on Thursday, supported by a report from the International Energy Agency that global demand will be higher this year and next than it previously forecast.
Global oil demand will be almost 0.5 million barrels per day higher than previously forecast this year and next on stronger-than-expected U.S. and Chinese fuel consumption, the International Energy Agency said.
Oil rose toward $72 a barrel on Thursday, supported by OPEC's decision to hold output steady and forecasts by the International Energy Agency that global demand will be higher this year and next than it previously forecast.
Global oil demand will be almost 0.5 million barrels per day higher than previously forecast this year and next on stronger-than-expected fuel use in North America and Asia, the International Energy Agency said.
OPEC early on Thursday agreed to hold output targets steady after top exporter Saudi Arabia looked to economic strength to bolster the oil price and dismissed bulging inventories.
Asian stocks rose on Thursday as hopes for global economic recovery prompted investors to shift into riskier assets, while oil found support above $71 a barrel following OPEC's decision to keep output steady.
Oil prices rallied for a fourth day running on Thursday, edging above $71.50 a barrel after bullish inventory data and soothing words from OPEC whetted investor appetite for crude.
OPEC was set to keep output targets steady at a meeting late on Wednesday after top exporter Saudi Arabia looked to economic strength to bolster the oil price and dismissed bulging inventories.
Global oil demand through next year will be weaker than previously forecast while petroleum supplies will be higher, the U.S. government said in a revised outlook on Wednesday.
Oil prices rose on Wednesday, as optimism surrounding economic recovery and a weaker U.S. dollar prompted investors to buy crude to hedge against inflation.
Oil prices rose above $72 a barrel on Wednesday for the first time this month as a falling dollar spurred investors to hedge against inflation by buying commodities.
Oil prices rose above $72 a barrel on Wednesday for the first time this month as a falling dollar spurred investors to buy commodities as a hedge against inflation.
Oil prices rose toward $72 a barrel on Wednesday, extending gains of more than $3 the previous day as a falling dollar spurred investors to buy commodities such as oil as a hedge against inflation.
