Oil rises above $40, Citi stake report supports
Oil rose above $40 a barrel on Monday, recovering from earlier losses, after sentiment was lifted by a report the U.S. government was in talks on increasing its stake in Citigroup.
Oil rises above $40 on Citi stake report
Oil rose above $40 a barrel on Monday, recovering from earlier losses after sentiment was lifted by a report that the U.S. government could end up owning as much as 40 percent of Citigroup.
U.S. oil rises above $40 on report of U.S. stake in Citi
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 fall on economic concerns
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...
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Oil falls below $39 after surge on U.S. stock draw
Oil prices fell below $39 a barrel on Friday as front-month contracts near expiry, paring a 14-percent gain a day earlier on government data showing an unexpected draw in U.S. crude stocks.
U.S. crude futures for March delivery, which expire later in the day, fell 76 cents to $38.72 a barrel by 0206 GMT, after posting in the previous session the biggest settlement gain since December 31.
April d...
Oil jumps 14 percent on U.S. inventory drop
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 jumps 12 percent on U.S. inventory drop
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...
U.S. energy secretary blames his OPEC remark on naivete
Just hours after he said urging OPEC not to cut oil production was not in my domain, U.S. Energy Secretary Steven Chu said that remark reflected more of my naivete than anything else and he would encourage OPEC members to promote stability in crude oil prices.
Oil prices fall further on economic gloom
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...
U.S. oil slides below $35, stocks build in focus
LONDON - U.S. oil prices fell below $35 a barrel on Wednesday, continuing Tuesday's nearly 7 percent slide on renewed economy concerns, slumping demand and bloated inventories.
U.S. crude for March delivery fell 4 cents to $34.89 a barrel by 10:53 a.m. EST, while London Brent crude for April delivery was down 92 cents to $40.11 a barrel.
The crude market is still hanging on to the low end of...
U.S. oil falls toward $36 on demand concerns
SINGAPORE - U.S. oil prices fell toward $36 a barrel on Tuesday as bleak economic indicators in Asia returned focus to the worldwide oil demand slump.
Following Monday's news that Japan's economy shrank by the most in 35 years, a Reuters poll showed confidence among manufacturers remained mired near record lows and service sector sentiment fell to its poorest ever.
Concerns over weak oil co...
U.S. oil falls to $37 on demand concerns
Oil in New York fell to around $37 a barrel on Tuesday as bleak economic indicators turned the focus back to the worldwide slump in demand, outweighing lower supplies due to OPEC cutbacks.
U.S. oil nears $38 after IEA talk of supply crunch
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...
U.S. oil above $38 after IEA talk of supply crunch
U.S. oil prices climbed above $38 a barrel on Monday after the International Energy Agency (IEA) said there could be an oil market supply crunch from next year once global oil demand begins to recover.
Oil nears $42 as markets focus on U.S. stimulus
Oil prices approach $42 as investors eyed an $800 billion-plus U.S. stimulus package aimed at increasing oil demand.
Crude oil drops below $35 a barrel as OPEC predicts low demand
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.
Crude retreats as Dollar gains, investors sell on Profit-taking
Crude prices declined more than $2 a barrel on Thursday as traders sold on profit taking and the dollar rallied against the euro.
Crude hits new Record at $131.88 a barrel as Inventories Fall, Fears of Short Supplies Rise
Crude oil hit the record above $131 a barrel on Wednesday as crude inventories in the U.S. fell more than expected on the week ended May 16.
Oil Near $130 a Barrel on Supply Fears, Higher Forecasts
Crude oil prices rose for the first time above $129 a barrel in New York as investors fear supplies are insufficient to meet global demand, and as major firms rose its forecasts for oil prices.
Crude oil rises on Supply worries, High Gasoline Prices
Crude rose on Monday as supply worries continue despite a decision from South Arabia to raise oil production, while gasoline rose to $4 a gallon in some areas in the United States.
Oil Hits record as Iran Reviews Plan to Cut Output, Lack of Supplies
Crude oil prices rose on Tuesday to a new of $127 a barrel after Iran said it is reviewing a plan to cut output and renewed concerns that refiners are not satisfying demand of distillate fuels including heating oil.
World begins to smart from oil's too rapid rise
From the poorest of Africa to the United States and big business, a breakneck rally that could take oil to $200 a barrel is likely to inflict pain on everyone.
Crude Hits Record above $126 as Dollar Falls, OPEC may Consider Increase Output
Crude oil futures soared for a fifth day above $126 a barrel on Friday as the dollar fell against the euro and other major currencies increasing demand for commodities as a hedge against inflation.
Oil Hits New Record of $124 a barrel
Crude futures climbed past $124 a barrel in electronic trading late afternoon, recovering from earlier weakness as traders continued to have concerns over global supplies, while OPEC commented the market is well supplied.
'Super-spike' Could Push Oil to $200 a barrel
Oil could potentially soar up to $200 within the next two years as part of a super-spike driven by slowing growth in oil supplies, investment bank Goldman Sachs said in a research note on Tuesday.
Oil vigilantes are resurfacing in the Nymex oil pits
By Gary DorschIn the futures markets, crude oil is up 80% from a year ago, unleaded gasoline up 40% natural gas up 39%, Soybeans are up 83%, corn up 65%, wheat up 95%, sugar up 30%, Gold up 36%, and rough rice is 125% higher from a year ago
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