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Oil Slips Near 72 At The End Of An Up Week
LONDON (Reuters) — Oil prices slipped toward 72 a barrel Friday as dealers took profits from a 5% rally earlier in the week and the U.S. dollar bounced from a near-one-year low.Crude for October delivery fell 43 cents to settle at 72.04 a barrel.”After being up for much of the week the market took… »
Oil Prices 4 Factors Moving The Market
NEW YORK: Oil prices have surged more than 50% from the start of the year, but don’t expect a return to triple digits anytime soon — worries about the pace of an economic recovery will continue to drive near-term volatility.”The market is manic right now,” said Phil Flynn, analyst at PFG Best. “This is more… »
Oil Slips Below 69 On China Shares Fall
LONDON (Reuters) — Oil fell below 69 a barrel on Wednesday after a near 5% slump in Chinese shares sent doubts rippling through global markets about the strength of the world economic recovery.Prices had surged by more than 3% in the previous session on tentative signs oil demand could be picking up in the… »
Oil Rises Above 69 On Wall Street Gains
NEW YORK (Reuters) — Oil rose to over 69 a barrel Tuesday as stronger-than-expected earnings results lifted equities and boosted optimism about the economy.U.S. crude for September delivery rose 2.44 to settle at 69.19 a barrel with further support coming from the weaker dollar. “We are just taking our cues from the S&P and the… »
Oil Falls Below 69 Ahead Of EIA Report
LONDON, Aug 12 (Reuters) — Oil slipped towards 69 a barrel on Wednesday, falling for the fifth straight session, as growing concerns about the strength of demand pressured prices ahead of the release of weekly U.S. inventory data.World oil demand growth will be lower in 2010 than previously forecast, the International Energy Agency (IEA)… »
Oil Edges Higher On Chinese Imports
LONDON (Reuters) — Oil prices crept up towards 71 a barrel on Tuesday, spurred by record fuel imports to the world’s second biggest energy user China, but the market was cautious ahead of the next sets of supply and demand data.Light, sweet crude for September deliver was up 13 cents to 70.73.Imports to China… »
Oil Retreats Below 71 On Inventories Dollar
LONDON (Reuters) — Oil prices dipped below 71 a barrel on Monday, losing momentum after last week’s rally as traders focused on swollen inventories and prospects for a stronger dollar.U.S. crude was down 58 cents to 70.35 a barrel. Prices gained a modest 2% over the course of last week but closed lower on… »
Oil Prices Ease Ahead Of Jobs Report
LONDON (Reuters) — Oil edged down on Friday from a six-week high as markets looked to upcoming U.S. July employment data for clues on whether the U.S. economy could be emerging from recession.Light crude for September delivery fell 70 cents a barrel to 71.24 after briefly touching as low as 70.91.It settled 3 cents… »
Oil Slips From Six-week High As Wall Street Drags
NEW YORK (Reuters) — U.S. oil prices fell back slightly from a six-week high on Thursday, pulled lower by weakness on Wall Street and gains in the U.S. dollar.U.S. crude fell 3 cents to settle at 71.94 a barrel, after touching a peak of 72.42 earlier in the day, the highest since late June.”This price… »
Oil Falls Toward 70 On Higher Crude Supply
LONDON (Reuters) — Oil fell towards 70 a barrel on Wednesday after U.S. government inventory data showed a build in crude stocks and weak economic data raised doubts about oil demand recovery in the world’s largest energy consumer.U.S. light, sweet crude fell 81 cents to 70.61 a barrel, giving away some of the gains that… »