(Bloomberg) -- Crude oil rose in New York on speculation demand may climb as U.S. refiners increase operating rates to produce gasoline before the peak driving season starts.
Refiners bolstered operating rates by 2 percentage points last week, according to a U.S. Department of Energy report. Crude oil fell yesterday after the pipeline that supplies Canadian oil to the U.S. market resumed shipments.
Read more at Bloomberg Energy News
Showing posts with label Brent Crude. Show all posts
Showing posts with label Brent Crude. Show all posts
Thursday, April 19, 2007
Oil ebbs on pipeline restart, Iran worries support
(Reuters) - Benchmark Brent oil edged lower and U.S. crude fell on Thursday after a major Canadian pipeline was restarted, but renewed concern over Iran's nuclear programme lent some support to prices.
London Brent crude fell 19 cents to $65.85 a barrel by 0812 GMT, reversing Wednesday's 11-cent gain that pulled prices back from a three-week low of $64.76 a barrel. Benchmark U.S. crude fell 45 cents to $62.68.
Read more at Reuters Africa
London Brent crude fell 19 cents to $65.85 a barrel by 0812 GMT, reversing Wednesday's 11-cent gain that pulled prices back from a three-week low of $64.76 a barrel. Benchmark U.S. crude fell 45 cents to $62.68.
Read more at Reuters Africa
Tuesday, April 3, 2007
US STOCKS-Futures point to higher open, crude drops
(Reuters) - The stock market is also likely to take direction from February pending home sales due shortly after the opening. The data will be scrutinized for signs the subprime mortgage crisis has harmed the housing sector.
The fall in crude may underpin consumer-oriented sectors, such as retailers like Wal-Mart Stores Inc. , but it may also put pressure on shares of energy companies such as Exxon Mobil Corp.
Read more at Reuters.com Bonds News
The fall in crude may underpin consumer-oriented sectors, such as retailers like Wal-Mart Stores Inc. , but it may also put pressure on shares of energy companies such as Exxon Mobil Corp.
Read more at Reuters.com Bonds News
Friday, March 30, 2007
US STOCKS-Shares fall after news of U.S. duties on China
(Reuters) - The dollar also fell after the news, while crude oil prices rose further, putting stock investors on edge.
The Dow Jones industrial average was down 71.79 points, or 0.58 percent, at 12,276.96. The Standard & Poor's 500 Index was down 9.80 points, or 0.69 percent, at 1,412.73. The Nasdaq Composite Index was down 9.62 points, or 0.40 percent, at 2,408.26.
Read more at Reuters.com Bonds News
The Dow Jones industrial average was down 71.79 points, or 0.58 percent, at 12,276.96. The Standard & Poor's 500 Index was down 9.80 points, or 0.69 percent, at 1,412.73. The Nasdaq Composite Index was down 9.62 points, or 0.40 percent, at 2,408.26.
Read more at Reuters.com Bonds News
Thursday, March 29, 2007
Gold tracks higher crude oil, defies US dollar
(Reuters) - Gold shrugged off a firmer dollar and rebounded on Friday to track higher crude oil, which spurred some safe-haven buying in parts of Asia.
Spot gold rose to $662.40/662.90 an ounce from $661.20/661.70 an ounce late in New York on Thursday, when it dropped nearly $5 after it failed to break resistance of $670 despite rising crude oil.
Read more at Reuters Africa
Spot gold rose to $662.40/662.90 an ounce from $661.20/661.70 an ounce late in New York on Thursday, when it dropped nearly $5 after it failed to break resistance of $670 despite rising crude oil.
Read more at Reuters Africa
Wall St indexes fall as Bernanke, data, oil weigh
(Reuters) - U.S. stocks ended lower on Wednesday after Federal Reserve Chairman Ben Bernanke said he was uncomfortable with inflation and uncertain about the economy, compounding the impact of a weak durable goods report.
Escalating tensions between Iran and the West also kept investors on edge and boosted crude oil prices nearly 2 percent.
Read more at Reuters Africa
Escalating tensions between Iran and the West also kept investors on edge and boosted crude oil prices nearly 2 percent.
Read more at Reuters Africa
Wednesday, March 28, 2007
European stocks edge down as oil prices rise
(Reuters) - European stock markets drifted lower on Wednesday, as a 1.7 percent jump in U.S. crude oil prices to $64 a barrel supported oil firms Total and BP but hit the broader market.
Oil prices had briefly spiked above $68 on a rumour, quickly dismissed by the United States, of a conflict involving Iran.
Read more at Reuters Africa
Oil prices had briefly spiked above $68 on a rumour, quickly dismissed by the United States, of a conflict involving Iran.
Read more at Reuters Africa
Tuesday, March 27, 2007
Wall St indexes fall, late oil spike hits futures
(Reuters) - U.S. stocks fell on Tuesday after a weak consumer confidence report fueled concerns the housing slowdown may spread to the broader economy and hurt corporate profits.
After the closing bell, U.S. crude oil futures spiked over $5 a barrel on concerns about Iran, sending U.S. stock futures sharply downward in electronic trading.
Read more at Reuters Africa
After the closing bell, U.S. crude oil futures spiked over $5 a barrel on concerns about Iran, sending U.S. stock futures sharply downward in electronic trading.
Read more at Reuters Africa
Monday, March 26, 2007
Gold steady around New York levels, awaits US data
(Reuters) - Gold hovered near its New York levels on Tuesday but a drop in crude oil may limit gains, while investors awaited the release of U.S. economic indicators, which may offer new leads.
Spot gold hit an intraday high of $664.30 and was at $663.75/664.25 an ounce by 0138 GMT, versus $663.30/664.00 late in New York.
Read more at Reuters Africa
Spot gold hit an intraday high of $664.30 and was at $663.75/664.25 an ounce by 0138 GMT, versus $663.30/664.00 late in New York.
Read more at Reuters Africa
Oil holds below $63 after hitting 2007 high
(Reuters) - Oil held below $63 on Tuesday after hitting a 2007 high the previous day on the widening political dispute between Iran and the West and concerns over supply in the United States due to refinery glitches.
U.S. light, sweet crude for May delivery was trading down 11 cents at $62.80 a barrel by 0408 GMT, while Brent crude shed 8 cents to $64.33.
Read more at Reuters Africa
U.S. light, sweet crude for May delivery was trading down 11 cents at $62.80 a barrel by 0408 GMT, while Brent crude shed 8 cents to $64.33.
Read more at Reuters Africa
Shell resumes oil output after Nigerian spill
(Reuters) - Royal Dutch Shell has resumed pumping crude oil through a 187,000 barrel per day pipeline that was closed on March 4 due to a spill, a spokesman said.
Repairs to the pipeline that feeds the Bonny export terminal were completed last Thursday and output from the flow stations feeding the trunk line is climbing steadily.
Read more at Reuters Africa
Repairs to the pipeline that feeds the Bonny export terminal were completed last Thursday and output from the flow stations feeding the trunk line is climbing steadily.
Read more at Reuters Africa
Tuesday, March 13, 2007
Oil steadies at $58 on expected US inventory drop
Oil prices held around $58 a barrel on Wednesday, steadying from a slide the previous day driven by U.S. stock market losses, as traders awaited data projected to show falls in U.S. fuel inventories.
U.S. crude for April delivery was trading up 8 cents at $58.01 a barrel by 0352 GMT, after falling 98 cents on Tuesday when it hit a fresh three-week low. London Brent crude was down 5 cents at $60.85 a barrel.
Read more at Reuters South Africa
U.S. crude for April delivery was trading up 8 cents at $58.01 a barrel by 0352 GMT, after falling 98 cents on Tuesday when it hit a fresh three-week low. London Brent crude was down 5 cents at $60.85 a barrel.
Read more at Reuters South Africa
Wednesday, March 7, 2007
Oil jumps back above $62
World oil prices jumped back above $62/barrel in London on Wednesday following news that energy stockpiles in the United States tumbled across the board last week, traders said.
The price of Brent North Sea crude for April delivery rose $1.14 to $62.53/barrel in electronic deals.
New York's main oil futures contract, light sweet crude for delivery in April, gained $1.18 to R61.87/barrel in pit trading.
Read more at FIN24.co.za
The price of Brent North Sea crude for April delivery rose $1.14 to $62.53/barrel in electronic deals.
New York's main oil futures contract, light sweet crude for delivery in April, gained $1.18 to R61.87/barrel in pit trading.
Read more at FIN24.co.za
Wednesday, February 28, 2007
Oil sinks on Chinese sell-off
Oil prices plunged in Asian trade on Wednesday in reaction to steep falls in the Chinese stock market on Tuesday and declines in bourses worldwide, said traders.
At 04:00 GMT New York's main oil futures contract, light sweet crude for delivery in April, was down $1.17 to $60.29 per barrel from $61.46 in late US trades.
Before its fall, the contract reached as high as $62.65 in US hours.
Brent North Sea crude for April delivery was down 96 cents at $60.40 a barrel.
Traders said the selloff in the Chinese stock market and declines in global markets drove crude prices lower.
Read more at FIN24.co.za
At 04:00 GMT New York's main oil futures contract, light sweet crude for delivery in April, was down $1.17 to $60.29 per barrel from $61.46 in late US trades.
Before its fall, the contract reached as high as $62.65 in US hours.
Brent North Sea crude for April delivery was down 96 cents at $60.40 a barrel.
Traders said the selloff in the Chinese stock market and declines in global markets drove crude prices lower.
Read more at FIN24.co.za
Tuesday, February 20, 2007
European stocks slip as company updates disappoint
European shares retreated on Tuesday from six-year highs hit in the previous session, hurt by disappointing updates from firms including Cadbury Schweppes and Carlsberg.
Energy stocks also crowded the losers list, with Total and BP both down 0.5 percent as London Brent crude extended losses, down 0.5 percent at below $58 a barrel.
By 1225 GMT, the pan-European FTSEurofirst 300 index was 0.3 percent weaker at 1,545.1, easing from a six-year high of 1,552.6 struck on Monday.
The benchmark index is up about 4 percent so far this year, boosted by mostly stronger-than-expected results in recent weeks and mergers and acquisitions.
Read more at Reuters South Africa
Energy stocks also crowded the losers list, with Total and BP both down 0.5 percent as London Brent crude extended losses, down 0.5 percent at below $58 a barrel.
By 1225 GMT, the pan-European FTSEurofirst 300 index was 0.3 percent weaker at 1,545.1, easing from a six-year high of 1,552.6 struck on Monday.
The benchmark index is up about 4 percent so far this year, boosted by mostly stronger-than-expected results in recent weeks and mergers and acquisitions.
Read more at Reuters South Africa
FTSE eases after 6-yr closing high, results in focus
Britain's FTSE 100 index ticked lower in early trade on Tuesday after hitting a new six-year closing high the previous session as investors pocketed gains after a slew of corporate results.
Oil shares suffered as crude prices hovered around $58 a barrel after dropping 1 percent a day earlier.
BP slipped 0.3 percent, while both Royal Dutch Shell and BG Group shed 0.5 percent.
At 0841 GMT, the FTSE 100 was down 7.8 points, or 0.12 percent at 6,436.6, having ended up 0.39 percent at 6.444.4 the previous session, a new six-year closing high. European shares also inched down.
Read more at Reuters South Africa
Oil shares suffered as crude prices hovered around $58 a barrel after dropping 1 percent a day earlier.
BP slipped 0.3 percent, while both Royal Dutch Shell and BG Group shed 0.5 percent.
At 0841 GMT, the FTSE 100 was down 7.8 points, or 0.12 percent at 6,436.6, having ended up 0.39 percent at 6.444.4 the previous session, a new six-year closing high. European shares also inched down.
Read more at Reuters South Africa
Sunday, February 18, 2007
Iran: no further OPEC cut if oil keeps rising
Iranian Oil Minister Kazem Vaziri-Hamaneh said on Saturday he did not expect another OPEC output cut if crude prices continued to rise, although he said that picture might change if prices dipped.
Several OPEC ministers have said there will be no need for more output cuts to add to pledged reductions of 1.7 million barrels per day. The latest cut was implemented in February. OPEC ministers are due to meet on March 15 in Vienna.
Read more at Reuters South Africa
Several OPEC ministers have said there will be no need for more output cuts to add to pledged reductions of 1.7 million barrels per day. The latest cut was implemented in February. OPEC ministers are due to meet on March 15 in Vienna.
Read more at Reuters South Africa
Friday, February 9, 2007
Oil at $60, touched month high on OPEC, US field
Oil prices rallied above $60 for the first time in a month on Friday before paring some gains, lifted by signs of falling crude exports from producer group OPEC and an outage at a U.S. oilfield.
U.S. crude oil futures gained 21 cents to $59.92 a barrel by 0818 GMT, after hitting the highest since January 3. London Brent crude was up 5 cents to $59.09.
OPEC's exports in January were down 200,000 barrels per day (bpd) from December, shipping data from Lloyd's Marine Intelligence Unit showed, bringing the cartel closer to its pledged supply cut of 1.2 million bpd from November.
The group's exports are expected to edge even lower in February, when OPEC planned to cut another 500,000 bpd, oil consultancy Oil Movements said in a separate report.
Read more at Reuters South Africa
U.S. crude oil futures gained 21 cents to $59.92 a barrel by 0818 GMT, after hitting the highest since January 3. London Brent crude was up 5 cents to $59.09.
OPEC's exports in January were down 200,000 barrels per day (bpd) from December, shipping data from Lloyd's Marine Intelligence Unit showed, bringing the cartel closer to its pledged supply cut of 1.2 million bpd from November.
The group's exports are expected to edge even lower in February, when OPEC planned to cut another 500,000 bpd, oil consultancy Oil Movements said in a separate report.
Read more at Reuters South Africa
Thursday, February 8, 2007
Truth and rumours
Recent woes at London-based hedge fund Red Kite - whether truth or rumour - have taken the shine off a number of commodities, but the market jostling may be concealing a secular change in fundamentals. If so, investors would need to closely examine the implications for innumerable listed metal and commodity stocks.
Commodities in general cruised into a protracted bull market early in 2002, in parallel with the dollar's entry into a longer-term bear market. For years, resources stocks have been the leaders on global equity markets, based on robust world economic growth, China's voracious demand for raw materials, and helpful supply-demand idiosyncrasies within each commodity market, ranging from crude oil to uranium.
Read more at MoneyWeb.co.za
Commodities in general cruised into a protracted bull market early in 2002, in parallel with the dollar's entry into a longer-term bear market. For years, resources stocks have been the leaders on global equity markets, based on robust world economic growth, China's voracious demand for raw materials, and helpful supply-demand idiosyncrasies within each commodity market, ranging from crude oil to uranium.
Read more at MoneyWeb.co.za
Sunday, January 28, 2007
Bull market intact
Investors can enjoy firming equity markets on the back of multiple expansions, triggered by cooled crude oil prices.
Despite an equities bull market of several years’ vintage, investors are likely to continue enjoying firming stock prices as time continues to march into 2007. Measured in dollar terms, global stock prices have more than doubled since early 2003, but rising profits have meant that a key measure of stock valuation is now at one of its least expensive levels in the past two decades.
Read Full Article at MoneyWeb.co.za
Despite an equities bull market of several years’ vintage, investors are likely to continue enjoying firming stock prices as time continues to march into 2007. Measured in dollar terms, global stock prices have more than doubled since early 2003, but rising profits have meant that a key measure of stock valuation is now at one of its least expensive levels in the past two decades.
Read Full Article at MoneyWeb.co.za
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