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Oil price steady after new six-year low LONDON: Oil prices steadied Friday after New York crude reached a new multi-year low point against a backdrop of high supplies.US benchmark West Texas Intermediate (WTI) for September hit $41.35 a barrel -- the lowest level since March 2009.It recovered to $42.22 a barrel, down one cent compared with Thursday's close.Brent North Sea crude for September rose 12 cents to stand at $49.34 a barrel in London afternoon deals.Bernard Aw, a strategist at IG Markets, predicted prices to remain weak after the International Energy Agency on Wednesday forecast the global crude supply glut to last into next year."The IEA assessment that the supply glut situation would be extended beyond 2015 continues to contribute to the pessimistic outlook for energy," he said.The Organization of the Petroleum Exporting Countries this week said that its output in July rose by 100,700 barrels per day from the previous month to 31.5 million bpd. The ...
Oil prices steady after volatile week LONDON: Oil prices steadied Thursday after an up and down week, as traders tracked developments over China and an oversupplied market.Brent North Sea crude for delivery in September rose 16 cents to stand at $49.82 a barrel in London afternoon deals. US benchmark West Texas Intermediate for September dipped 16 cents to $43.14 a barrel compared with Wednesday's close.New York oil prices on Wednesday edged up from six-year low points as US oil supplies declined ...
Brent pares gains as oil glut returns to the fore LONDON: Brent crude prices pared gains on Thursday as the market weighed a burst of optimistic news on demand against the global overhang of physical oil. US stockpiles of crude and gasoline fell last week, data from the Energy Information Administration (EIA) showed on Wednesday, bolstering sentiment about the US market. But US crude futures turned negative as problems with a major refinery in the US Midwest cast doubt on the country's ability to process ...
Russia's Gazprom Neft recommends H1 dividend of 5.92 rbls/shr MOSCOW: The board of Gazprom Neft , the oil arm of state gas company Gazprom, has recommended paying 5.92 roubles ($0.0921) per share in first-half dividends, the company said in a statement on Thursday. Gazprom Neft paid 4.63 roubles per share in interim dividends last year. Copyright Reuters, 2015 ...
Oil prices fall after China devalues yuan LONDON: Oil prices fell on Tuesday after China devalued its currency in its latest effort to prop up economic growth, making dollar-priced commodities more expensive and weighing on the oil demand outlook for the world's top energy consumer. A slowdown in China's economy, which is still expected to grow by around 7 percent annually, has been a key driver for the sharp drop in oil prices over the past year along with rising global supplies. ...

 





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