Europe
Friday, 10 May 2013 18:27
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LONDON: Global oil prices recoiled on Friday on profit-taking and as the dollar surged to a four-year high point against the yen, dealers said.Markets are awaiting the US federal budget figures for April, a speech from Federal Reserve chief Ben Bernanke, and a two-day Group of Seven finance meeting in Britain.Brent North Sea crude for delivery in June sank $1.42 cents to $103.05 per barrel in London afternoon deals.New York's main contract, West Texas Intermediate (WTI) or light sweet crude for June, shed $1.55 cents to $94.84 a barrel."Brent crude oil retreated sharply on Friday, extending losses toward $103 per barrel, due to some profit taking, as investors try to remain cautious ahead of the release of the US federal budget details later today and the G7 meeting," said analyst Myrto Sokou at the Sucden brokerage."WTI crude oil also fell sharply toward $95 per barrel area, while the stronger US ...
LONDON: Brent crude futures fell more than $1 a barrel on Friday as supplies rose and doubts emerged over China's economy.By 1148 GMT, Brent was trading at $103.35, down $1.12.Copyright Reuters, 2013 ...
LONDON: Brent oil prices dipped on Wednesday after a key US report showed that crude stockpiles had soared again last week to their highest level in 30 years.Brent North Sea crude for delivery in June dropped 57 cents to $103.83 per barrel in London late afternoon deals.New York's main contract, light sweet crude for June meanwhile rose 32 cents to $95.54 a barrel."Crude oil prices came under renewed pressure with Brent oil retreating below $104 ...
LONDON: OPEC will need to pump slightly more oil than it thought in 2013 and expects global consumption to be much higher in the rest of the year, signs of a stronger market that argue against any calls for supply restraint when the group meets on May 31.The Organization of the Petroleum Exporting Countries in a monthly report on Friday forecast 2013 demand for its crude will average 29.84 million barrels per day (bpd), up ...
LONDON: Oil slipped below $104 a barrel on Wednesday as a rise in crude imports by China and a surprise jump in German industrial output could not shake off persistent concerns about global demand.China's daily crude imports in April rose 3.7 percent from a year ago and 3.5 percent from March, customs data showed, as refiners in the world's No.2 consumer took advantage of lower prices to replenish stocks.German industrial output unexpectedly rose 1.2 percent ...
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