Markets - Energy
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NEW YORK: Oil fell a second straight day on Thursday in light volume trading, giving up early gains as investors remained cautious about prospects for economic growth in Europe and China.
Expiring front-month January Brent was the only oil contract to buck the downtrend, managing a 7-cent gain as it went off the board, with US January crude options expiration adding to the volatility.
"Brent is going into the expiry so we've got a bit of cover on that but the rest of the (crude) complex is taking it on the chin with all commodities," said Richard Ilczyszyn, chief market strategist and founder of iitrader.com in Chicago.
"I think this is an end-of-the-year trade as well, if you caught September moves into November and December, if you are a fund manager, you are going to try to end the year on an up note."
Front-month US crude slumped in September and hit a 2011-low ...
NEW YORK: US crude oil futures turned lower in choppy trading on Thursday after the dollar pared losses and as worry over the euro debt crisis persisted.
On the New York Mercantile Exchange, January crude was down 15 cents at $94.80 a barrel by 1O:12 a.m. EST. It had risen to a session high of $95.99 earlier.
Copyright Reuters, 2011 
LONDON: Oil prices climbed towards $106 on Thursday, supported by a weaker dollar and renewed buying interest after the steepest plunge in nearly three months wiped four percent off crude markets in the previous session.
Rekindled fears about Europe's debt crisis helped trigger a downturn across asset classes on Wednesday, while oil market losses were compounded by the lack of agreement by the Organization of Petroleum Exporting Countries (OPEC) on individual output allocations limiting oil supply.
"The ...
SINGAPORE: Brent crude futures rose towards $106 on Thursday, recouping some losses as investors seized the opportunity to buy after the previous session saw the biggest plunge in nearly three months, given worries over Middle East supply disruption.
Commodities plunged across the board on Wednesday, on renewed fears Europe's debt crisis would drag on, while crude was weighed down by the absence of action from a meeting of the Organization of Petroleum Exporting Countries (OPEC) to ...
NEW YORK: Oil prices sank more than five percent in New York Wednesday as the EU crisis returned to cloud the market and OPEC ministers embraced higher output without setting new quota rules.
New York's main contract, WTI light sweet crude for January deliver, dropped $5.19 dollars from Tuesday's close to end at $94.95 a barrel.
In London, Brent North Sea crude for January dived $4.48 to $105.02 a barrel.
The fall mapped the drop in the euro ...
MILAN: A Kazakhstan oil and gas company will buy a 10-percent stake in the giant Kazakh gas field owned by a global consortium that includes Chevron and ENI, the latter said on Wednesday.
The consortium will sell a 10-percent stake in the Karatchaganak field to KazMunaiGaz for one $1.0 billion (763 million euros), it said in a statement.
The deal, which was signed in the Kazakh capital Astana and which will take effect on June 30, 2012, ...More Articles...
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