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Oil surges on news of Ukraine attack on Russian convoy NEW YORK: Oil prices rebounded Friday amid mounting Ukraine geopolitical tensions after Kiev said Ukrainian forces had destroyed part of a Russian military convoy that entered its territory.US benchmark West Texas Intermediate for delivery in September, which had lost more than $2 Thursday, advanced $1.77 to close at $97.35 a barrel on the New York Mercantile Exchange. Brent North Sea crude for October jumped $1.46 to $103.53 a barrel in London trade. The European benchmark futures contract for September on Thursday tumbled $2.27 on its last day of trade.The announcement by Ukrainian President Petro Poroshenko that government artillery had destroyed a "considerable part" of the convoy late Thursday after it crossed into Ukraine rattled markets.The reports sent US and European stocks tumbling into the red, though Wall Street later rebounded."When we saw the headlines about Ukraine attacking this convoy, it made the market nervous about a Russian invasion that can ...

Oil jumps up after Ukraine says hit Russian armored force NEW YORK: Brent and US crude futures jumped more than $1 a barrel on Friday on news that Ukraine forces engaged a Russian armored column on Ukrainian soil. Ukrainian artillery destroyed a "significant" part of a Russian armoured column that crossed into Ukraine during the night, President Petro Poroshenko told British Prime Minister David Cameron, according to the presidential website. Russia, a major oil and natural gas producer, denied its forces crossed into Ukraine and ...
Oil prices rise; WTI up despite gain in US supplies NEW YORK: Oil prices pushed higher on Wednesday, as investors shrugged off a surprise increase in US commercial crude-oil stockpiles.US benchmark West Texas Intermediate (WTI) for September delivery rose 22 cents, finishing at $97.59 a barrel on the New York Mercantile Exchange.The main European futures contract, Brent North Sea crude oil for September, surged $1.26 higher to close at $104.28 a barrel in London trade, rebounding from a 13-month low the prior day.Both WTI and ...
Oil prices fall on weak demand forecast NEW YORK: Oil prices dropped Tuesday with the main European benchmark contract sinking to a 13-month low after the International Energy Agency slashed its demand outlook for 2014 and 2015.US benchmark West Texas Intermediate (WTI) for September delivery fell 71 cents to $97.37 a barrel on the New York Mercantile Exchange.European benchmark Brent oil for delivery in September tumbled $1.66 to $103.02 a barrel, its lowest closing price since July 1, 2013. Pointing to slower ...
Brazil may raise fuel prices by up to 6pc BRASILIA: The Brazilian government could increase domestic fuel prices at refineries by up to 6 percent after the October presidential election, a senior government source told Reuters on Monday. The official, who asked not to be named because of the sensitivity of the issue, said an increase of between 5.5 percent and 6 percent is a preliminary calculation and aims to help state-run oil company Petroleo Brasileiro, known as Petrobras. President Dilma Rousseff, who is ...
Oil prices mixed as market eyes Iraq, US supplies NEW YORK: Oil prices finished mixed on Monday as traders kept watch on turmoil in Iraq, while anticipating another drop in US crude-oil inventories. US benchmark West Texas Intermediate (WTI) for September delivery advanced 43 cents to $98.08 a barrel on the New York Mercantile Exchange.European benchmark Brent oil for September delivery fell 34 cents to $104.68 a barrel in London. Iraq remained in focus as President Fuad Masum accepted the nomination of Haidar al-Abadi ...
Mexico oil refinery fire death toll rises to three MEXICO CITY: The death toll from a fire at a northern Mexico oil refinery has risen to three, the oil company said on Sunday, after two more workers succumbed to their injuries.The fire broke out Friday at the complex in Ciudad Madero, a city bordering the US state of Texas, just two weeks after another blaze at the same refinery.State-run energy company Pemex said on Twitter that the workers were doing maintenance work on a ...


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WeeklyAugust 28, 2014
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