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Oil prices dip as Middle East supply worries ebb NEW YORK: World oil prices on Monday fell as traders eyed the imminent resumption of Libyan crude exports and as Iraqi output remained unaffected by ongoing fighting in the country.US benchmark West Texas Intermediate for August delivery fell 53 cents to $103.53 a barrel on the New York Mercantile Exchange, the seventh straight decline, pushing the commodity to the lowest closing price since June 6.European benchmark Brent oil for delivery in August shed 40 cents to $110.24 a barrel in London."The lack of geopolitical risk is forcing oil lower," said Bart Melek, head of commodity strategy at TD Securities.Sunni rebels have overrun swathes of Iraq, but after nearly four weeks of fighting, they have yet to directly threaten the key oil-producing region in the country's south. The Iraq situation "hasn't cooled down, but there's less anxiety about Iraqi barrels being lost," said Andy Lepow, trader and broker at Jefferies Bache.Analysts ...

Oil prices fall on Libya output prospect NEW YORK: Oil prices tumbled Wednesday on the prospect of higher Libyan output joining ample global supplies and as traders continued to book profits from a sharp rally a week ago.The latest weekly US petroleum report showed a larger-than-expected decline in crude inventories that nevertheless remained close to record highs.US benchmark West Texas Intermediate for August slid lower for the fifth straight trading session, losing 86 cents, or 0.8 percent, to close at $104.91 a ...
Oil prices ease; rebels hit Colombian production NEW YORK: Global oil prices slipped Monday amid new signs of higher OPEC production but the market was still cautious amid ongoing Iraq violence and a rebel attack on a Colombian pipeline.US benchmark West Texas Intermediate for August delivery dipped 37 cents to $105.37 a barrel, with losses capped partly by stubborn Iraq concerns.In London deals, Brent crude for delivery in August sank 94 cents to $112.36 a barrel from Friday's close.Ongoing tensions in Iraq ...
Oil prices mixed as Iraq keeps markets on edge NEW YORK: Global oil prices traded in mixed fashion ahead of the weekend Friday, with Brent slightly higher as traders watched developments in the jihadist-led offensive in Iraqi, OPEC's second-largest oil producer.US benchmark West Texas Intermediate for August settled 10 cents lower at $105.74 a barrel on the New York Mercantile Exchange.The European benchmark, Brent crude for delivery in August, rose nine cents to close at $113.30 a barrel in London."We see something of an ...
US oil prices up on crude export report NEW YORK: New York oil prices were lifted Wednesday by a report suggesting the US is easing a ban on crude exports even as inventory data suggested mixed energy demand in America.US benchmark West Texas Intermediate for August delivery rose 47 cents to $106.50 a barrel on the New York Mercantile Exchange.European benchmark Brent oil for August delivery dropped 46 cents to $114 a barrel in London.A report late Tuesday in the Wall Street Journal ...
Oil prices diverge as market eyes Iraq crisis NEW YORK: World oil prices diverged on Tuesday, holding close to recent peaks amid ongoing concerns over violence in crude-producer Iraq.US benchmark West Texas Intermediate (WTI) for August dipped 14 cents to close at $106.03 a barrel on the New York Mercantile Exchange. In London, European benchmark Brent crude for delivery in August settled at $114.46 a barrel, a gain of 34 cents from Monday.Both futures contracts fell Monday after striking nine-month peaks late last ...
Oil prices fall as Iraqi output stays on line NEW YORK: World oil prices fell Monday as investors reassessed a political crisis in Iraq that remains concerning, but has yet to result in crude supply disruptions. US benchmark West Texas Intermediate for August delivery dropped 66 cents to $106.17 a barrel on the New York Mercantile Exchange.European benchmark Brent oil for August delivery fell 69 cents to $114.12 a barrel in London.Iraq remained in focus as US Secretary of State John Kerry Monday pledged ...

 



 
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Annual2012/13
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