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Oil prices fall, US contract hits January low NEW YORK: World oil prices fell Tuesday , with the New York benchmark below $95 a barrel for the first time since January ahead of the weekly US inventories report and the contract's expiration.West Texas Intermediate (WTI) for delivery in September tumbled $1.93, closing at $94.48 a barrel.In London Brent North Sea crude for October delivery, the key European futures contract, slipped a modest four cents to finish at $101.56 a barrel.Earlier in the session Brent sank to $101.07, its lowest level since late June 2013.The September WTI was under technical pressure as speculative traders sold off ahead of Wednesday's contract expiration, said Robert Yawger of Mizuho Securities USA."People are unwinding some of the contract they have on their book," Yawger said.The downward trend was exacerbated by market expectations of a third consecutive week of increases in crude oil supplies at the Cushing, Oklahoma terminal, the price settlement point for ...

Brent falls to 14-month low on improving global supply NEW YORK: Brent crude prices fell to a 14-month low on Tuesday, giving up early gains as recovering Libyan output, sustained Iraqi production and weak demand offset concerns about threats to supply."It is still under pressure from a combination of factors: plentiful supply, a lack of supply outages and weak refinery demand. In addition, the continued withdrawal of speculative financial investors is exacerbating the downward movement," Commerzbank said in a research note on Tuesday.Brent crude ...
Oil prices fall on easing geopolitical fears NEW YORK: Oil prices slid lower on Monday on easing concerns about conflicts in Ukraine and Iraq and increased output by Libya.US benchmark West Texas Intermediate for delivery in September finished trade at $96.41 a barrel, shedding 94 cents from Friday's closing level.The key European futures contract, Brent North Sea crude for October, sank by $1.93 to settle at $101.60 a barrel, its lowest level since June 2013."The crude complex starts this week by being ...
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 ...
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 ...


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Foreign Debt $61.805bn
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WeeklySeptember 18, 2014
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