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US oil rises after stockpiles report points to demand NEW YORK: Global oil prices rose on Wednesday, with US prices gaining a boost from a bullish stockpiles report and another wintry blast of cold hitting the country.New York's main contract, West Texas Intermediate (WTI) for delivery in April, gained 76 cents over the session, closing at $102.59 a barrel.Brent North Sea crude for April ticked up one cent to settle at $109.52 in London trade.The US Department of Energy's weekly petroleum stockpiles report lifted New York crude prices in morning trade, with its details pointing to potential improvement in demand in the world's largest crude-oil consumer.Commercial crude oil supplies rose only by 100,000 barrels last week, one-eighth of what analysts expected.And supplies at the Cushing, Oklahoma, depot, which serve as a reference for WTI, fell by 1.1 million barrels, supporting prices, said Andy Lipow of Lipow Oil Associates.The opening of the southern leg of the Keystone XL pipeline, bringing ...

Oil prices fall ahead of US stockpiles report NEW YORK: Oil prices sank on Tuesday as traders expected a rise in US commercial crude stockpiles and worried about China's economic health.New York's main contract, West Texas Intermediate for delivery in April, sank 99 cents to close at $101.83 a barrel.In London trade, Brent North Sea crude for April tumbled to $109.51 a barrel, down a hefty $1.13 from Monday's close.The markets appeared under pressure from profit taking ahead of Wednesday's weekly US petroleum ...
US oil slips on warm-up, demand for diesel wanes NEW YORK: US crude oil fell more than $1 per barrel on Tuesday on expectations that inventories are building and diesel demand is falling as winter weather eases. Brent crude fell also, though not by as much, as traders weighed more signs of slowing growth in China against persistent oil production outages in Libya and South Sudan that have supported the European benchmark's prices. US commercial crude oil inventories likely rose last week by 1.4 ...
U.S. gasoline rose almost 12 cents over two weeks: survey NEW YORK: The average price for a gallon of gasoline in the United States rose almost 12 cents over the past two weeks as violent crises in three areas of the world heightened concerns in the oil market.A gallon of regular grade gasoline increased 11.67 cents to an average retail price of $3.41, according to the Lundberg survey released on Sunday. In the previous two-week period, the price had declined by less than two cents ...
US crude rises as cold weather feeds heating oil demand NEW YORK: US crude oil prices rose on Wednesday as a fresh bout of freezing weather boosted heating oil demand, while traders weighed concerns that political tensions in Africa and Venezuela could squeeze global supplies. An unusually cold winter in North America has drawn heating oil inventories down to record lows. Weekly data due on Thursday is expected to show a 2-million-barrel drop last week in US distillates stocks, including heating oil, according to a ...
US natural gas futures up 6.5pc on forecast for cold NEW YORK: US natural gas futures prices rose nearly 6.5 percent on Tuesday as forecasts for below-normal temperatures across the United States were expected to boost demand and shrink end-of-season stockpiles to their lowest level in 11 years.Unyielding cold weather this winter has shattered seasonal records and pushed natural gas prices as high as $5.73 per million British thermal units during the first week of February, the highest price since January 2010.The front-month US natural ...
US natural gas futures up 6pc with more cold expected NEW YORK: US natural gas futures prices rose nearly 6.5 percent on Tuesday as forecasts for below-normal temperatures across the United States were expected to boost demand and shrink end-of-season stockpiles to their lowest level in 11 years.Unyielding cold weather this winter has shattered seasonal records and pushed natural gas prices as high as $5.73 during the first week of February, the highest price since January 2010.The front-month US natural gas contract for March delivery ...

 



 
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