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Oil prices slip on profit taking, Ukraine attack on rebels NEW YORK: Global oil prices slid on Tuesday as traders took profit after a long holiday weekend and Ukraine's new president launched a fresh offensive against rebel groups, giving traders an impression of stability in spite of renewed violence.Analysts expect any price weakening to be brief as Libyan oil exports fell further and conflict in the eastern Ukrainian city of Donetsk could raise the risk premium.Brent was down 25 cents at $110.07 a barrel by 11:29 a.m. EDT (1529 GMT). The contract touched an intraday peak of $111.04 a barrel on Thursday, its highest in more than two and a half months.U.S. light crude oil was down 18 cents at $104.17. U.S. gasoline fell 2 cents to $3.0026 a gallon as traders sold long positions taken before Monday's holiday in the U.S. for Memorial Day, which marks the start of the summer driving season."We're seeing pressure on gasoline as we ...

Canada crude-by-rail exports reach record high of 160,000 bpd CALGARY: Canadian exports of crude oil by rail hit a record high of 160,000 barrels per day in the first quarter of 2014, Canada's National Energy Board says, a more than 50 percent rise from the same period a year earlier.Canada shipped 160,164 bpd out of the country by rail between January and March, a sharp rise from the first quarter of 2013, when it exported 105,632 bpd, the NEB said on Friday. The first-quarter ...
Brent holds above $110 as geopolitical worries support NEW YORK: Brent and US crude futures pushed higher on Friday, supported by the crises in Ukraine and Libya as well as positive economic data in the world's top two oil consumers, the United States and China. Both Brent and US crude posted weekly gains a second straight week. Investors watched Ukraine, a main gas supply route to Europe from Russia, where presidential elections are set for Sunday after Kiev said more than a dozen ...
Oil market slips on profit taking NEW YORK: World oil prices slipped Thursday as dealers took profits from the previous day's bumper gains that were driven by signs of strong US crude demand.In New York, the US benchmark, West Texas Intermediate (WTI) for delivery in July, fell 33 cents to $103.74 per barrel.Brent North Sea crude for July delivery dropped 19 cents to $110.36 in London trade.Crude futures had rallied on Wednesday following news of tumbling crude reserves in top consumer ...
ExxonMobil finds promising shale oil deposit in Argentina BUENOS AIRES: ExxonMobil said Wednesday it has found a promising shale oil deposit in southern Argentina, on par with some of the best of its kind in the United States.The US oil giant started work last year in Vaca Muerta, in Neuquen province, in the southern Patagonia region.Vaca Muerta is a huge deposit that ranks Argentina second in the world for shale gas reserves and fourth for potential shale oil reserves.The United States is the ...
Oil prices mixed on supply factors WASHINGTON: Oil prices were mixed on Tuesday as traders tracked the supply outlook amid unrest in Libya, the Ukraine-Russia crisis and on the eve of US inventory data.The US benchmark, West Texas Intermediate (WTI) for delivery in June, dipped 17 cents to $102.44 a barrel ahead of the release of US energy stockpiles data.Brent North Sea crude for July gained 32 cents to stand at $109.69 a barrel in London trade."Further unrest in Libya is ...
US oil rises on weak dollar, sluggish China weighs on Brent NEW YORK: US oil prices rose on Monday as a weak US dollar prompted buying, while Brent prices fell as concerns about China's slowing economy dragged global equities down and outweighed low Libyan output.The U.S. dollar fell to its lowest in more than three months against the yen, making dollar-denominated commodities cheaper for buyers using the Japanese currency.Shanghai shares hit a three-week low and European equities slumped after data on Sunday showed growth in average ...


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