Wednesday, 19 October 2011 23:56
Posted by Abdul Ahad
NEW YORK: US crude futures fell more than $2 and Brent crude more than $3 on Wednesday as concerns about Europe's economy and the region's debt woes outweighed government data showing crude oil inventories fell sharply last week in the United States.
On the New York Mercantile Exchange, November crude fell $2.25 to $85.99 a barrel by 2:31 p.m. EDT (1831 GMT), trading from $85.93 to $89.51.
ICE Brent December crude fell $2.75 to $108.40 a barrel, having traded from $108.12 to $111.85.
Copyright Reuters, 2011 ...
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NEW YORK: US crude futures fell more than $2 and Brent crude more than $3 on Wednesday as concerns about Europe's economy and the region's debt woes outweighed government data showing crude oil inventories fell sharply last week in the United States.
On the New York Mercantile Exchange, November crude fell $2.25 to $85.99 a barrel by 2:31 p.m. EDT (1831 GMT), trading from $85.93 to $89.51.
ICE Brent December crude fell $2.75 to $108.40 a barrel, having traded from $108.12 to $111.85.
Copyright Reuters, 2011 ...
WASHINGTON: US wholesale prices rose at their fastest pace in five months in September as the cost of gasoline surged, but a small gain in core prices suggested the price pressure was unlikely to be sustained.
While the jump in gasoline prices was seen as a blip, details of the report on Tuesday pointed to enough inflation pressure to keep the bar high for any further loosening of monetary policy by the Federal Reserve.
"There is no ...
NEW YORK: Brent crude oil fell below $110 a barrel on Tuesday after weaker-than-expected Chinese economic data prompted concern about demand growth, but prices pared earlier losses as Wall Street rallied.
China's economic expansion slowed to 9.1 percent in the third quarter, its third straight quarter of cooling growth and its weakest expansion since early 2009.
Reuters calculations suggest implied oil demand in China rose just 1 percent in September from a year earlier to about ...
NEW YORK: Brent crude prices fell on Monday after Germany's finance minister said an upcoming European Union summit would not produce a definitive resolution to the euro zone debt crisis.
The minister, Wolfgang Schaeuble, said European governments would not present a definitive plan for the sovereign debt crisis at the Oct. 23 summit, curbing investor optimism about prospects for tackling the region's problems.
Investor hopes had been stoked after finance ministers and central bankers of the Group ...
NEW YORK: US gas pipeline and energy storage giant Kinder Morgan announced Sunday it reached agreement to buy rival El Paso Corp for about $38 billion, including the assumption of $18 billion in debt.
Under the terms of the deal, El Paso shareholders will receive $26.87 per share in cash and stock, a premium of 37 percent over Friday's closing price.
"Kinder Morgan, Inc and El Paso Corporation today announced a definitive agreement whereby KMI will acquire ...
CARACAS: Venezuela has estimated an average price of $50 a barrel for its oil output in the 2012 budget, state media quoted an economic official as saying.
The South American OPEC member nation habitually underestimates the price for budgetary purposes in order to ensure it has room to maneuver in fiscal calculations.
Critics say that adds to an already murky use of massive oil revenues by President Hugo Chavez's government.
Venezuela's budget estimate this year was $40, whereas ...
NEW YORK: World oil prices fell Thursday as traders fretted about slowing demand in China after its trade surplus narrowed for a second straight month.
New York's main contract, light sweet crude for November, lost $1.34 to close at $84.23 per barrel.
In London, Brent North Sea crude for delivery in November slipped 36 cents to settle at $111.11 a barrel.
Chinese trade data sounded alarms over the pace of its economic growth and how that would impact ...
