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US oil prices fall to six-month low on demand concerns NEW YORK: Oil prices in New York Tuesday fell to a six-month low on concerns about weak gasoline demand in the US and lackluster Chinese economic data.US benchmark West Texas Intermediate for September delivery dropped 91 cents to $97.38 a barrel on the New York Mercantile Exchange.European benchmark Brent oil for September delivery fell 80 cents to $104.61 a barrel on the New York Mercantile Exchange.WTI, which has fallen five of the last six days, dropped again as traders looked ahead to Wednesday's weekly US energy inventory report. Analysts expect a 1.7 million drop in oil inventories, but a rise in both gasoline and distillate stocks, according to a survey of analysts by the Wall Street Journal.Weak demand for petroleum products has been "a persistent overhang" all summer during the peak driving season, said John Kilduff, founding partner of hedge fund Again Capital.Analysts also cited disappointing data from China, the ...

Oil prices up on turmoil in Iraq, Libya NEW YORK: Oil prices moved higher on Monday following a weekend of turmoil in key petroleum producers Libya and Iraq.US benchmark West Texas Intermediate for September delivery snapped a five-day losing streak, gaining 41 cents to $98.29 a barrel on the New York Mercantile Exchange.European benchmark Brent oil for September delivery rose 57 cents to $105.41 a barrel in London.The rally came on continued violence in Libya, where at least 22 more people died in ...
Oil plunges below $105 on oversupply, weak demand NEW YORK: Brent crude oil fell more than $1 to hit a two-week low on Friday, slipping below $105 a barrel in its third straight day of losses as oversupply in the Atlantic basin and low demand outweighed worries over political tensions in the Middle East, North Africa and Ukraine.Analysts say they expect global oil production to exceed demand this year, and a supply glut has already built up in the West African and European ...
Oil prices rise ahead of weekend, US oil stabilizes NEW YORK: Oil prices rose Friday, with the New York contract stabilizing, as traders braced for a weekend that could see escalating geopolitical tensions in Ukraine and the Middle East.The US benchmark futures contract, West Texas Intermediate (WTI) for September, edged up two cents to $102.09 a barrel.In London, Brent North Sea crude for delivery in September settled at $108.39 a barrel, leaping $1.32 from Thursday's closing level.Traders were making some "readjustment" to the WTI ...
Oil prices climb as US crude stocks fall NEW YORK: World oil prices advanced on Wednesday after the US government reported a surprisingly large decline in the nation's oil inventories.US benchmark West Texas Intermediate for September delivery gained 73 cents to $103.12 a barrel in its first day of trade on the New York Mercantile Exchange.European benchmark Brent oil for September delivery climbed 70 cents to $108.03 a barrel in London."A drop in (US) oil inventories gave crude prices a lift," said analyst ...
Oil prices drop despite Ukraine, Gaza worries NEW YORK: Oil prices fell modestly on Tuesday despite geopolitical tensions over war-torn Ukraine and a raging battle in the Gaza Strip.The US benchmark, West Texas Intermediate (WTI) for August, dipped 17 cents to close at $104.42 a barrel on the contract's final day of trade on the New York Mercantile Exchange.Brent North Sea crude for delivery in September fell 35 cents to settle at $107.33 a barrel in London trade."The rebound that we've seen ...
Mexico approves oil and gas reform legislation MEXICO CITY: Mexico's Senate has approved legislation to implement historic constitutional reform that would open the country's oil and gas industry to foreign investment for the first time since 1938.In an 85-26 vote, lawmakers passed the last of four packages of laws Monday to end the monopoly held by state oil company Pemex for 75 years in the exploration and exploitation of energy resources.The Chamber of Deputies must now vote on the measures, which the ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
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MonthlyAugust
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WeeklyOctober 10, 2014
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