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Oil drops on news Libyan export terminals will reopen NEW YORK: Global oil prices fell on Monday after rebels agreed to reopen two of the four blockaded oil-export terminals in eastern Libya, suggesting the country's blockaded supplies might come back on the market.New York's West Texas Intermediate for delivery in May finished at $100.44 a barrel, a decline of 70 cents from Friday's close.Brent North Sea crude for May dropped 90 cents to settle at $105.82 a barrel in London."News from Libya (is) weighing on the prices," said Commerzbank analyst Carsten Fritsch."At the weekend, the government there agreed with rebels that the four oil terminals in the east of the country which have been occupied by rebels for eight months now will be opened step by step."Two smaller terminals with a combined export capacity of 200,000 barrels per day will open immediately. The two larger ports, with a capacity of 500,000 barrels per day, are to follow suit in ...

US crude jumps $1 on jobs data, Libya doubt NEW YORK: Crude oil prices on both sides of the Atlantic rose on Friday as data showed strong jobs growth in the United States and investors cast doubt on reports Libya's oil ports were about to reopen.The March US non-farm payrolls report showed 192,000 jobs were added in March in major test of the argument that the economic weakness of January and February was due to bad weather. Expectations had been building that an eight-month ...
Oil rebounds on hazy prospects for Libya output boost NEW YORK: Global oil prices rebounded Thursday from earlier losses as dealers grew skeptical Libyan rebels were close to a deal on lifting blockades that would boost the country's oil production.New York's West Texas Intermediate (WTI) for delivery in May closed at $100.29 a barrel, up 67 cents from Wednesday. The US benchmark contract last closed above $100 on March 31.Brent North Sea crude for May climbed $1.36 to settle at $106.15 a barrel ...
Colombia importing 7,000 bpd diesel, gasoline after refinery closure CARTAGENA: Colombia is importing about 7,000 barrels per day of diesel and gasoline during an upgrade at its 80,000-bpd Cartagena refinery, which is closed until the end of the year, the minister of mines and energy said on Wednesday.The imports consist of an average 4,000 bpd of diesel and 3,000 bpd of gasoline, said Amylkar Acosta at the Colombia Oil & Gas Conference in the coastal city of Cartagena."These 7,000 barrels have already begun to ...
Ukraine tension, falling US stocks trim closses NEW YORK: Oil prices reversed an early drop and ended with modest losses on Wednesday, with tensions over Ukraine and a fall in US stockpiles offsetting selling pressure.In New York trade, the benchmark West Texas Intermediate crude for May delivery dipped 12 cents to $99.62 a barrel. In London, Brent prices hit a five-month low of $103.95 before pushing back to $104.79, down 86 cents.Worries over Russia's intentions toward Ukraine were revived when NATO's top ...
Brent crude loses over $1 as Libya port deal nears NEW YORK: Brent oil fell by nearly $1 to its lowest price in almost five months on Wednesday, pulling U.S. crude lower with it, on expectations that rebel-held Libyan ports will reopen within days.Crude prices on both sides of the Atlantic had tumbled nearly 2 percent on Tuesday after weak Chinese and European manufacturing data dampened the outlook for global demand and news emerged of fresh talks to reopen Libyan ports after months of closures.The ...
Oil prices slide on China slowdown worries NEW YORK: Oil prices slid sharply lower on Tuesday after tepid manufacturing data in China added to concerns about slow growth in the world's largest energy consumer. The benchmark US futures contract, West Texas Intermediate for delivery in May, finished New York trade at $99.74 a barrel, down $1.84, or 1.8 percent, from Monday's close.Brent North Sea crude for May sank $2.14, or almost 2.0 percent, to $105.62 a barrel in London trade."Concerns about the ...


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