Europe
Monday, 15 April 2013 17:43
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LONDON: Brent oil prices plunged Monday to a new eight-month low near $100 per barrel, mirroring losses across financial markets, after disappointing first-quarter growth data in top global energy consumer China.In earlier morning deals, Brent North Sea crude for delivery in May slid to $100.55 per barrel, which was the lowest level since July 13, 2012. It later stood at $101.00, down $2.11 from Friday.New York's main contract, West Texas Intermediate (WTI) light sweet crude for May, dived to a four-month low at $88.05, before pulling back to $88.53, down $2.76 from Friday's closing level."The week opened with heavy losses across the oil markets reflecting the current bearish momentum," said senior analyst Myrto Sokou at the Sucden brokerage in London."The recent Chinese economic data failed to meet analysts' expectations and added further pressure to the market that was already showing sharp losses following disappointing US economic data last week."She added: ...
LONDON: Speculators cut their net long positions in Brent crude oil futures and options in the week to April 9, to the lowest level this year, data from the Intercontinental Exchange (ICE) showed on Monday.Net length in gasoil futures fell to its lowest since July, the data showed.Money managers cut their net long positions in Brent by 25,212 contracts to 116,880, its lowest level since Dec. 24, and lowered their gasoil net long positions by ...
OSLO: Norway's top natural gas processing plant is expected to be back in full operation later on Saturday after its restart was unexpectedly delayed, gas system operator Gassco said. The Kollsnes plant on Norway's west coast was shut on Friday for maintenance but its restart took longer than expected because of low gas flows from the massive Troll field in the North Sea. Gas deliveries to the Kollsnes plant were still too low to declare ...
LONDON: North Sea oil output is set to fall by just over 2 percent in May from April, but supply remains ample by comparison with tepid refinery demand and is likely to keep Brent oil prices under pressure. Output from 12 crude streams tracked by Reuters will average 1.934 million barrels per day (bpd) in May based on the latest information from loading schedules and trading sources, down slightly from 1.977 million bpd in April. ...
LONDON: Global oil prices fell on Thursday after the International Energy Agency trimmed its forecast for world energy demand growth.Brent North Sea crude for delivery in May dipped 43 cents to $105.36 per barrel in afternoon deals in London.New York's main contract, West Texas Intermediate (WTI) light sweet crude for May shed 48 cents to $94.17 a barrel.The Paris-based IEA forecast that global demand for oil would grow by 795,000 barrels per day to a ...
LONDON: North Sea Brent crude oil rebounded more than $1 per barrel on Monday, recovering from eight-month lows on hopes that global economic growth would bring higher demand for fuel.Brent futures for May rose $1.05 per barrel to a high of $105.17 before easing back slightly to trade around $105.05 by 0839 GMT.Brent hit an eight-month low of $103.62 per barrel on Friday after disappointing US jobs data, but traders said the sell-off may have ...
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