Europe
Monday, 13 May 2013 18:16
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LONDON: Crude prices slipped below $103 a barrel on Monday weighed by a stronger dollar and a drop to an eight-month low in oil demand in the world's second-largest consumer China.China's refinery crude throughput fell 3 percent in April from March, its lowest daily rate since last September, as refineries entered maintenance season. Implied oil demand in the country was up 3.2 percent in April from a year earlier to about 9.6 million barrels per day (bpd), the lowest in eight months.Brent crude slipped $1.07 cents to $102.84 barrel by 1010 GMT. US oil fell $1 cents to $95.04 a barrel."The economic data in China is not yet providing upward support. It is not that it is weak, it is simply not sufficient to support a bullish trend," Harry Tchilinguririan, head of commodity market strategy at BNP Paribas, said.A firm dollar, which makes oil more expensive for holders of other ...
LONDON: Speculators raised their net long positions in Brent crude oil futures and options in the week to May 7, but also increased their net short positions in gasoil, data from the IntercontinentalExchange (ICE) showed on Monday.Money managers raised their net long positions in Brent by 15,294 contracts to 124,035. At the same time they increased their net short position in ICE gasoil futures and options by 2,798 contracts to 9,933.Copyright Reuters, 2013 ...
LONDON: Global oil prices recoiled on Friday on profit-taking and as the dollar surged to a four-year high point against the yen, dealers said.Markets are awaiting the US federal budget figures for April, a speech from Federal Reserve chief Ben Bernanke, and a two-day Group of Seven finance meeting in Britain.Brent North Sea crude for delivery in June sank $1.42 cents to $103.05 per barrel in London afternoon deals.New York's main contract, West Texas Intermediate ...
LONDON: Brent crude futures fell more than $1 a barrel on Friday as supplies rose and doubts emerged over China's economy.By 1148 GMT, Brent was trading at $103.35, down $1.12.Copyright Reuters, 2013 ...
LONDON: OPEC will need to pump slightly more oil than it thought in 2013 and expects global consumption to be much higher in the rest of the year, signs of a stronger market that argue against any calls for supply restraint when the group meets on May 31.The Organization of the Petroleum Exporting Countries in a monthly report on Friday forecast 2013 demand for its crude will average 29.84 million barrels per day (bpd), up ...
LONDON: Brent oil prices dipped on Wednesday after a key US report showed that crude stockpiles had soared again last week to their highest level in 30 years.Brent North Sea crude for delivery in June dropped 57 cents to $103.83 per barrel in London late afternoon deals.New York's main contract, light sweet crude for June meanwhile rose 32 cents to $95.54 a barrel."Crude oil prices came under renewed pressure with Brent oil retreating below $104 ...
LONDON: Oil slipped below $104 a barrel on Wednesday as a rise in crude imports by China and a surprise jump in German industrial output could not shake off persistent concerns about global demand.China's daily crude imports in April rose 3.7 percent from a year ago and 3.5 percent from March, customs data showed, as refiners in the world's No.2 consumer took advantage of lower prices to replenish stocks.German industrial output unexpectedly rose 1.2 percent ...
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