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Daily Energy Overview, Wednesday, March 09, 2011

U.S. crude oil futures traded down on Tuesday following the statement of the Kuwait’s oil minister about the OPEC’s possible increase in oil production to cover any supply deficit that could arise from the Libyan conflict. The U.S. crude for April delivery eased 42 cents to 105.02 dollars a barrel, while the ICE Brent for April delivery edged 2 percent down being traded at 113.06 dollars a barrel.

read more... 09/03/2011


Daily Energy Overview, Thursday, March 03, 2011

U.S. crude oil futures settled over 102 dollars on Wednesday for the first time since September 2008 as civil conflict expanded in Libya and an airstrike nearby country’s oil infrastructure deepened worries over a lasting disruption from OPEC countries.

read more... 03/03/2011


OPEC criticizes IEA for inconsistent oil supply view

The International Energy Agency (IEA) accused the OPEC of intentionally hesitated to boost the output of oil in order to maintain a higher level of oil prices. At the same time, OPEC criticizes the agency for providing inconsistent oil price view.

read more... 19/01/2011


Daily Energy Market Overview, Tuesday, January 18, 2011

Oil prices dropped on Monday following a stronger dollar and as main Alaskan oil pipeline became entirely operational after supply disruptions during more than a week, while an OPEC report indicated that the market was well supplied.

read more... 18/01/2011


Iran has found huge reserves of gas

Iran, OPEC's second largest oil exporter, has discovered a new gas field onshore with reserves valued at 50 billion dollars, Oil Minister Masoud Mirkazemi said on Sunday.

read more... 17/01/2011