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Daily: Worldwide oil recovers from a 4-year low on the end-of-week short covering
Worldwide crude oil prices recovered on Friday, after plunging to the weakest level in about four years earlier in the day, as the end-of-week short-covering stagnated a near four-month rout. Brent crude for November delivery rose 16 cents to settle at $90.21 a barrel after earlier slipping to $88.11, the lowest level since December 2010. U.S. November crude increased by just 5 cents to close at $85.82 a barrel. The contract earlier reached a session low of $83.59, its weakest since July 2012.
read more... 13/10/2014
Statoil: Shah Deniz stake sold for $2.25 billion to Petronas
Norway's Statoil has vended a stake of 15% in the Azeri gas project Shah Deniz to Malaysia's Petronas for $2.25 billion, the newest asset the company is vending to guard its cash flow and profits to shareholders.
read more... 13/10/2014
Daily: Brent crude loses ground on concerns over global economy, supply
Brent stroke below $90 a barrel on Thursday for the first time since the summer 2012, dragged down by pessimistic outlook and increasing oil stockpiles curbed energy prices. Brent crude for front-month delivery decreased $1.33 to settle at $90.05, its weakest settlement since June 2012. WTI crude for November delivery closed at $85.81, its lowest level since December 2012, and continued to slip in post-settlement trading to $85.02.
read more... 10/10/2014
Daily: World crude oil prices decline on pessimistic economic and demand growth forecasts
Worldwide crude oil prices plunged on Tuesday to settle at their weakest in more than two years, dragged down by pessimistic economic and demand growth forecasts. Brent crude for November delivery dipped by 68 cents to settle at $92.11 a barrel. Brent slipped to a contract low of $91.25 on Monday before recovering in late trading. WTI crude for November delivery declined by $1.49 to $88.85, then fell further in late trade.
read more... 08/10/2014
UK-based company discovers oil offshore Senegal
An Edinburgh-based exploration firm has made known the finding of oil off Senegal in West Africa.
read more... 08/10/2014