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Daily: Crude oil sinks on both sides of Atlantic on U.S. budget standoff
Crude oil prices dropped on the both sides of Atlantic on Wednesday as the biggest weekly increase of U.S. crude stockpiles amplified the market’s concerns that Washington’s budget standoff would slash demand in the United States. Meanwhile, Brent crude slipped $1.10 to settle at $109.06 per barrel, after settling higher on Tuesday for a third consecutive session. U.S. oil dropped $1.88 to $101.61 per barrel.
read more... 10/10/2013
Chevron abandons the exploration of shale gas in Lithuania
U.S. oil and energy giant Chevron has announced it has decided to abandon the tender to explore shale gas in Lithuania because of the unfinished legislative base for hydrocarbon exploration in Lithuania.
read more... 09/10/2013
Daily: British gas drops by 4 pct on oversupplied market
Crude oil prices on both sides of the Atlantic rose on Tuesday as geopolitical risk returned into the markets, even as the dollar index turned positive after a mid-morning phone call between U.S. President Barack Obama and U.S. House Speaker John Boehner over the budget crisis. Meanwhile, Brent increased by 48 cents to settle at $110.16 a barrel, after earlier recording gains of over $1. U.S. oil traded 46 cents higher to $103.49, after earlier gaining over $1.
read more... 09/10/2013
Daily: Crude oil prices pare losses after pipeline resumes activity
Crude oil prices on both sides of Atlantic pared losses on Monday as operations of the Seaway oil pipeline delivering crude oil from Cushing, Oklahoma to Gulf Coast refineries, resumed after a short shutdown. Cushing represents the delivery point for the U.S. oil futures contract. Meanwhile, U.S. crude oil dropped by 81 cents to settle at $103.03 a barrel, after trading close to $2 a barrel lower at $101.86 earlier in the session. The contract dipped below the 100-day moving average of $102.45. Brent crude futures pared earlier losses to settle 22 cents higher at $109.68 per barrel, after earlier trading as low as $107.89.
read more... 08/10/2013
Daily: Crude oil prices register modest gains on US budget impasse
Crude oil prices registered modest gains on Friday, as the budget impasse in the United States continued and uncertainty about when it would finish grasped the market. World leaders and analysts fear the government shutdown would hurt economic growth and slash oil demand in the Unites States.
read more... 07/10/2013