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Daily: Crude oil prices pressured by Fed CEO
Crude oil prices were under pressure on Wednesday following the declaration of U.S. Federal Reserve CEO Ben Bernanke that the Fed should reduce the amount of money it injects into economy later this year, while higher crude stockpiles in the United States also hit prices.
read more... 20/06/2013
CNPC started construction of China's first shale gas pipeline
China National Petroleum Corp., the country's largest oil and gas producer and supplier, has announced it has started work on the country’s first pipeline for shale gas transportation in Sichuan Province.
read more... 20/06/2013
Russia increase its oil deliveries to China
In a move which aims to reduce oil exports to European market, Russia has recently announced that it intends to increase oil flows to Asia, making Beijing its top customer, which now imports a fifth of oil exports from the major crude oil producer in the world.
read more... 19/06/2013
Daily: Brent crude trades at 10-week high, but reverses to settle lower ahead of U.S. Fed meeting
Brent crude oil futures hit a 10-week high, settling near $107 a barrel on Monday as tensions in the Middle East intensified, but prices closed slightly lower on the day after a late sell-off in U.S. gasoline futures. U.S. crude oil reached a nine-month high near $99 a barrel but also reversed to end lower, with investors cautious ahead of the U.S. Federal Reserve's two-day policy committee meeting on Tuesday. Meanwhile, Brent crude oil futures ended down 46 cents a barrel at $105.47. U.S. crude eased 8 cents to settle at $97.77 a barrel.
read more... 19/06/2013
Daily: Brent up to its highest level in 10 weeks because of tensions in the Middle East
Brent crude futures were up 13 cents to $105.60 per barrel, after having increased to 106.67 on Monday, the highest level since April, due to increasing worries in the Middle East. Meanwhile U.S. oil dropped 3 cents to $97.74 after beating a nine-month high near $99 a barrel in the previous session.
read more... 18/06/2013