Search Results for: crude
Brent crude falls to 2004 low as market rout heads into Christmas
December 21st, 2015
Brent crude oil prices fell to levels last seen in 2004 on Monday, dropping below the lows hit during the 2008 financial crisis on renewed worries over a global oil glut, with production around the world remaining at or near ...
Saudi Arabia Spends Billions to Get Asia Hooked on Its Crude Oil
December 17th, 2015
At the heart of Korea’s Onsan Refinery lies a street called “A.I. Naimi Road,” an homage to Saudi Arabia’s oil minister. The reason: state-owned Saudi Arabian Oil Co. holds a 65 percent stake in the complex. Taking a controlling ...
Russia to launch own crude benchmark in 2016
December 14th, 2015
Russia wants to see its domestic oil blends compete with Brent and WTI as primary global crude benchmarks, according to an official from the St. Petersburg International Mercantile Exchange (SPIMEX). “Our goal is to take a place among the ...
Brent Crude Falls; Oil Prices End at Nearly Seven-Year Lows
December 9th, 2015
Prices hit fresh seven-year lows on expectations that U.S. crude inventories rose Brent crude dipped below $40 a barrel Tuesday in a selloff that has raised a worrisome possibility: that oil prices could be even lower next year than ...
Brent slips on OPEC worry; U.S. crude steady ahead of inventory data
December 2nd, 2015
API says U.S. crude inventories rose by 1.6 mln bbls last week Reuters poll had cited 500,000 bbls draw instead U.S. crude falls in post-settlement trade after API data OPEC expected to keep output high at Friday meeting (Adds ...
Brent crude dips on firm dollar ahead of OPEC meeting
November 30th, 2015
Brent crude futures dipped on Monday as traders remained cautious ahead of an OPEC meeting later this week and as a widely expected U.S. interest rate hike strengthened the dollar. Oil prices are heading for declines of as much ...
OPEC Seen Holding the Line as $40 Crude Looms Over Vienna
November 24th, 2015
All 30 analysts surveyed see OPEC policy unchanged on Dec. 4 Saudi strategy taking effect even as other members protest It’ll take more than $40 crude to make OPEC change its mind, analysts said before the group’s Dec. 4 ...
Oil down more than 3% as U.S. crude stockpiles rise 6 straight weeks
November 5th, 2015
EIA reports 2.8 million-barrel weekly climb in crude supplies Oil futures lost more than 3% on Wednesday as U.S. government data showed that crude inventories rose for a sixth week in a row. Strength in the dollar added to ...
Oil falls after industry report shows surge in U.S. crude stocks
October 21st, 2015
Oil prices fell on Wednesday after data from an industry group showed a larger-than-expected build in U.S. crude inventories last week, fanning worries over global oversupply, even as a slightly weaker dollar provided some support. Brent crude for December ...
Crude oil treads water as oversupply, China economy concerns persist
October 14th, 2015
Crude oil futures traded largely unchanged on Wednesday after falling by just over one percent in the previous session on an International Energy Agency report that said the market would remain oversupplied for at least another year. Front-month Brent ...
