Thursday 31 July 2014

Oil slips towards $103 on US demand worries

Brent crude oil dropped towards $103 per barrel on Wednesday after data showing a surprise jump in US gasoline stockpiles sparked worries that summer demand in the world's top oil consumer could be weaker than expected. The Am


Oil plunges as US, IEA release oil stocks

Oil fell sharply on Thursday, with North Sea Brent down more than $6 per barrel, after the International Energy Agency said 60 million barrels of oil would be released from strategic stockpiles to help the global economy. The announcement


Oil edges higher on Saudi remarks

Oil prices went up slightly on Tuesday, with investors cautious ahead of expected monetary easing from the US Federal Reserve, capping gains from Saudi Arabia's upward shift in price tolerance. US crude for December rose 12 cents to $8


Oil tops $72 as China manufacturing steps up

Oil rebounded half a per cent to top $72 on Wednesday after China's manufacturing industry accelerated last month, easing investors' concern about the faltering pace of global economic recovery. Prices tumbled 3.7 per cent on Tuesd


Oil nears $70 on signs of easing US glut

Oil rose to hold above $69 on Wednesday after a report showing a drop in US gasoline stockpiles signalled a glut centred on the world's top consumer will ease as motor fuel demand reaches its summer peak. Prices slumped more than 2 per


Oil falls below $86 on firm dollar

Oil fell below $86 a barrel on Tuesday, dampened by the stronger dollar and an expected rise in US crude and fuel stocks, after hitting a 19-month high on  positive economic news the previous day. The dollar hovered near 8-1/2-month h


Iran halts fuel exports, stockpiles for winter

Iran, a regular exporter of fuel oil to Asia, will halt shipments of the heavy fuel from August as it builds domestic stocks ahead of winter, and due to a heavy fourth-quarter maintenance season, industry sources said on Thursday. Iran has

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