Friday 22 May 2015
 
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oil price

Oil prices inch up, but stay within range

Crude oil prices began rising after initial dips on Thursday, but remained within a narrow range that has been in place since late April as contradicting views of an oversupplied versus a tightening market push prices up and down.

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Oil rises on strong Japan, Australia economic data

Crude oil prices bounced back on Wednesday from steep falls in the previous session as strong Japanese economic growth surprised markets and the business outlook in Australia also seemed to brighten, stoking producer hopes of increased demand.

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Oil extends losses over weak China data

Brent oil prices dropped on Tuesday on signs of weakness at the world's top energy consumer China, while US crude futures edged up on rising demand ahead of the summer driving season. Brent futures were down 9 cents at $66.18

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Qatar Petroleum to restructure in wake of oil price fall

State-owned Qatar Petroleum (QP) will announce a restructuring plan in the coming months to adapt to the drop in oil prices, the head of its wholly owned international subsidiary said. "The restructure comes at the right time

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Oil prices rise on Iraq, Yemen fighting

Oil prices edged up on Monday on supply concerns in the Middle East following fighting in Iraq and Yemen, but signs of strengthening US production capped gains. Front-month Brent futures were up 9 cents at $66.90 a barrel by 0311

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Oil falls on global economy concerns

Oil slipped on Thursday as weak data from the world's top economies raised concern about the outlook for global fuel demand, offsetting data that showed a large drawdown in US crude stockpiles last week. China, the world's

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Oil extends gains on drop in US crude stocks

Oil extended gains on Wednesday after posting its strongest daily rise in weeks in the previous session, supported by bets that US crude stockpiles will fall for a second straight week as production slows. US crude futures neared

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Oil prices dip on oversupply, Greece worries

Oil prices eased on Tuesday as the market remained oversupplied and the dollar gained on fears that Greece would not be able to repay its debts. Greece paid about 750 million euros ($836.70 million) to the International Monetary F

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GCC rethink construction plans over cheap oil

The construction outlook in the GCC is increasingly uncertain as governments review their capital spending plans against the backdrop of lower oil prices, said the organisers of an upcoming summit in Dubai, UAE. The implications o

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Oil off 2015 highs as Opec ‘won’t cut output’

Oil prices fell on Thursday after hitting 2015 highs in the previous session as an Opec delegate indicated the group would stick to its strategy of pursuing market share rather than cutting output and traders took profit from a multi-week rally.

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