Articles Tagged "billion"

Crude oil headed for $71.55 a barrel

Crude Investing News reports crude oil did well for about 4 days and fell on Tuesday. Crude oil for June delivery declined as much as 77 cents, or 1.4 per cent, to $53.70 a barrel in electronic trading on the New York Mercantile Exchange. Oil is up 21 per cent this year. After nose-diving from [...]

Oil Price Peaks And Slides

Crude Investing News reports oil prices sliding and peaking at various periods. Oil prices soared higher on the prospects of a rebound in energy demand. “The market thinks the worse is behind us and that we’re heading toward recovery at the end of the year, early next year,” Fitzpatrick said. Spreading worldwide recession has ravaged [...]

Canadian merger as crude breaches $51 per barrel

Crude Investing News reports crude markets improves with merger of SunCorp and Petro-Canada announcement. The merger comes at a time when oil prices are coming off recent lows and Petro-Canada was trading around the $30 mark, or half the 52 week high of $61.85.  The combined company will have daily production of approximately 680,000 barrels [...]

Demand set to recover soon?

Heavy Oil Investing News reports the recent jump in oil price was caused by a drop in inventories. The rally in oil contrasted with the grim global economic picture. The U.S. Labor Department said the number of American workers drawing unemployment aid jumped to a record high of nearly five million, highlighting the deterioration in the [...]