Brent Oil Reaches Lowest Level in 9 Months on Slowing Economic Growth
Oil – Bloomberg reported that Brent crude fell below $100 a barrel, its lowest since July, as signs of weak economic growth have lowered demand.
Articles Tagged "oil prices"
Oil Falls to Lowest Daily Drop in 5 Months, US Crude Inventories Reach Highest Since 1990
Oil – Reuters reported that oil prices dipped 3%, its lowest daily drop in 5 months, as crude inventories in the US reach their highest levels since 1990 according to the EIA.
Oil Falls on US Inventory Increase
Oil – Bloomberg reported that West Texas Intermediate oil dropped for the fourth time in 5 days after data showed an increase in US inventories, higher than last week’s forecast.
EIA Says U.S. Oil Consumption in 2012 Lowest in 16 Years
Oil – Reuters reported that the United States’ oil consumption dropped unexpectedly in December, which pulled down the total annual demand last year at lowest level since 1996, according to the Energy Information Administration.
Oil Prices Soar Amid Rally in U.S. Equities
Oil – Reuters reported that the prices of oil went up 80 cents as traders grew bullish on high U.S. stock markets.
Oil Prices a Huge Threat to Euro Economy: IEA Chief Economist
Oil – Bloomberg reported that International Energy Agency’s chief economist, Fatih Birol, said the prices of oil are harming Europe, which will need to spend 500 billion euros on oil imports this year, over 200 billion euros more than average.
Gas Prices Up 13 Percent Over 32 Days
Gas – CNNMoney reported that a range of factors, including higher oil prices, production cuts and the closing of refineries, have caused gas prices to rise for 32 days in a row, increasing by more than 13 percent during that time.
Oil Prices Rise with US Gasoline Supply Fears
Oil – Reuters reported that the prices of oil went up on heightened concerns on gasoline supply which rose 2% in the United States.
WTI Bounces Back As Cushing, Oklahoma, Supply Drops
Oil – Oil bounced back as an Energy Information Administration report showed a dip in inventories at Cushing, Oklahoma, the delivery point for West Texas Intermediate crude traded in New York
Oil Trades Near Highest Level in 4 Months, on Upbeat US Economy and OPEC Forecast
Oil – Bloomberg reported that oil traded close to its peak level in four months on signs of U.S. economic growth and as OPEC Secretary General Abdalla El-Badri announced that oil prices will likely not drop this year.
