Oil falls, awaits U.S. jobs data, storm
SINGAPORE (Reuters) – Oil futures fell on Friday as the market nervously awaited U.S. jobs data for new evidence on whether the world’s largest crude consumer can avoid recession.
A storm blowing off the U.S. Gulf of Mexico provided modest price support after major oil and gas producers shut down platforms and evacuated workers to limit any damage.
Free drama of popular protest rocks London stage
LONDON (Reuters) – The spirit of the Arab Spring has found theatrical expression, with the help of one of Britain’s celebrated iconoclasts, at a venue next door to the capital’s mayor.
Mark Ravenhill, made famous by his 1990s debut play “Shopping and Fucking,” has written a modernized version of German playwright Bertolt Brecht’s “The Mother,” which examines an early 20th-century protest that has taken on contemporary force.
Economic pain pushes Brent below $106
LONDON (Reuters) – Brent crude fell below $106 on Friday, extending the previous session’s plunge after weak economic data added to expectations the world could be heading into a double-dip recession that would sap oil demand.
Brent was trading at $105.75 a barrel by 4:29 a.m. EDT, off a session low of $105.06. A day earlier it fell by about three percent.
Water rights trade to help quench world thirst
LONDON (Reuters) – Markets in water rights are likely to evolve as a rising population leads to shortages and climate change causes drought and famine.
But they will be based on regional and ethical trading practices and will differ from the bulk of commodity trade.
Analysis: Water rights trade to help quench world thirst
LONDON (Reuters) – Markets in water rights are likely to evolve as rising population leads to shortages and climate change causes drought and famine.
But they will based on regional and ethical trading practices and will differ from the bulk of commodity trade.
Oil prices not yet at producer pain threshold
LONDON (Reuters) – Oil prices in London would have to drop below $90 a barrel, adding to a roughly $20 drop from this year’s highs, for oil-producing countries and major companies to begin feeling the pain.
The events of the Arab Spring have helped to drive up OPEC’s budget-balancing needs to near $100 a barrel, compared with above $108 for Brent crude Friday.
Analysis: Oil prices not yet at producer pain threshold
LONDON (Reuters) – Oil prices would have to drop below $90, adding to a roughly $20 a barrel drop from this year’s highs, for oil producing countries and major companies to begin feeling the pain.
The events of the Arab Spring have helped to drive up OPEC’s budget-balancing needs to near $100 a barrel, compared with above $108 for Brent crude on Friday.
OPEC unlikely to act until oil falls further
LONDON (Reuters) – Oil prices would have to drop below $90 to spur OPEC into decisive action to cut output and shore up a market that has already shed around $20 from this year’s high.
The events of the Arab Spring have helped to drive up OPEC’s budget-balancing needs to an estimated $100 a barrel, compared with above $109 for Brent crude Friday.
Oil hits 4-week low on debt, demand concerns
LONDON (Reuters) – Brent oil dived $2 to its lowest in a month on Thursday as sovereign debt and economic pain threatened to dent fuel demand, while Japan’s intervention to stem the rise in the yen boosted the U.S. currency.
Brent was $2.02 a barrel lower at $111.21 by 1359 GMT, off a session low of $111.03, the weakest intraday price since early July. U.S. crude was $1.30 weaker at $90.63.
Currency intervention pushes Brent to four-week low
LONDON (Reuters) – Brent oil fell to a four-week low on Thursday after Japan’s intervention to stem the rise in the yen boosted the dollar and anxiety about the extent of Europe’s debt crisis curbed any interest in riskier assets.
Brent recovered to trade 7 cents firmer at $113.30 by 0823 GMT, off a session low of $112.70, the weakest intraday price since July 6. U.S. crude was 11 cents weaker at $91.82.
