LONDON (Reuters) – Oil prices steadied above $48 a barrel on Tuesday, recovering from earlier losses as the dollar weakened against the euro.
Brent crude oil futures LCOc1 rose 22 cents to $48.38 a barrel by 1042 GMT.
U.S. West Texas Intermediate (WTI) crude futures CLc1 rose 10 cents to $45.25 a barrel.
LONDON (Reuters) – Oil prices declined on Monday, with U.S. crude falling close to a nearly six-year low, as Saudi Arabia’s new King Salman moved to assuage fears of an unstable transition and any policy change in the world’s largest oil exporter.
Salman was quick to retain veteran Saudi oil minister Ali al-Naimi on Friday, in a message aimed at calming a jittery energy market following the death of King Abdullah last week.
LONDON (Reuters) – Oil prices rose on Friday after the death of Saudi Arabia’s King Abdullah added more uncertainty to an oil market that has more than halved over the last six months.
King Abdullah bin Abdulaziz died early on Friday and his brother Salman became king of the world’s top oil exporter.
LONDON, Jan 21 (Reuters) – Brent crude oil edged above $48 a
barrel on Wednesday, consolidating after a drop in the previous
session, although oversupply and the prospect of inventory rises
make further weakness likely.
Prices fell on Tuesday after the International Monetary Fund
cut its 2015 global economic forecast and OPEC member Iran
hinted at further price weakness.
LONDON (Reuters) – Brent crude oil prices fell below $50 a barrel on Monday after the global economic outlook darkened and Iraq announced record oil production.
The world’s biggest energy consumer, China, faces significant downward pressure on its economy, its premier Li Keqiang was quoted by state radio as saying on Monday.
LONDON, Jan 19 (Reuters) – Brent crude oil prices fell below
$50 a barrel on Monday after Iraq announced record oil
production and the global economic outlook darkened.
Iraqi Oil Minister Adel Abdel Mehdi said on Sunday Iraq
pumped 4 million barrels per day (bpd) of oil in December, its
highest ever thanks to higher output from its southern terminals
and a surge in supply from the north.
LONDON (Reuters) – Oil prices resumed their move downwards on Thursday, as Iraq planned a further jump in exports for February, with both Brent and U.S. crude oil dropping around $1 towards near six-year lows, and almost wiping out gains made the previous day.
“A war for output market share means oil prices are skewed to the downside. Funds are unwinding a large positive investment premium, but further selling is possible,” ANZ said on Thursday.
LONDON (Reuters) – Oil prices recouped some early losses on Wednesday but remained under pressure after the World Bank cut its global economic growth forecast, doing little to end a rout that saw prices touch their lowest in nearly six years in the previous session.
Crude prices turned positive in the early afternoon, but failed to stage a significant rally as a weaker outlook from the Washington-based financial institution reinforced worries about sluggish growth in energy demand.
LONDON (Reuters) – Brent crude oil recovered slightly after falling below $50 a barrel for the first time since May 2009 on Wednesday, as traders re-assessed their books after a sharp slide since the start of the year on a growing supply glut and weak global demand.
In choppy trade, benchmark Brent crude futures LCOc1 were down 25 cents at $50.85 by 0656 ET, having fallen as low as $49.66, a level last seen in May 2009.
LONDON (Reuters) – A Georgian townhouse in a genteel, leafy London suburb houses a team of gambling experts huddled round dozens of computer screens showing match results from around the world. No bets are placed, however, no money won or lost. This is the frontline of the war on football match-fixing.
The multi-billion dollar football industry was shaken to its core earlier this month when European police and prosecutors said hundreds of games may have been rigged in a match-fixing syndicate being run from Singapore.