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Mar 10, 2010

Oil settles higher on gasoline inventory drop

NEW YORK (Reuters) – Oil prices settled higher on Wednesday in choppy trading after a government report showed that gasoline stocks in the United States dropped unexpectedly.

But after reaching a fresh eight-week high of $83.03, oil prices pared some of their gains on profit-taking.

Mar 9, 2010

Oil falls from 8-week high on dollar pressure

NEW YORK (Reuters) – Oil prices slipped back from eight-week highs on Tuesday, pressured by a stronger dollar and uncertainty about an economic recovery.

U.S. crude futures for April fell 13 cents to $81.74 a barrel by 12:15 p.m. EST, after reaching a low of $80.16 a barrel earlier. In London, North Sea Brent crude oil futures slipped 24 cents to $80.23 a barrel.

Mar 8, 2010

Oil rises toward $82 a barrel in seesaw trade

NEW YORK (Reuters) – Oil rose toward $82 a barrel on Monday in choppy trade as a firmer dollar and improved economic optimism tugged prices back and forth.

Crude oil futures reached an eight-week high above $82 a barrel, but also traded as low as $80.75 a barrel.

Feb 18, 2010

New York Fashion Week tries on “green”

NEW YORK (Reuters) – New York Fashion Week is the place to spot new trends and, if this season’s event is any indication, going green is definitely in style.

Sponsor Mercedes-Benz aimed for the semi-annual event to be carbon neutral for the first time, and several of the designers unveiling fall and winter 2010 collections emphasized organic materials and sustainable designs.

Feb 18, 2010

Oil pares gains after Fed raises discount rate

NEW YORK (Reuters) – Oil pared gains in late Thursday trade after the U.S. Federal Reserve announced it was raising the interest rate it charges banks for emergency loans.

The Fed said it was raising the discount rate to 0.75 percent from 0.50 percent, citing improvement in financial market conditions, sending U.S. stock markets lower on concerns about thinning liquidity.

Feb 17, 2010

Oil above $77 on economic data

NEW YORK (Reuters) – Oil rose slightly on Wednesday, holding above $77 a barrel in choppy, light-volume trading as the market weighed upbeat news from the Federal Reserve and other positive economic data against pressure from a stronger U.S. dollar.

U.S. crude for March delivery settled at $77.33 a barrel, up 32 cents.

Oil prices reached a session high of $77.82 a barrel and a low of $76.53 after closing 3.9 percent higher on Tuesday, the biggest percentage gain since it rose 5.8 percent on September 30.

Feb 16, 2010

Oil gains 4 percent on dollar drop, Iran tension

NEW YORK (Reuters) – Oil prices settled nearly 4 percent higher at $77 a barrel on Tuesday, responding to a weaker U.S. dollar, stronger equities, and growing tensions over sanctions against Iran.

U.S. crude for March delivery settled at $77.01 a barrel, up $2.88, or 3.9 percent, the highest percentage gain since the 5.8 percent climb on September 30. In London, the benchmark Brent crude contract for April delivery settled at $75.68, up $3.17.

Feb 15, 2010

At NY Fashion Week, couture meets mass market

NEW YORK (Reuters) – Outside the runways where designers are unveiling fashions in New York, Mercedes-Benz is showcasing its pricey SLS AMG Gullwing supercar next to Maybelline’s display of inexpensive lip gloss in an effort by both high-end and mass-market companies to raise their profiles and boost their consumer following.

New York Fashion Week, a twice-yearly event that draws thousands of fashion insiders and fans, has a reputation for glamour, exclusivity and luxury yet is increasingly attracting sponsors such as Maybelline that sell modestly priced goods.

Feb 11, 2010

Oil climbs above $75 on Greece aid

NEW YORK (Reuters) – Oil prices rose 1 percent to above $75 a barrel on Thursday as a pledge by European leaders to support Greece sparked investor interest in riskier assets.

U.S. crude for March delivery settled at $75.28 a barrel, up 76 cents. In London, Brent crude settled at $73.05 a barrel, up 51 cents.

Feb 9, 2010

Oil rises above $73 on Greek bailout hopes

NEW YORK (Reuters) – Oil rose over 2 percent on Tuesday as reports of a possible aid package for the troubled Greek economy sent Wall Street higher, weakened the U.S. dollar and supported oil prices.

U.S. crude prices for March delivery rose $1.76 to $73.65 a barrel by 1:32 p.m. EST after hitting a high of $74.15. At the end of last week, prices briefly dipped below $70 a barrel to the lowest level since mid-December.

    • About Rebekah

      "Based in Perth, Australia, I cover coal and gas in Asia. Before moving to Perth, I covered oil and fuels like gasoline and diesel in New York City, including the climb of oil prices to a record high near $150 per barrel."
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