LONDON (Reuters) – Brent crude oil prices gained on Tuesday in volatile trade, snapping a three-day losing streak as investors returned their focus to potential supply risks.
However, prices remained not far above a recent 16-month low, under pressure from steady global supplies and slower-than-expected growth in the world’s top oil consumers.
LONDON, Sept 9 (Reuters) – Brent crude fell for a fourth
straight day on Tuesday, with prices near a 16-month low below
$100 a barrel, under pressure from ample global supplies and
slower-than-expected growth in the world’s top oil consumers.
Steady or growing output from Iraq and Libya, where
investors had feared violence would cut production, and the
shale oil boom in the United States as well as a stronger U.S.
dollar have helped to depress the oil price.
LONDON, Sept 4 (Reuters) – Oil slipped to around $102 a
barrel on Thursday, partially reversing a sharp rise the
previous day, with more volatility expected as traders await the
European Central Bank meeting and developments on Ukraine.
Oil futures on both sides of the Atlantic have seen sharp
swings, buffeted by moves in the dollar and hopes that the peace
talks in Ukraine may help the demand outlook in Europe.
LONDON, July 25 (Reuters) – Oil fell below $107 a barrel on
Friday as plentiful supply outweighed concerns over conflicts in
the Middle East and Ukraine.
Brent crude for September delivery traded 18 cents
lower at $106.89 a barrel by 1400 GMT. The contract had closed
96 cents lower on Thursday.
LONDON (Reuters) – ExxonMobil is pouring $1 billion into modernising a European refinery just as others are fleeing the sector, making life even more difficult for older plants struggling to stay afloat.
Exxon said it would install a new coking unit at the 300,000 barrel per day (bpd) Antwerp plant to turn high sulphur oils created as a by-product of the refining process into various types of higher-profit diesel, including shipping fuels that will meet new environmental laws.
LONDON, July 25 (Reuters) – Oil held steady around $107 a
barrel on Friday, as plentiful supply countered any premium to
the price caused by concern over conflict in the Middle East and
Brent crude for September delivery traded 13 cents
higher at $107.20 a barrel by 0810 GMT. The contract had closed
96 cents lower on Thursday.
LONDON, July 2 (Reuters) – Oil fell towards $111 a barrel on
Wednesday, its lowest in almost three weeks, on a possible
substantial recovery in Libyan exports after rebels said they
would reopen two oil terminals.
Libyan rebels blockading eastern oil ports have agreed to
reopen the remaining two terminals at Es Sider and Ras Lanuf.
The port seizures have crippled Libya’s oil industry since last
LONDON, June 26 (Reuters) – Brent crude oil held steady near
$114 a barrel on Thursday, with traders watching developments in
Iraq for the possibility of export disruption from OPEC’s
Oil hit a nine-month high a week ago on fears that conflict
in Iraq could split the country and hit oil exports, but it has
since retreated slightly as production has been largely
unaffected by the fighting.
LONDON, June 25 (Reuters) – Brent crude oil slipped below
$114 a barrel on Wednesday as fears of supply disruption in
Iraq receded and after a rise in U.S. inventories pointed to
ample stockpiles for the world’s biggest oil consumer.
Oil has made sharp gains in the past two weeks as concerns
over fighting in Iraq, OPEC’s second-largest producer and
exporter, pushed the North Sea benchmark above $115, its highest
LONDON, June 17 (Reuters) – Oil was steady at around $113
per barrel on Tuesday, as signs of a thaw in relations between
Iran and the West offset fears that Iraqi exports could be hit
by spreading violence in OPEC’s second-biggest oil exporter.
Scores of Iraqis were killed on Tuesday during a battle for
a provincial capital, and fighting shut the main oil refinery,
starving parts of the country of fuel and power as an uprising
by Sunni insurgents threatened Iraq’s survival as a state.