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Oil prices climb despite record stockpiles
Oil prices rallied in New York Thursday despite US stockpiles hitting a fresh all-time high, while Brent slipped. New York’s main contract, West Texas Intermediate (WTI) light sweet crude for July, closed at $93.61 a barrel, up 48 cents from Wednesday. Brent North Sea crude for delivery in July dropped…
Oil prices climb $2 on escalating Israel-Gaza violence
NEW YORK — Oil prices leaped Monday as violence intensified in the Israel-Gaza conflict, sparking fresh concern about supplies from the crude-rich Middle East. The market also found support from prospects that top oil consumer the United States will avoid the so-called “fiscal cliff” of automatic tax increases and spending…
Oil prices dip amid Mideast, eurozone worries
NEW YORK — Oil prices eased slightly in cautious trade Monday as investors kept a close eye on Middle East tensions and the eurozone’s economic uncertainties. New York’s main contract, West Texas Intermediate (WTI) light sweet crude for delivery in September, closed at $95.97 a barrel, dipping four cents from…
Oil prices drop in the face of stronger U.S. dollar
Oil recoiled Tuesday, hit by profit-taking and the stronger dollar on the eve of an informal meeting in Brussels where the eurozone’s crippling sovereign debt crisis will top of the agenda. Financial markets were also under pressure after Fitch slashed Japan’s credit rating by two notches on Tuesday, citing its…
Oil prices slide to multi-month lows
World oil prices slid to new multi-month lows on Friday as the market was rattled once again by concern about the outlook for demand linked to the eurozone debt crisis, analysts said. Brent North Sea crude for delivery in July struck $106.40 per barrel, which was the lowest point since…
Oil prices diverge before US payrolls data
World oil prices diverged on Friday amid caution before key payrolls data in top crude consumer the United States, and as Greece reached a debt deal with private creditors to avert bankruptcy. New York’s main contract, West Texas Intermediate (WTI) or light sweet crude for delivery in April, added 34…
Oil prices rise on Greek deal
NEW YORK — Oil prices rose on Thursday, with Brent hitting six-month highs in part due to hopes of a Greek debt deal — helping to offset a slight cut in OPEC’s demand growth forecast. New York’s main contract, West Texas Intermediate (WTI) light sweet crude for delivery in March,…
Oil rises as traders await US jobs report
World oil prices rose Friday on nervous trade ahead of a closely-watched US jobs report to be released later in the day, analysts said. New York’s main contract, West Texas Intermediate (WTI) crude for delivery in March, gained 65 cents to $97.01 a barrel. Brent North Sea crude for March…
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