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Oil drops after Fed douses stimulus hopes

World oil prices slid on Wednesday after the Federal Reservepoured cold water on hopes of more monetary stimulus, while traders awaited the latest snapshot of US crude inventories. New York’s main contract, West Texas Intermediate crude for delivery in May, dropped 66 cents to $103.35 a barrel. Brent North Sea crude for May lost 24 cents…

Oil plunges on strong dollar, profit taking

World oil prices sank in volatile year-end deals on Wednesday, as traders took profits and eyed the strong dollar, new concerns over the eurozone debt crisis and fresh equity falls on Wall Street. New York’s main contract, light sweet crude for February delivery, known as West Texas Intermediate (WTI), sank $1.98 to $99.36 a barrel. Brent North…

Crude oil prices stable after brief rally

World oil prices steadied on Monday after a brief rally, as traders took their cue from the eurozone debt drama, analysts said. New York’s main contract, light sweet crude for delivery in November, added 34 cents to $87.14 a barrel. Brent North Sea crude for delivery in December climbed as high as $113.86 a barrel,…

Crude oil prices slip on Greek default fears

World oil prices slid on Monday, as tumbling global equities and fresh fears of a Greek default sparked concern over the energy demand outlook, with the market also hit by the strong dollar. New York’s main contract, West Texas Intermediate (WTI) for delivery in November, dipped 47 cents to $78.73 a barrel. Brent North…

As markets energize again, oil prices soar

World oil prices soared on Tuesday, mirroring the performance of global equities, as markets followed eurozone debt developments closely. Brent North Sea crude for delivery in November jumped $1.59 to $105.53 a barrel in London midday deals. New York’s main contract, West Texas Intermediate (WTI) for November, rallied $2.18 to…

Oil prices slump as U.S. downgrade stokes demand worries

World oil prices slumped Monday over fears of slowing energy demand in the United States after a shock credit rating downgrade for the world’s biggest economy, analysts said. New York’s main contract, West Texas Intermediate light, sweet crude for delivery in September, plunged $3.40 to $83.48 a barrel. Brent North…

Oil prices climb amid Libya fighting

NEW YORK – World oil prices advanced on Tuesday as fighting raged on in Libya, a significant exporter of crude before the current crisis. In New York, crude for April delivery closed at $104 dollars a barrel, up $1.67 at the end of Monday trade. In London Brent North Sea…

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