Residents in North Wales are being urged not to leave themselves in the cold this year by making sure their heating oil tanks are kept locked and secure.Police are also urging neighbours and dog-walkers to keep a lookout for oil thieves, with the number of cases on the rise across the region, the De... More
Crude oil prices stabilised on Wednesday as prices rose for the first time this week.Following a fall of more than nine per cent on Tuesday, the market bounced back as Opec pledged to deliver its full supply cut by the end of the month, Reuters reports.A spell of cold weather in the US also helped t... More
Crude oil prices experienced their biggest drop in almost three weeks on Tuesday as the difficult economic conditions continued to take their toll.US crude fell $4.15 to settle at $41.58 (£29.19) a barrel - a fall of more than nine per cent.Meanwhile, London Brent crude closed at $43.73 a barre... More
Crude oil prices dropped by more than 1.5 per cent on Monday as concerns over faltering demand again began to hit values.The market had experienced a surge in prices last week, with values rising for four consecutive days on the back of Opec production cuts.However, analysts are now beginning to que... More
Opec officials could implement more supply cuts if oil prices do not recover to $75 (£55) a barrel in March, it has emerged.According to Reuters, the group's president told Angolan weekly newspaper O Pais this week that members could meet before the next scheduled gathering in March if values s... More
Crude oil prices increased for the fourth consecutive day on Thursday as Opec supply cuts continued to have an impact on the market.The cartel has reduced output by 4.2 million barrels a day since September and prices have rallied this week as a result.US light crude for March delivery closed at $44... More
Opec supply cuts began to take effect on Wednesday with prices climbing by 6.6 per cent.The market has faltered recently as falling demand brought about by the global economic crisis continues to take its toll.US oil inventories have increased over the last few weeks, with prices continuing to slide... More
Crude oil prices rallied on Tuesday as values rose by as much as six per cent.The market has experienced a downward slide since prices reached record highs of $147 (£107) a barrel last summer.This has prompted Opec to enforce a number of production cuts as the global economic slowdown has conti... More
Police are appealing for the help of home heating oil customers in the Peterhead area after thieves made off with around 70,000 litres of the fuel from a storage depot.Officers are looking to hear from anyone who may have been offered oil at a reduced rate following the theft, which took place some... More
Iran's oil ministry has tipped crude oil prices to remain at around $40 (£27) a barrel in 2009.US crude settled at $36.50 a barrel on Friday as prices continue to fall from the highs experienced in the summer of last year.This comes as the effects of the global economic downturn constrain deman... More
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