Crude oil prices fell by almost $2 (£1.41) a barrel on Friday, retreating from the four-month high reached the previous day.Values rallied on Thursday to reach more than $54 a barrel, but concerns over rising crude inventories, together with a fall in US and European stock markets, saw the mark... More
Crude oil prices climbed on Thursday amid growing confidence about the potential for economic recovery in the US.US crude closed at $54.34 (£37.90) a barrel, up $1.57, while London Brent crude gained $1.71 to settle at $53.46.The rise to the four-month high in the value of US crude futures foll... More
Crude oil prices could begin to rise again in the second half of 2009 as Opec production cuts continue to effect the market, analysts have claimed.The cartel announced earlier this month that it would not be reducing supply further, instead choosing to focus on enforcing tighter compliance with exis... More
Hopes of an economic turnaround in the US prompted crude oil prices to rise towards $54 (£36.83) a barrel on Monday.The US government announced plans to buy toxic assets of up to $1 trillion from the nation's banks in a bid to help kick start lending, creating renewed optimism in the stock mark... More
Residents in Blyth Valley are being offered a helping hand to improve energy efficiency in the home and cut fuel bills.According to the News Post Leader, more than 5,000 homes across the region will benefit from the scheme, which could save each household as much as £600 a year.The Warm Front S... More
Crude oil prices are likely to remain "at depressed levels" throughout this year, before beginning to edge up again in 2010, a new report suggests.According to US bank Morgan Stanley, values for London Brent crude will average just $36 (£25) a barrel during 2009 as the economic crisis... More
Increasing US crude inventories prompted oil prices to retreat again on Wednesday, despite reaching nearly $50 (£35) a barrel the previous day.US crude fell by more than one dollar to close at $48.14 a barrel, while London Brent crude settled down 58 cents at $47.66 a barrel.The drops came on t... More
Opec's decision to increase compliance with its existing production cuts could see oil prices hit more than $60 a barrel by the end of this year, it has been claimed.The cartel has moved to reduce output by more than four million barrels a day since September in a bid to offset falling global demand... More
Oil prices could begin to increase over the coming months, despite Opec's decision not to cut production further, an analyst has claimed.The cartel announced on Sunday that it would not be implementing any additional reduction in supply, focusing instead on enforcing stricter compliance with existin... More
There was good news for home heating oil customers this weekend as Opec members decided against implementing further cuts in crude production.With global demand for the fuel faltering and oil prices having hovered between $40 (£28) to $50 a barrel over the past few weeks, the cartel had been ex... More
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