The price of crude oil slid back on Wednesday following a gentle push upwards in the light of a strengthening dollar. According to Reuters, traders waited for a decision on US interest rates and a strike in Nigeria by Exxon Mobil workers threatened supply. In addition, the strike in Grangemouth, Sco... More
Oil prices decreased slightly from their record highs on Tuesday, bringing prices to around $118 (£59.60) per barrel.After reaching the record of $119.93 on Monday as a two-day strike hit the Grangemouth refinery in Scotland, US light crude for June delivery fell 77 cents at $117.83. Meanwhile,... More
The stoppage of North Sea oil production has sent the price of a barrel to a record high of nearly $120 (£60.40).According to reports, the price of US light crude rose to $119.93 in early trading before dropping slightly to $119.40. Meanwhile, the price of Brent in London has risen to $117.17.B... More
Oil prices in New York (NY) fell on Friday morning due to a rallying dollar and increasing US crude stockpiles led dealers to lock in profits, according to reports. Light crude prices for June delivery dropped slightly to $115.60 (£58.7) per barrel, its main futures contract. At the NY Mercanti... More
Some confusion over the amount of energy the US has stockpiled caused global oil prices to falter short of 60 pounds a barrel, according to reports.Light sweet crude for June delivery slipped a little in New York's Asian trading, while the May contract just tipped the $119.90 (£60) mark.The US ... More
Following near-record oil prices, the value of crude steadied in New York against the prediction that flagging US demand would be offset by increases in other countries. For the first time the US, the largest energy consumer in the world, will be overtaken by China, India, Russia and the Middle East... More
Disruptions in the supply of oil has led to soaring oil prices, it has been suggested.According to Bloomberg, attacks in Nigeria on oil barrels owned by Royal Dutch Shell have pushed oil prices upwards.The commodity is currently valued at $117.31 (£59.07) a barrel, a slight fall from yesterday'... More
The recent increase in home heating thefts has led to the Oil Firing Technical Association (Oftec) issuing advice for homeowners on how to deter thieves.Home heating oil users should consider installing security lights on their property that are triggered by movement, and fitting padlocks to their o... More
Oil prices are hovering around the $115 (£57.63) a barrel mark, after surging to new record highs this week.The previous highest value of the commodity was set in March and stood at $112.21.However, this record was smashed in Wednesday's trading, in news which is likely to affect home heating o... More
Oil prices are continuing their surge upwards, surpassing the $115 (£58.11) a barrel mark during electronic trading.In news which may interest home heating oil users, oil prices on the New York Mercantile Exchange finished at $114.93 a barrel on Wednesday, reports AFP.However, values continued ... More
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