The price of crude oil surged beyond $65 (£40.50) a barrel for the first time this year on Thursday after Opec members opted against implementing any cut in production targets.US crude for July delivery settled at $65.08 a barrel, up $1.63 on the previous day, while London Brent crude climbed $... More
Crude oil prices edged towards $64 (£40.32) a barrel on Wednesday as the market continued to be buoyed by optimism that the worst of the economic recession could be over.Values have rallied in recent months to climb from lows of close to $30 a barrel at the beginning of 2009, with some experts ... More
Oil prices rebounded from losses earlier in the week to reach their highest level in more than six months on Tuesday.US crude settled at $62.45 (£39) a barrel, up 78 cents on the previous day, marking its highest closing point since November 5th. London Brent crude rose $1.03 to settle at $61.2... More
Crude oil prices must remain stable in order to increase new upstream investment and help facilitate a global economic recovery, world energy leaders have said.The International Energy Agency warned last week that prices could spike again in the coming years as producers continue to postpone oil pro... More
The recent recovery in oil prices means that Opec is unlikely to implement any further production cuts at its next meeting towards the end of this month, analysts have said.Members will come together on May 28th to discuss the state of the oil market and consider whether any reduction in output quot... More
Crude oil prices climbed to six-month highs of over $62 (£39) a barrel on Wednesday, boosted by new data which showed that US crude inventories are beginning to subside.The US Energy Information Administration's weekly report showed that crude stockpiles fell by more than 2.1 million barrels ov... More
The recent upward trend in crude oil prices could continue over the coming months as the global economy begins to recover from the effects of the recession, it has been claimed.Values reached new six-month highs of nearly $60 (£38.75) a barrel this week, having climbed from lows of less than $3... More
Crude oil prices climbed by more than 4.5 per cent on Monday as the market recovered from heavy losses towards the end of last week.Home heating oil customers saw values drop back towards $56 (£36) a barrel on Friday after a week in which the Energy Information Administration, Opec and the Inte... More
Home heating oil customers in Sussex are being urged to remain vigilant following a spate of recent crimes in the region.According to the Sussex Express, there has been a significant rise in the number of reported thefts in Wealden, with thieves targeting sheds, garages and oil tanks.Indeed, with ma... More
Conflicting economic data brought a mixed day on the oil markets on Thursday as prices continued to hover below $60 (£40) a barrel.US crude for June delivery rose 60 cents to close at $58.62 a barrel, but London Brent crude - which expired at the end of trading - settled down 65 cents at $56.69... More
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