Crude oil prices were rising on the New York Mercantile Exchange this morning (June 30th) as foreign traders moved into dollar-priced commodities to capitalise on a weaker greenback.The dollar was down amid speculation that economic recovery in the US is slowing, with many traders concerned about a ... More
Crude oil prices fell below $77 a barrel during electronic trading on the New York Mercantile Exchange as equities slumped in Asia.Japan's Nikkei index fell more than one per cent, adding to losses that put the index in line for its worst quarter since October to December 2008, during which time it ... More
Crude oil prices recorded gains early in the week, following news that China was considering ending its tie to the dollar. The announcement supported growth in oil prices, building on increases recorded at the end of last week.However, by Tuesday the oil price gains were fading, as other factors cam... More
Reports that Tropical Storm Alex may miss the key production areas in the Gulf of Mexico have helped to ease upward pressure on the commodity.Crude oil prices fell to below $78 per barrel following news from the US National Hurricane Center that the storm is likely to make land in northern Mexico, r... More
There is a need to take action to prevent excessive price volatility entering the oil and gas markets, the International Energy Agency (IEA) has warned. At the publication of the group's latest report, Medium-Term Oil and Gas Markets, executive director Nobuo Tanaka highlighted the need to make more... More
Prices of crude oil have fallen below $76 per barrel on the key New York Mercantile Exchange, following news of growth in stockpiles, despite hope of a drop.Distillates such as heating oil and gasoline also followed crude's lead and recorded lower prices on the market.According to Bloomberg, heating... More
Crude oil prices were down for a second day on the New York Mercantile Exchange this morning (June 23rd), moving towards $77 a barrel and under pressure after a weak demand report.The industry-funded American Petroleum Institute (API) released figures showing a 3.69 million-barrel rise in crude inve... More
Crude oil prices moved lower during the electronic trading session of the New York Mercantile Exchange this morning (June 22nd), paring gains made yesterday as the Chinese yuan rose.Over the weekend, the People's Bank of China announced that it would scrap the currency's peg to the US dollar, which ... More
Crude oil prices moved higher on the New York Mercantile Exchange this morning (June 21st) as traders reacted to China's plans to allow its currency to trade more openly.Since the beginning of the financial crisis, the yuan has been fixed against the US dollar, allowing the country to benefit from b... More
Crude oil prices were little changed on the New York Mercantile Exchange as European markets opened this morning (June 18th), with the commodity recovering from early losses to trade around $76.60 (£51.53) a barrel, down 19 cents.Heating oil prices were trading within a fraction of a cent of ye... More
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