Crude oil prices climbed more than five per cent on Thursday, cancelling out the previous day's losses as hopes of an economic recovery grew.US crude rose by $3.59 (£2.17), or 5.7 per cent, to close at $66.94 a barrel, while London Brent crude settled up $3.58 at $70.11.The gains came after a s... More
Crude oil prices are likely to remain within a range of $60 (£36.64) to $90 a barrel as the market gradually begins to recover from the effects of the recession, it has been claimed.Tony Hayward, chief executive of energy giant BP, said there is little sign of any increase in demand for the fue... More
Crude oil prices climbed above $68 (£41.35) a barrel on Friday as hopes of an economic turnaround were boosted by a raft of positive earnings reports.US crude rose 89 cents to settle at $68.05 a barrel, marking its highest closing point since July 1st.Meanwhile, London Brent crude edged back ab... More
Crude futures on the New York Mercantile Exchange have continued to rise in recent trading, increasing by around one dollar compared to yesterday's prices.A barrel of crude for September delivery on the New York Mercantile Exchange was trading at $67.21 (£40.80) at 03:53 Eastern Time this morni... More
The cost of heating oil has continued to follow an upward curve in the latest trading sessions on key exchanges.On the New York Mercantile Exchange (Nymex), heating oil futures rose to $1.7818 (£1.0838) per gallon, by 04:23 Eastern Time this morning.Futures prices for other derivatives also ros... More
The price of crude oil edged above $65 in late trading on Wednesday and has held above this mark in early Thursday trading, buoyed as it was by stronger equity markets.Crude futures for September delivery hit $65.48 (£39.61) at 04:23 Eastern Time this morning, while spot prices of dated Brent w... More
Crude oil prices slipped back below the $65 (£39.72) level overnight on the New York Mercantile Exchange (Nymex) following the release of data which showed US inventories at a higher level than analysts expected.Such a rise suggests demand in the country remains lower than had been anticipated.... More
Crude oil prices rose slightly on Monday to extend last week's six per cent gains and edge towards $64 (£38.86) a barrel.US crude for August delivery climbed 42 cents to close at $63.98 a barrel, while London Brent crude settled up $1.06 at $66.44 a barrel.The market was supported by positive c... More
Crude oil prices posted their first weekly gain in more than a month after climbing above $63 (£38.23) a barrel on Friday.US crude for August delivery rose by $1.54 to settle at $63.56 a barrel, while London Brent crude for September closed at $65.38 - up $1.63 on the previous day.The gains cam... More
There was another mixed day for oil prices on Thursday as a rebound in the stock market helped boost values, despite continued uncertainty over future demand.US crude edged slightly higher to settle at $62.02 (£38) - up 48 cents on the previous day - on the back of a late rally on Wall Street.H... More
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