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All categories / September 2009

Oil edges lower on demand concerns

Oil edges lower on demand concerns

30 September 2009

The price of crude oil settled slightly lower on Tuesday as concerns over the future of world oil demand continued to weigh heavy on the market.Figures released in the US showed that consumer confidence took an unexpected downturn in September, hampered by the record high unemployment rate and uncer... More

Oil prices edge back towards $67

Oil prices edge back towards $67

29 September 2009

Crude oil prices bounced back from recent losses to edge back towards $67 (£42.27) a barrel on Monday (September 28th), buoyed by a jump in US equities.Wall Street stocks enjoyed their biggest hike in five weeks as an increase in merger and acquisition activity helped fuel hopes of an economic ... More

Oil demand 'recovering faster than expected'

Oil demand 'recovering faster than expected'

28 September 2009

Global oil demand is set to pick up towards the end of this year, helping to erode the current spare capacity and push prices higher, according to the latest outlook.Analysts at Wall Street bank Goldman Sachs said on Friday (September 25th) that consumption of the fuel is recovering quicker than fir... More

Oil prices slide by nearly 4.5 per cent

Oil prices slide by nearly 4.5 per cent

25 September 2009

Oil prices fell to less than $66 (£41.24) a barrel on Thursday as high inventory build-ups and poor economic data fuelled concerns over global energy demand.US crude for November delivery fell by $3.08, or 4.4 per cent, to close at $65.89 a barrel, while London Brent crude slipped $3.17 to sett... More

Oil prices plunge by four per cent

Oil prices plunge by four per cent

24 September 2009

Crude oil prices plunged by nearly four per cent as hopes of an upturn in world fuel demand suffered a major blow on Wednesday.A report by the US Energy Information showed that stockpiles of the fuel grew by almost three million barrels in the week ending September 18th.The increase came despite ana... More

Oil rebounds by more than two per cent

Oil rebounds by more than two per cent

23 September 2009

Oil prices bounced back from losses earlier in the week to record a rise of more than two per cent on Tuesday, buoyed by a fall in the value of the dollar.US crude for October delivery settled at $71.55 (£43.78) a barrel, up $1.84 from the previous day, while London Brent crude also traded up $... More

Crude oil prices 'could top $100' due to supply shortfall

Crude oil prices 'could top $100' due to supply shortfall

22 September 2009

Crude oil prices could exceed $100 (£61.43) a barrel in the future, as investment in energy exploration continues to dwindle during the recession, according to one industry boss.Christophe de Margerie, head of French oil giant Total, warned on Monday that the effects of the economic crisis coul... More

Stronger dollar prompts dip in oil prices

Stronger dollar prompts dip in oil prices

21 September 2009

Crude oil prices slipped back towards $72 (£44.51) a barrel on Friday (September 18th), surrendering some of the recent gains following a rise in the value of the US dollar.Values rallied by around five per cent during the course of the week, having started out at less than $70 a barrel on Mond... More

Oil prices slip slightly on stock market falls

Oil prices slip slightly on stock market falls

18 September 2009

Crude oil prices edged slightly lower on Thursday as fresh economic doubts brought an end to the recent rally.US crude for October delivery settled at $72.47 (£44.33) a barrel, down four cents on the previous day, while London Brent crude slipped 12 cents to close at $71.55.The slight dip in th... More

Oil prices top $72 as inventories slide

Oil prices top $72 as inventories slide

17 September 2009

Crude oil prices reached more than $72 (£43.61) a barrel on Wednesday, as a bigger-than-expected drop in stockpiles raised hopes of an upturn in demand.The US Energy Information Administration's weekly report showed a 4.7 million-barrel draw in inventories - almost double the decline anticipate... More

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