WTI Spot oil price declined yesterday by 2.57%; it settled at $85.70 per barrel; Brent spot price also sharply decreased by 2.42% to $111.61 per barrel; during September the WTI spot oil price declined by 3.5% and Brent oil price fell by 4.2%.
The Cypriot president, Demetris Christofias, insists the smaller and less affluent Turkish Cypriot community can share the potential hydrocarbon bounty once there is a deal to reunify the island. He has accused Turkey of being a regional "troublemaker".
Russia lashed out Tuesday at an offer by the European Union to broker talks between energy-rich former Soviet nations Azerbaijan and Turkmenistan aimed at creating a natural gas pipeline that would carry Turkmen fuel to the West.
Oil slipped in New York, trimming its fourth straight weekly gain and longest winning streak since July, on concern that European plans to solve the region’s debt crisis may founder, threatening economic growth.
The IEA said on Thursday that it ended its release of oil from strategic reserves begun in June to compensate for a cut in supplies from Libya, just days after forecasting resumed production in the country.
GDP assumptions for 2011 and 2012 are scaled back nearer to 4% annual growth, with the bulk of the downgrade focused on the OECD countries
Crude-oil futures rose in Asian trading Tuesday, as regional shares rebounded following cues from Wall Street and the U.S. dollar retreated a tad
French oil giant Total said on Friday it had found a major gas field in the Caspian sea off the coast of Azerbaijan.
Oil Price fell below $89 a barrel Thursday in Asia after a US energy report showed mixed signals about demand.
Brent crude oil fell towards $110 a barrel on Monday as fears of another U.S. recession and slowing growth elsewhere raised the prospect of lower demand for fuel
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