Crude oil gains 2.7% at $82.17 on Euro zone data
Crude oil may contracts on NYMEX closed yesterday at $82.17 with a gain of 2.7 percent. Yesterday economic data from Euro zone came better than market estimates and supported prices to trade higher.
World Oil & Gas news
Shell and China National Petroleum Corp. announce natural gas cooperation
China National Petroleum Corporation (CNPC) and Royal Dutch Shell plc (Shell) today announced plans to jointly develop and produce natural gas in China’s Sichuan basin.
Pakistan seals multi-billion dollar gas pipeline from Iran
Pakistan has signed a deal with Iran that would lead to the construction of a crucial gas pipeline, Pakistani officials said on Wednesday. The pipeline would carry 750 million cubic feet of gas from Iran’s South Pars gas field when it is completed by 2015.
Shell growth plans axe 1,000 more jobs
Royal Dutch Shell is cutting a further 1,000 jobs this year as part of the reorganisation that will see the oil giant raise production levels for the first time in 10 years.
Shell and PetroChina Bid $3 Billion for Coal Gas Firm
Arrow Energy of Australia said Monday that it had received a takeover offer worth about $3 billion from a company owned by Royal Dutch Shell and PetroChina, the state-run gas and oil giant.
Oil prices rise above $82
New York’s main contract, light sweet crude for delivery in April, was up 42 cents to 81.92 dollars a barrel after climbing slightly above 82 dollars.
Oil price breaches 80 dollars on Total strike, Iran
Oil prices topped 80 dollars a barrel on Monday as a strike at French energy giant Total and concerns over Iran’s nuclear programme rattled the market, analysts said.
Goldman Sachs bet on oil prices at $95 in 2010
Goldman Sachs yesterday predicted crude oil prices could reach $85 to $95 a barrel later in 2010, driven by accelerating global economic growth.
Crude oil prices near US$80 per barrel
Oil prices neared 80 dollars per barrel Friday as the dollar fell and the market weighed a US Federal Reserve increase of its interest rate for emergency loans for banks.
Crude Oil Bulls Regain Clear Near Term Advantage
Crude oil closed sharply higher on Tuesday as it extends the rally off this month’s low. The high range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near term. If March extends this month’s rally, the reaction high crossing at 78.04 is the next upside target.
