Oil prices rose above $79 barrel for the first time in four weeks
Oil prices rose above $79 barrel Monday for the first time in four weeks as an extended cold snap triggered an end-of-year rally in energy futures.
Oil prices rose above $79 barrel Monday for the first time in four weeks as an extended cold snap triggered an end-of-year rally in energy futures.
Oil prices rose on Thursday, extending a rally caused by a larger-than-expected drop in US energy stockpiles, traders said.
following reports of oil pipeline attacks in major exporters Iraq and Nigeria over the weekend, and as cold weather in the United States and Europe raised the prospect of increased fuel demand.
U.S. crude futures for January delivery, in their final day of trading before expiry later Monday, rose 66 cents
France’s Total was disappointed to lose out in Iraq’s oil auction this week but was unwilling to bid aggressively to win deals on some of the world’s largest fields, its chief executive said on Saturday.
Oil prices fell for an eighth session on Friday, ducking below 70 dollars amid “sluggish” energy demand in the United States.
A consortium including Royal Dutch Shell PLC and Malaysia’s Petronas was awarded a contract to redevelop Iraq’s Majnoon oil field, Iraqi Oil Minister Hussein al-Shahristani said Friday.
The Amir of Qatar, Shaikh Hamad bin Khalifa al-Thani, on Wednesday called for the alignment of gas prices with oil prices at the opening of a forum of gas exporting countries.
Oil prices slipped to near $76 a barrel Friday ahead of U.S. unemployment figures that will provide an important guide to the strength of the economic recovery and demand for crude.
US investment bank Goldman Sachs expects oil prices to rise to an average $US90 a barrel next year, before increasing to U$110 in 2011, as strong growth in emerging market economies boosts crude demand.
Energy experts are calling for reforms to the country’s natural gas pricing regime in order to offset repeats of the shortages like those that left much of Chinain the cold this month.