Oil Prices Climb Above $64
Crude-oil futures rose Monday, lifted by firmer equities and a weaker dollar, amid fresh hopes about the outlook for the economy.
World Oil & Gas news
Oil rises 2.5 pct after U.S. housing data
Oil prices rose 2.5 percent on Friday, staging their first weekly gain in a month, after U.S. housing data sparked optimism that a battered sector of the economy may be primed for recovery.
World Oil Reserves Sufficient for 42 Years,Gas 60,Coal 122
In a climate of unprecedented turbulence, global energy markets followed the same extreme pattern as the world economy in general during 2008.
Turkey, EU nations sign Nabucco gas pipeline deal .. and Allaw attended
Five of the six parties to the Nabucco gas pipeline project signed on Monday an intergovernmental agreement on the transit of Caspian gas to Europe, skirting Russia in the presence of Eng. Sufian Allaw Minister of oil and mineral resources .
G8 sees economy still in peril, falters on climate
G8 leaders believe the world economy still faces “significant risks” and may need further help, according to summit draft documents that also reflect failure to agree climate change goals for 2050.
Crude oil prices drop Wednesday
Crude oil prices fell below $61 per barrel on the New York Mercantile Exchange Wednesday on concerns an economic recovery has gone south.
Oil Prices Falls Reaching 63 Dollars
prices fell sharply on Monday, extending heavy losses seen last week caused by poor jobs data in the United States, the world’s biggest energy-consuming nation, analysts said.
International Energy Agency says oil demand could reach 2008 levels in 2012 or maybe after 2014; Crude rises to 8-month high of $73
The IEA said in 2004 that oil intensity, defined as primary oil consumed per unit of GDP, in selected developing countries relative to that of the OECD, cited India, which used more than two and half times as much oil as developed countries per unit of GDP, while the economies of China, Thailand and African countries were also very oil intensive.
Oil prices spike to over $73 a barrel
Oil prices jumped more than 2 per cent to an eight-month high above $73 a barrel today, as a sudden spike in Brent buying pinned on fund positioning ushered out the market’s best quarterly gain since 1990.
Russia’s Putin offers surprise deal to Shell
Russian Prime Minister Vladimir Putin moved again to ease his government’s clasp over the energy sector on Saturday, capping off a week of foreign energy deals with a surprise offer for Royal Dutch Shell.
