Algeria says $100-$110 oil is fair as economy slumps
Algeria, Africa’s third-largest oil producer, said crude prices of $100 to $110 a barrel are fair for exporters and users, the country’s oil minister said a day after Iran and Nigeria said the market is balanced. More »
Crude oil trading near its highest price since July
Oil traded near the highest level in more than three months as Italy started building a new government that may help contain the European debt crisis and Japan reported its first economic growth in a year. More »
Crude oil creeps toward $100 mark again
Oil prices jumped more than 2 percent today as investors cheered political shake-ups in Greece and Italy, and layoffs appeared to be easing in the U.S. More »
Crude oil declines on concerns about European debt crisis
Oil declined for the first time in six days in New York after political turmoil in Italy revived concern that Europe’s debt crisis may continue to spread. More »
Oil near $96, extending month-long 27 pct rally
Oil prices rose to near $96 a barrel Tuesday in Asia, extending a 27 percent rally during the last month amid signs the U.S. economy isn’t slipping back into recession. More »
Libya oil production at one-third of prewar level
Libya’s oil output is almost at a third of its prewar levels, the country’s acting oil minister said Monday, adding that the resumption of production was moving quicker than expected. More »
Saudi opposition to Iran on $100 oil fades
Saudi Arabia’s biggest cut in oil output in three years is a sign OPEC’s largest producer is finding common cause with its long-time rival Iran. The kingdom reduced supply by 400,000 barrels a day, or about 4 percent, last month, Oil Minister Ali al-Naimi said recently.
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Oil contango’s end sparked by falling stockpiles
Oil futures closest to expiration became more expensive than those for later delivery for the first time in three years after U.S. crude stockpiles shrank to a 12-month low. More »
Hedge funds raise bullish bets most in two months
Hedge funds increased bullish bets on commodities by the most since August on mounting optimism the global economy will avoid another recession, boosting prospects for raw-materials demand. More »
Oil price rises above $91 on signs of growth
Investors are now trading with the expectation that Western economies will keep growing this year — albeit slowly. As the economy strengthens, demand for oil rises. More »
Oil prices rise on U.S., European economic news
Hopes are rising for stronger demand in the months to come. More »
Oil traders enter into plea deal with feds over LyondellBasell case
Clyde Meltzer and Bernard Langley pleaded guilty to conspiracy to commit wire fraud as part of a scheme to defraud refiner LyondellBasell out of millions of dollars. More »
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