FreshPips.com | fresh news handpicked by forex traders

Oil falls to near $50 as OPEC says prices too low

posted by BhadrakshRocks 1483 days ago in Oil

Oil prices fell toward $50 a barrel Monday in Asia as investors mulled comments from OPEC suggesting the price was too low for companies to justify new investments in crude production. Benchmark crude for June delivery was down $1.12 to $50.43 a

• Discuss

Oil could rally to $60 by year-end:OPEC's al-Badri

posted by 1483 days ago in Oil | admin links Edit

• Discard
• Queued
• Published
• Modify

World oil prices could recover to $60 per barrel by the end of the year if demand in the global economy picks up, OPEC Secretary General Abdullah al-Badri told Reuters in an interview on Sunday. He said now was too soon to judge if fresh output c

• Discuss

Commodities: Oil rises; gold breaches $900

posted by ananais 1484 days ago in Oil

New York crude oil prices charged higher this week, winning support from resurgent equity markets and the flagging US currency, while gold burst back above $900 per ounce. The weak greenback stimulated demand for dollar-priced commodities because

• Discuss

OPEC, Asia May Call for Curbs on Speculation in Oil

posted by twilight 1484 days ago in Oil

OPEC and 13 Asian countries may call for measures to curb speculation in crude oil to prevent a surge in prices once the global economy recovers from the worst recession since World War II.

• Discuss

Oil below $50 as timing of demand recovery weighed

posted by sora 1486 days ago in EUR, Oil

Hopes of a possible recovery in crude demand in the second half of the year nudged oil prices upward Friday, but nagging worries about the state of the world economy kept them below $50 a barrel.

• Discuss

Oil rises on dollar; traders shrug off jobs data,inventories

posted by ColdFire 1486 days ago in Oil

Crude-oil futures rose Thursday for a third session, supported by a weaker U.S. dollar and strong quarterly results from Apple Inc. and its peers, while investors shrugged off data showing a rise in jobless claims and excessive crude inventories.

• Discuss

Oil prices rose slightly towards 50 dollars a barrel

posted by jirachi 1487 days ago in USD, Oil, GDP

Oil prices rose slightly towards 50 dollars a barrel, despite news of surging US crude inventories that indicated weak energy demand in the recession-hit US economy

• Discuss

Oil falls on higher crude, gasoline supply

posted by ctrlaltdel 1487 days ago in Oil

Oil prices fell Wednesday after a government report showed crude supplies increased more than forecasts and stockpiles of gasoline and distillates rose unexpectedly.

• Discuss

Oil prices go up towards $50

posted by kulas 1488 days ago in Oil

Crude oil climbed for a second day, following gains in U.S. stocks, after Treasury Secretary Timothy Geithner said the “vast majority” of the nation’s banks have more capital than needed.

• Discuss

Oil recovers from earlier losses

posted by milkyway 1488 days ago in Oil

Oil prices rose Tuesday, recovering from earlier losses, as stock prices headed higher.

• Discuss

Oil Little Changed as U.S. Dollar Gains

posted by erzon 1489 days ago in USD, Oil

Oil was little changed as U.S. equity markets weakened, a stronger dollar reduced the appeal of commodities and on speculation supplies will rise as the recession reduces demand.

• Discuss

Oil Is Little Changed Amid Signs of Prolonged U.S Recession

posted by post-it 1489 days ago in Oil

Oil was little changed after falling on signs the U.S. recession will extend into the second half of the year, reducing fuel demand for cars and factories.

• Discuss