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Oil above $50 despite demand concerns

posted by 1501 days ago in Oil | admin links Edit

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Oil prices rose above $50 a barrel Wednesday as investors shrugged off an unexpected drop in U.S. retail sales last month that suggested crude demand could remain weak amid a severe recession. The market also seemed immune to growing U.S. oil sto

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Oil Trades Near $49 as Stockpiles Gain on Economic Slowdown

posted by posh 1502 days ago in Oil, GDP

Oil was little changed near $49 a barrel, after falling the past two days, as U.S. crude stockpiles climbed amid signs of further economic weakness in the world’s biggest energy consumer.

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Oil Volatility Will Keep Killing the Economy in Waves

posted by emmypiu 1502 days ago in Fundamental, Daily, Oil

What a relief! Shai Agassi understands oil. In this regard, he stands apart from many global CEOs and even many who work in the oil industry. Better still, his company, Better Place, is actually very well positioned to do something about our ener

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US copper off in early retreat from new 6-mth high

posted by eriathwen 1502 days ago in USD, Metals, Retail Sales

U.S. copper futures opened down Tuesday morning in a profit-taking retreat from a new 6-month high above $2.20 a lb. set overnight, with an unexpected drop in March retail sales adding to the downside pressure, traders said.

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Oil prices 'must reach $75 to $80'

posted by Binsonu 1502 days ago in USD, Oil

Crude oil prices must return to levels of between $75 (£50.45) and $80 a barrel in order to secure future energy supply across the globe, Iran's oil minister has said.

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Copper rises 40% and raises hopes of turnaround

posted by Jmario 1503 days ago in Metals

Copper producers have been cushioned from the recession by a surge in the base metal's price of more than 40 per cent this year. Copper's central role in such heavy industrial activity as power and construction has led some economists to view the

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Oil sinks 4% on demand gloom

posted by juanpablo 1503 days ago in Oil

Crude oil fell the most in two weeks after an International Energy Agency report showed that 2009 demand may slump to the lowest level in five years as factories shut and car sales tumble amid a global recession.

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Oil prices slip

posted by piphole 1503 days ago in Oil

Crude oil prices slid Monday after the International Energy Agency lowered its projection of global demand for this year.

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Oil falls below $52 on IEA demand forecast

posted by camac 1503 days ago in USD, Oil, GDP

Oil prices fell to below $52 a barrel Monday in Asia after the International Energy Agency said it expects global crude demand to drop this year amid the worst worldwide recession in decades.

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Jim Rogers Prefers Oil to Gold as IMF May Sell Reserves

posted by sassygirl 1503 days ago in Gold, Oil, Metals

Investor Jim Rogers said he prefers oil over gold as he believes the International Monetary Fund will sell its reserves following the recent rally in the precious metal.

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Oil demand expected to hit five-year low

posted by morgan 1505 days ago in EUR, Oil

The thirst for oil will plummet to five-year lows in 2009, a respected energy advisory group warned yesterday, as countries around the world continue to suffer the effects of the financial crisis.

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Consumption pushes oil up near $51

posted by trader 1506 days ago in USD, Oil

Oil prices were near $51 a barrel Thursday as upbeat reports from some U.S. retailers suggested Americans may once again be willing to increase spending.

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