Oil Blog

Oil Price News 6/7/06

Bursa defends plan to license out daily CPO settlement prices
Business Times - Malaysia - Malaysia
... As it is, palm oil prices are already dictated by the Hamburg-based Oil World magazine and locally-based foreign cargo surveyors. ...

ENERGY STOCKS Oil and gas shares fall as crude prices slide
MarketWatch - USA
... told the Senate Foreign Relations panel that recent data indicates the United States "may finally be experiencing some impact" from sharply higher oil prices. ...

Canadian Stocks Fall a Third Day as Metals, Oil Prices Decline
Bloomberg - USA
and First Quantum Minerals Ltd. declined with prices for bullion and copper. Energy companies dropped with the price of crude oil. ...

Oil prices fall
The Australian - Sydney,Australia
WORLD oil prices slumped overnight on news that US energy reserves rose across the board last week, coupled with positive developments in the Iranian nuclear ...

US Stocks Rise as Oil Prices Drop; Target, Retailers Advance
Bloomberg - USA
... paced gains among retailers on the decline in oil prices and as the second-largest discount chain said earnings and margins will increase this year. ...

Rollback of petro prices ruled out
The Tribune - Chandigarh,India
... The industry experts said oil companies, which have shown marginal fall in their net profits despite spurt in crude oil prices, would have to adjust just Rs ...

Greenspan gloom over high oil prices
Scotsman - United Kingdom
FORMER Federal Reserve chairman Alan Greenspan yesterday painted a downbeat picture of the world's rising vulnerability to high crude oil prices. ...

EU, OPEC officials worry about oil prices
BusinessWeek - USA
JUN. 7 9:13 AM ET EU and OPEC officials said Wednesday they were worried about volatile oil prices and would work to make markets more stable. ...

Stocks Rise Modestly on an Easing of Oil Prices
New York Times - United States
Stocks stopped a two-day slide and ticked upward in morning trading today, while oil prices retreated. The Dow industrials, the ...

Greenspan warns on oil prices
Financial Times - London,England,UK
... “The US economy has been able to absorb the huge impact of rising oil prices with little consequence to date because it has become far more flexible over the ...

Oil Price News 6/1/06

Oil prices fall after US suggests direct talks with Tehran
CBC News - Canada
SINGAPORE (AP) - Oil prices extended losses Thursday, a day after declining on news that the United States had signalled a willingness to hold direct talks ...

Rising oil prices not to slow China demand
CCTV - Beijing,China
China's increasing oil demand is unlikely to be significantly affected by surging world oil prices, as domestic usage does not change on a seasonal basis. ...

Pump Prices Continue to Ease Slightly
Los Angeles Times - CA,USA
... Gasoline prices began rising more than two months ago as oil prices increased, gas supplies shrank and refiners in parts of the nation made a difficult ...

ENERGY MATTERS: US Oil Prices Headed For A June Swoon?
CattleNetwork.com - Stanley,KS,USA
... If that pattern holds, crude oil prices could struggle to hold $70 in June. The EIA projected in early May that demand for the main ...

Oil prices rise
NDTV.com - New Delhi,India
Oil prices regained some losses Thursday, a day after falling on news that the United States had signaled a willingness to hold direct talks with Iran on its ...

Oil prices fall below 72 dollars before energy stocks report
People's Daily Online - Beijing,China
World crude oil prices fell below 72 dollars Wednesday on the eve of US weekly energy stocks report, as the United States vowed to join the European Union in ...

Tensions affect oil prices: Venezuela
Indian Muslims - San Diego,California,USA
... explained. Ramirez said it was impossible to try to stabilise oil prices if there was no security in the producing countries. The ...

Shares Rise as Oil Prices Fall and Iran Worries Ease a Bit
New York Times - United States
Stocks closed higher yesterday, buoyed by the first drop in oil prices in a week and by signs that the tension with Iran over its nuclear program might ease. ...

Oil prices jump as gasoline demand rises
The Westfall Weekly News - Canada
WASHINGTON - Crude-oil futures rose slightly Thursday, gaining strength from a rally in gasoline futures after weekly US government data showed rising demand. ...

Left threat on hike in oil prices
Hindu - Chennai,India
... DELHI: The Left parties on Thursday threatened to stage protests all over the country against the proposed move by the Government to raise prices of petroleum ...

Iran blames US for high oil prices
Seattle Post Intelligencer - USA
CARACAS, Venezuela -- OPEC was poised to keep production steady Thursday as Iran blamed the United States for high oil prices, saying threats against its ...

Oil Price News 5/23/06

Hike in fuel prices may be
Daily News & Analysis - Mumbai,India
... prices is expected. Crude oil prices in New York rose to a record $75.35 on April 21 and April 24. They stood at under $70 on Monday. ...

Wide array of product prices rise with oil market
Scripps Howard News Service - Washington,DC,USA
... ailing the US economy lately. Raging oil prices are doing more than just aggravating SUV owners. They're starting to ripple through ...

Oil prices surge above 71 dollars on eve of energy stocks report
Xinhua - China
NEW YORK, May 23 (Xinhua) -- World crude oil prices surged above 71 dollars Tuesday amid concerns over an active hurricanes season, on the eve of US weekly ...

Oil prices settle above $71 a barrel
BusinessWeek - USA
... Gasoline futures advanced nearly 4 cents to settle at $2.095 a gallon, while heating oil prices also rose more than 6 cents to settle at $1.9989 a gallon. ...

Rising Oil Prices Send Solar Stocks Up
Houston Chronicle - United States
NEW YORK — Shares of solar stocks soared in afternoon trading on Tuesday as investors sought refuge from soaring oil prices. The ...

China Raises Oil Product Prices to Help Refiners (Update1)
Bloomberg - USA
... second-biggest energy consumer, raised prices of oil products for the second time this year to help refiners cover costs after crude-oil prices soared to ...

Oil prices rise past $70
NDTV.com - New Delhi,India
... Gasoline futures advanced 1.81 cents to $2.0755 a gallon (3.8 liters), while heating oil prices rose 1.08 cents to $1.9434 a gallon. ...

Oil prices hit SME index
Bangkok Post - Thailand
High oil prices are eroding the confidence of small and medium-sized enterprises, according to a new survey by the University of the Thai Chamber of Commerce. ...

Copper see-saws, gold lifted by strong oil prices
Business Times - Malaysia - Malaysia
Gold rose by 1 per cent to a session high of US$663.30 (US$1 = RM3.63) an ounce, buoyed by strong oil prices, while copper see-sawed between US$7,405 and US ...

Private cos free to fix oil prices
Navhind Times - Panjim,India
... companies (OMCs) are fixing the prices of sensitive petroleum products in consultation with it, private oil companies were free to fix the prices of their ...

Oil Price News 5/18/06

US, Saudi Arabia agree high oil prices are bad: Rice
Reuters - USA
WASHINGTON (Reuters) - The United States and Saudi Arabia agree that high crude oil prices are bad for global economic growth, US Secretary of State ...

US leading economic indexes lower on surging oil prices
Xinhua - China
... With the priceof a barrel of oil still around 70 dollars, and with interest rates slowly rising, the economy isn't likely to be picking up steam, he added. ...

Oil prices rebound after two-day decline
BusinessWeek - USA
MAY. 18 5:23 PM ET Oil prices climbed Thursday, reversing a two-day decline that was prompted by concerns about weakening demand. ...

Oil prices rise almost US$1 a barrel, rebounding after two-day ...
Canadian Business - Toronto,Ontario,Canada
WASHINGTON (AP) - Oil prices climbed by almost $1 US a barrel Thursday, reversing a two-day decline that was prompted by concerns about weakening demand. ...

Headwaters Cuts FY06 Forecast On Volatility In Oil Prices - Update
Trading Markets - Los Angeles,CA,USA
... The company noted that the uncertainty surrounding oil prices and lack of legislative action, which would affect its synthetic fuel production resulted in ...

PTT still keeps fuel prices unchanged
Thai News Agency MCOT - Bangkok,Thailand
... Executive Vice President of PTT, revealed the company’s decision to refrain from further raising the fuel prices was made because crude oil prices had begun ...
 

Russian Finance Minister Says Soaring Oil Prices Push Up Inflation
MOSNEWS - Russia
Russian Finance Minister Alexei Kudrin said on Wednesday, May 17, that Russian inflation is closely tied to global oil prices and expressed hope that annual ...

Higher Oil Prices boost HELPE Profit (18/05/2006)
Energy.gr - Greece
Greece’s largest refiner, Hellenic Petroleum (HELPE), reported stronger first-quarter net profits yesterday, helped by higher oil prices and favorable ...

Oil prices fall
NDTV.com - New Delhi,India
Oil prices fell below $69 a barrel on Wednesday after the US government data showed the domestic supply of gasoline rising for the third straight week amid ...

Rising oil prices will not impact GDP growth: Assocham
Hindustan Times - India
Industry body Assocham said on Thursday that rising oil prices are unlikely to affect India's GDP growth rate as the economy was no longer susceptible to oil ...

Oil Price News 5/8/06

Bringing Down Gas and Oil Prices
American Enterprise Institute - Washington,DC,USA
Once again, high gasoline and oil prices are in the news. As of this writing, the national average gasoline price per gallon ($2.90 ...

Ryanair CEO says high oil prices could hurt margins, but confident ...
Forbes - USA
FRANKFURT (AFX) - Ryanair might feel the impact from continually rising oil prices on business and the airline could see a dip in its margin levels should oil ...

Oil Industry Stocks Slip With Oil Prices
Houston Chronicle - United States
NEW YORK — Energy industry stocks retreated Monday, following oil prices lower, as investors worried about weakening demand and some cashed in profits from ...

EU confirms eurozone recovery, warns on oil prices
Monsters and Critics.com - Glasgow,UK
... cent. But the commission warned that high oil prices continued to cast a cloud over recovery throughout the EU. Commission monetary ...

Oil prices lift UK industry costs
RTE.ie - Ireland
... this morning show that British manufacturers' raw material costs surged by 2.5% in April, their fastest pace in nine months, as crude oil prices hit record ...

Oil prices fall below 70 dollars as Iran worries ease
Xinhua - China
NEW YORK, May 8 (Xinhua) -- World crude oil prices fell below 70 dollars Monday, as the worries over Iran eased and US energy stocks improved. ...

IEA's Mandil: Oil Prices Unsustainable
Houston Chronicle - United States
GOLD COAST, Australia — Current oil prices are not sustainable, the head of the International Energy Agency said Monday, adding that even producers aren't ...

India must raise fuel prices to ensure growth - CII
Reuters India - Mumbai,India
Surging global oil prices pose major risks for India, which imports 70 percent of its oil, and could prevent Asia's third-largest economy from achieving sought ...

Oil prices fall as supply worries lessen
BusinessWeek - USA
... Still, oil prices rebounded from the day's lows, as concerns remain about Iran, as well as unrest in Nigeria, violence in Iraq and rising resource nationalism ...

Pump prices cut for first time in 2006
Bangkok Post - Thailand
... those of other local oil traders. Esso announced that the new price cut followed a drop of global oil prices over the past days. ...

Oil prices extend gains
NDTV.com - New Delhi,India
Crude oil prices rose in Asian trading amid mounting international tensions over the nuclear ambitions of Iran, the world's fourth-largest oil exporter. ...

Oil Price News 5/4/06

US stocks surge on crude oil prices
Sydney Morning Herald - Sydney,New South Wales,Australia
NEW YORK - US stocks rose, helped by a sharp pullback in crude oil prices and strong April retail sales. The Dow Jones industrial ...

Robust sales lift US stocks, as oil prices dive
Xinhua - China
... YORK, May 4 (Xinhua) -- US stocks ended higher Thursday with the Dow refurbishing a six-year high on robust sales gains for April, as oil prices plunged below ...

Toronto market down, NY indexes rise as oil prices fall below US ...
CBC News - Canada
TORONTO (CP) - The Toronto stock market closed in the red Thursday as a sharp drop in crude-oil prices overshadowed rising gold stocks and profits from ...

2 More Thai Oil Retailers To Up Prices THB0.50/Liter; Fri
Yahoo! News - USA
... Thai oil retailers - a local unit of Royal Dutch Shell PLC (RD) and state-owned PTT PCL (PTT.TH) - Thursday said they will raise their retail oil prices by THB0 ...

Oil Prices Sink Below $70 a Barrel
ABC News - USA
... Rising oil prices have boosted prospects for alternative fuels that are both cleaner burning and less expensive than gas or diesel. (AP Photo/Mark Lennihan). ...

ECOFIN EU's Almunia says oil prices pose risk to growth, inflation ...
Forbes - USA
BRUSSELS (AFX) - EU economic and monetary affairs commissioner Joaquin Almunia said the high level of oil prices poses a risk to euro zone growth and inflation ...

Oil prices fall as US stockpiles climb
Business Times - Malaysia - Malaysia
LONDON: World oil prices slid further yesterday in the wake of a surprise increase in US energy stockpiles that sparked profit-taking, despite lingering ...

High Oil Prices Have Broad Impact on Prices of Many Consumer Goods
Voice of America - USA
... But some economists fear oil prices, which hit $74 dollars a barrel Tuesday, could slow economic growth by reducing disposable income. ...

Shell profit beats estimates on high oil prices
Financial Express - Bombay,India
MAY 4: Royal Dutch Shell Plc, Europe’s second-largest oil company, said Q1 profit rose as near-record oil prices compensated for output lost to violence in ...

Shell profits jump on high oil prices
Reuters.uk - UK
... Research) and France's Total (TOTF.PA: Quote, Profile, Research), reported big jumps in first-quarter profits on Thursday as higher oil prices more than ...

Oil prices fall for second straight day
BusinessWeek - USA
4 4:11 PM ET Oil prices sank more than $2 a barrel for the second straight day on Thursday, falling below $70 as traders focused on US government data that ...

Oil Price News 5/1/06

Saudi petrol prices slashed by 30%
Financial Express - Bombay,India
DUBAI, MAY 1: Amidst rising international crude oil prices, Saudi Arabia, the world largest oil producer, has slashed petrol prices in the kingdom by more than ...

Iran: UN sanctions would boost oil prices
IranMania News - Iran
... Mohammad-Hadi Nejad-Hosseinian said he did not believe the United Nations would impose sanctions on Iran because that would boost oil prices even higher ...

Canadian Stocks Rise as Oil, Gold Prices Climb; EnCana Advances
Bloomberg - USA
and Goldcorp Inc., as oil and bullion prices climbed. ... Rubin expects oil prices to average $77 a barrel in 2006 and $90 next year. ...

India: Oil prices a matter of concern
United Press International - USA
NEW DELHI, May 1 (UPI) -- Indian Finance Minister P. Chidambaram has said that rising oil prices are a matter of concern, The Asian Age reported Monday. ...

High oil prices will not hit GDP, says FM
Business Standard - India
Though the spurt in global oil prices is a “matter of concern”, it may not have a direct impact on the country’s GDP growth rate, Finance Minister P ...

Gold Watch: Iran, the US dollar, oil prices...sheer momentum
Resource Investor - Herndon,VA,USA
... Gold stayed near a 25-year high as rising oil prices, stoked by tensions between Iran and western governments, according to Bloomberg. ...

Why oil prices are high, and will stay there
Questions and Observations - USA
For those that think the oil prices we're now experiencing are a temporary blip, Robert Samuelson is here to disabuse you of that idea: Oil was cheap in the ...

PSU oil firms hike jet fuel prices by over 8.6%
Hindustan Times - India
... official of Indian Oil Corporation (IOC) said. Prices have been raised in line with the surge in international oil prices, he said. ...

Oil prices rise above $73 on Iran concerns
BusinessWeek - USA
MAY. 1 3:41 PM ET Crude oil prices rose above $73 a barrel Monday on supply concerns arising from Iran's defiance of a UN Security Council deadline to stop ...

Who wins and loses when gas prices skyrocket?
CNN - USA
... Even hyperefficient JetBlue has gone into the red. "High oil prices and continued losses will probably be a slow ... Not everyone is unhappy with high oil prices. ...

Oil prices push inflation to 6%
Bangkok Post - Thailand
Thailand's inflation as measured by the consumer price index (CPI) continued to surge in April on the back of soaring oil prices, rising to 6% year-on-year and ...

Oil Price News 4/26/06

Oil prices ease after data on fuel demand
Business Times - Malaysia - Malaysia
WASHINGTON: Crude oil futures eased for the third straight day yesterday, trading below US$73 ... motor fuel demand is weakening in the face of higher pump prices. ...

Ghana: Fuel prices to go up by 30%?
African News Dimension - Johannesburg,South Africa
... Crude Oil prices on the world market have gone beyond the 70 dollar mark over the past two weeks. According to the source the continued ...

Soaring oil prices put Reserve under pressure to lift rates
The Age - Melbourne,Victoria,Australia
... home buyers will be stung by higher interest rates have increased amid growing anxiety from within the Federal Government that soaring oil prices will trigger ...

Coconut oil prices seen rising to $700 this year
TMCnet - USA
(Manila Standard Via Thomson Dialog NewsEdge)The rising global demand for coconut oil is expected to further push prices to as much as $700 per metric ton ...

Oil Prices Slide for Third Straight Day
CBS News - USA
... Despite the recent declines, oil prices remain about a third higher than a year ago because of supply disruptions, geopolitical tensions and the scant surplus ...

Finance minister concerned with oil prices, interest hike and ...
TMCnet - USA
... situation would improve following His Majesty the Kings address last night, but conceded the economy would be dampened by surging oil prices, interest hike and ...

Uncertainties Keep Oil Prices At Record Levels
TMCnet - USA
(AllAfrica.com English Via Thomson Dialog NewsEdge)New York, Apr 26, 2006 (Vanguard/All Africa Global Media via COMTEX) --WORLD oil prices maintained record ...

ConocoPhillips, Amerada profits soar on oil prices
Reuters - USA
... 3 US oil company, on Wednesday reported quarterly profit surged 13 percent to well over $3 billion, driven by an unrelenting surge in oil prices. ...

Probe into petrol prices needed: NRMA
Sydney Morning Herald - Sydney,New South Wales,Australia
... "While crude oil prices have increased in recent times we have not seen anywhere bear the increase to justify these prices.". He ...

High oil prices increase interest in Illinois prospecting
Chicago Tribune - United States
So far this year, the Illinois Department of Natural Resources' regulatory oil and gas division has issued 245 oil-drilling permits. ...

Stocks stumble again on weak oil prices
Reuters Canada - Toronto,Ontario,Canada
... main index ended slightly lower on Wednesday, dropping for a third consecutive session as energy issues continued to sag amid weaker oil prices, but rising gold ...

Oil Price News 4/25/06

Oil Prices Slip on Bush Comments
FOX News - USA
... waivers will have a marginal impact, analysts said, given that the main force behind today's soaring pump prices is the near-record price of crude oil. ...

Oil falls as Bush takes aim at high energy prices
Reuters - USA
NEW YORK (Reuters) - Oil prices fell on Tuesday after President Bush took aim at surging energy costs by suspending crude deliveries to the emergency reserve ...

Nigeria: Oil Prices Hover Around $75 Per Barrel
AllAfrica.com - Washington,USA
WORLD oil prices eased yesterday on light profit-taking after blazing a trail last week to record high points which were hit on escalating concerns over the ...

Oil prices not helping cause of alternative fuels
CTV.ca - Canada
CALGARY -- Skyrocketing oil prices and global concerns about carbon-dioxide emissions doesn't appear to be helping the cause of alternative fuels a Calgary oil ...

Politics, oil prices causing stress
Bangkok Post - Thailand
Daily News Editorial _ The protracted political impasse and rising oil prices are affecting the mental health of Thai people. This ...

Bush unveils steps to counter high oil prices
Reuters - USA
WASHINGTON (Reuters) - President George W. Bush on Tuesday gave US refiners extra time to pay back emergency oil loans, and called on the government to find ...

Thai Oil Retailers To Raise Prices THB0.40/Liter Wed
Yahoo! News - USA
... gasoline and diesel products by THB0.40 a liter effective Wednesday. The hike will push local oil prices to fresh record highs. ...

UPDATE: CNOOC 1Q Rev Rises 45% On Oil Prices, Demand
Yahoo! News - USA
... producer by output, reported Tuesday its revenue for the three months ended March surged 45% from a year earlier, lifted by high crude oil prices and buoyant ...

Oil prices put Europe in skid
Chicago Tribune - United States
European stocks fell Monday on concern that record oil prices may restrain profit growth at companies such as DaimlerChrysler AG and British Airways PLC. ...

Renewed tensions boost oil prices
BBC News - UK
... OPEC), which meets over a third of world demand, promised to keep pumping oil at near maximum levels, but said it was powerless to pull down high prices.

High oil prices boost BP results
Monsters and Critics.com - Glasgow,UK
... High oil prices saw BP's exploration and production operations increase profits to $6.8bn, up from $6.5bn in the same period last year. ...

Oil Price News 4/24/06

Boiling oil prices will crank up inflation by 1 per cent
Daily News & Analysis - Mumbai,India
Oil marketing companies, staggering under the impact of gravity-defying global oil prices, are seeking an increase of Rs 5.6 a litre in the price of petrol and ...

Oil prices reasonable considering current world events: energy ...
CBC News - Canada
CALGARY (CP) - You'll likely hear howls of protests from consumers, but current record oil prices is a new reality, delegates at a Calgary energy conference ...

FTSE dips as financials struggle and oil prices slip off early ...
Scotsman - United Kingdom
... Oil-rig builder Abbot jumped 5.3 per cent, or 17p, to 340p after it said that it ... gave up much of their early push to record peaks as metals prices traded off ...

Bank report shows domestic oil prices keep rising in March
People's Daily Online - Beijing,China
A People's Bank of China report on Monday showed wholesale prices of processed oil climbed 2.6 percent in March from the previous month and 24.1 percent from ...

Why we should love high oil prices
Telegraph.co.uk - United Kingdom
... why the price is just as likely to fall back in the medium term, and it is worth rehearsing the reasons why a period of relatively high oil prices has not been ...

CANADIAN MARKETS Fall in crude-oil prices hits benchmark index
MarketWatch - USA
SAN FRANCISCO (MarketWatch) -- Stocks in Canada closed lower on Monday, led by weakness in the energy sector as crude-oil prices fell more than 2%. ...

Soaring oil prices a major concern to world
Xinhua - China
WASHINGTON, April 24 (Xinhua) -- Nymex crude oil prices fall below 74 US dollars a barrel on Monday in profit taking after surging to a record high of more ...

Rising oil prices lift Shell Canada profits
Toronto Star - Ontario, Canada
... "Strong commodity prices and refining margins contributed to ... The oil products division achieved record earnings of $154 million, up from $123 million in 2005. ...

Oil prices retreat below 74 dollars after hitting record highs
Xinhua - China
NEW YORK, April 24 (Xinhua) -- World crude oil prices, amid profit-taking and worries of supply in Iran and Nigeria, retreated Monday after hitting record highs ...

Treasuries Rise on Speculation High Oil Prices May Slow Economy
Bloomberg - USA
April 24 (Bloomberg) -- US Treasuries rose, pushing the benchmark 10-year note's yield below 5 percent, amid speculation that record oil prices will restrain ...

All thing considered, oil prices are reasonable: expert
Globe and Mail - Canada
CALGARY — You'll likely hear howls of protests from consumers, but current record oil prices is a new reality, delegates at a Calgary energy conference heard ...

Oil Price News 4/21/06

Petrol prices, interest rates set to soar over oil fears
Irish Examiner - Cork,Ireland
... The pressure is coming from record oil prices, which rose to $72.49 yesterday. The price of oil per barrel has shot up by 38% in ...

Oil prices help Complete Production IPO to $24/shr
Reuters - USA
... The Complete Production IPO comes during a week of record-high oil prices and against a backdrop of concern about a standoff between the West and Iran, the ...

As oil prices reach new high, consumers face new reality
USA Today - USA
... High gasoline prices aren't going to blow over like summer storms. If traders can bid up the price of oil so easily, then the best thing consumers can do is ...

Petrol prices set to jump as global crude oil surges again
Irish Examiner - Cork,Ireland
By Jim Morahan. IRISH petrol prices are expected to rise above €1.20 a litre today in the wake of yesterday’s record global crude oil prices. ...

High crude oil prices could be here to stay
MSNBC - USA
Traders work in the crude oil futures pit of the New York Mercantile Exchange this week as oil prices hit a record high. By John W. Schoen. ...

Emerging debt-Mixed on high US yields, oil prices
Reuters - USA
NEW YORK, April 20 (Reuters) - Emerging sovereign bond prices were mixed on Thursday amid high volume as persistently strong oil prices counterbalanced higher ...

Oil prices retreat after hitting record highs
Xinhua - China
NEW YORK, April 20 (Xinhua) -- World crude oil prices retreated Thursday as traders took profit, after hitting record highs amid worries of supply in Iran and ...

Canadian Stocks Fall With Gold, Oil Prices; Barrick Drops
Bloomberg - USA
... Oil touched $72.49 a barrel, a record intraday price ... Consumer prices rose 2.2 percent in March, led by rising costs for gasoline and housing, Statistics Canada ...

IMF chief warns high oil prices set to stay
Forbes - USA
WASHINGTON (AFX) - IMF chief Rodrigo Rato warned that record oil prices are here to stay and appealed for collective action to rectify widening imbalances in ...

Dow ends at 6-year high as oil prices retreat
People's Daily Online - Beijing,China
... Thursday and the Dow Jones industrial average ended with the highest since 2000 on strong earning of giant companies, as world crude oil prices retreated below ...

Venezuela blames US for high oil prices
BusinessWeek - USA
... Islamic republic. Oil prices fell slightly Thursday after reaching a record high above $72 a barrel. "It could reach $100 ... It ...

Oil Price News 4/18/06

Europe RoundupEquities fall after oil prices surge
Business Times - Malaysia - Malaysia
LONDON: European stock markets mostly dropped yesterday after crude oil prices struck new historic highs in London and New York. ...

Oil prices settle at record above $71 a barrel
Boston Herald - United States
WASHINGTON - Oil prices settled at a new high above $71 a barrel Tuesday as supply threats around the world overshadowed a new report from OPEC forecasting ...

Oil prices settle above $71 a barrel
BusinessWeek - USA
18 3:38 PM ET Oil prices settled at a new high above $71 a barrel Tuesday as supply threats around the world overshadowed a new report from OPEC forecasting ...

FTC should probe Big Oil on gasoline prices: senator
Reuters - USA
... US oil prices traded at an all-time high near $71 a barrel on Tuesday due to concerns over supplies from OPEC members Iran and Nigeria, pushing up gasoline ...

Firms tackling rising oil prices
The Daily Yomiuri - Osaka,Japan
... To cope with the upside pressure on crude oil prices, industrial materials makers have been inclined to raise their respective shipment prices. ...

Inflation may rise on soaring metal, oil prices
Economic Times - India
... the RBI has also warned about possible increases in inflationary pressures in FY07, which could arise from a greater pass-through of higher oil prices. ...

Oil prices soar amid Iran standoff threat
Stuff.co.nz - Wellington,New Zealand
... Oil prices have soared more than $10, or 16 per cent, in the past four weeks, buoyed by a fresh infusion of fund investment amid mounting concern about Iran's ...

Oil Prices Set New Record, Topping $71 a Barrel
NPR - USA
All Things Considered, April 18, 2006 · Prices for crude oil hit record highs of over $70 a barrel. At the end of trading, oil settled at $71.60 a barrel. ...

Toronto stocks jump as oil, metal prices surge
Reuters Canada - Toronto,Ontario,Canada
TORONTO (Reuters) - The Toronto Stock Exchange's main index leaped 138 points on Tuesday, reaching a new high as record metal and crude oil prices boosted the ...

Oil prices could put consumers over a barrel
MSNBC - USA
NEW YORK - This week's surge in oil prices to record highs could hurt the economy more than other increases in recent years because consumers no longer have ...

High oil prices curbing growth, warns Opec
Financial Times - London,England,UK
The Organisation of Petroleum Exporting Countries on Tuesday warned that high oil prices were slowing economic growth just as one of its most vocal members ...

Oil Price News 4/12/06

German shares sharply lower midday on oil price jump and as ZEW ...
Forbes - USA
FRANKFURT (AFX) - Shares were sharply lower in midday trade as oil prices raced towards the 70 usd a barrel level, following a mixed session on Wall Street ...

Oil prices and housing warning sends ISEQ tumbling
Ireland Online - Dublin,Ireland
The Irish stock exchange started the day off in negative territory this morning after oil prices rose again and the Central Bank warned of a slump in the ...

Oil prices to climb even higher: US Energy Dept
ABC Online - Australia
... MICHAEL ROWLAND: The forecast has been released as world oil prices continue to hover just below the $US 70 a barrel mark. Fuelling ...

German shares close down on record oil prices, no lift from Wall ...
Forbes - USA
FRANKFURT (AFX) - German shares closed lower as record high oil prices continued to weigh on stocks, with a majority of European exchanges turning south, and ...

Oil prices stillnear record as demand holds steady
Euronews.net - Lyon,France
Crude oil prices remain near record levels as tension mounts over Iran's nuclear programme and supply concerns in Nigeria and Iraq continue. ...

Oil prices likely to surge to new record highs
Reuters - USA
LONDON (Reuters) - An influx of fresh fund buying and geopolitical worries will most likely push oil prices to new record highs soon, analysts said on Tuesday ...

Petrol prices to rise as Iran crisis hits oil markets
Guardian Unlimited - UK
... of dearer petrol over the Easter weekend as concerns over Iran's nuclear programme, looming supply shortages and strong demand left oil prices poised to push ...

High oil prices crimp consumption: IEA
Business Times - Malaysia - Malaysia
... of Petroleum Exporting Countries (Opec) to the limit, production in some countries remains at risk from political tensions and high oil prices are now crimping ...

High oil prices drag down growth in euro countries
International Herald Tribune - France
DUBLIN The European Commission on Wednesday cut its forecast for economic growth in the dozen nations using the euro as rising oil prices and interest rates ...

US stocks rally as oil prices fall
People's Daily Online - Beijing,China
World crude oil prices fell Wednesday but still hovered above 68 dollars, as traders took profits on the weekly data that US crude oil reserves increased to ...

Oil Price News 4/11/06

Crude oil prices rise to $69 per barrel
Monsters and Critics.com - Glasgow,UK
NEW YORK, NY, United States (UPI) -- The price of crude oil rose early Tuesday in what looked like a serious run at $70 per barrel before closing only slightly ...

DJ Brazil Real Closes Stronger As Intl Oil Prices Ease -2
TMCnet - USA
... Dialog NewsEdge)Apr 11, 2006 (Dow Jones Commodities News via Comtex) --According to analysts, the real gained strength after international oil prices began to ...

Early market indicators generally negative while gold and oil ...
CBC News - Canada
TORONTO (CP) - With gold and oil prices rising, global composite market indicators were mostly negative early Tuesday. Wall Street ...

Soya oil prices soar on speculation
Hindu Business Line - India
... Soya oil prices on the futures exchange in Indore have soared to a new high of over Rs 400 per 10 kg trading lot, a huge jump of over 10 per cent in recent days ...

Domestic firms worried as global oil prices test $70 levels
Hindu Business Line - India
... According aviation industry sources, every one percentage point increase in international oil prices would result in an increase of about Rs 8-9 crore in the ...

Oil prices briefly exceed US$69 a barrel after rally in gasoline ...
CBC News - Canada
WASHINGTON (AP) - Oil prices briefly surpassed $69 US a barrel Tuesday, gaining strength from a rally in gasoline futures and declarations from Iran's ...

US stocks fall as oil prices hit 69 dollars
Xinhua - China
NEW YORK, April 11 (Xinhua) -- US stocks ended lower Tuesday amid concerns about inflation, as crude oil prices hit a seven-month high. ...

Oil prices won't reach 30 baht a litre: Ministry of Energy
TMCnet - USA
(FnWeb.com Via Thomson Dialog NewsEdge)fnWEB - Bangkok - April 11, 2006 - Thailand's Ministry of Energy believes that oil prices on the domestic market have ...

High oil prices can upset economic growth
Financial Express - Bombay,India
Testing times are here. The unprecedented rise in oil prices is potentially dangerous for developing countries on a high growth path. ...

US stocks fall as worries over oil prices increase
Reuters - USA
NEW YORK, April 11 (Reuters) - US stocks fell on Tuesday as investors worried that rising crude oil prices would hurt consumer spending and crimp corporate ...

London shares close weaker as stronger oil prices outweigh miners ...
Forbes - USA
... at the close, as Wall Street headed south, with strength in miner issues and robust results from Marks & Spencer offset by rampant oil prices, dealers said. ...

Oil Price News 4/6/06

Algeria minister backs high oil prices
United Press International - USA
ALGIERS, Algeria, April 6 (UPI) -- Algerian Energy Minister Chakib Khelil said Thursday he expected high oil prices until the end of the year. ...

US stocks fall as oil prices surge to near 68 dollars
Xinhua - China
NEW YORK, April 6 (Xinhua) -- US stocks fell on Thursday as the price of gold climbed above 600 dollars an ounce and oil prices surged to nearly 68 dollars a ...

US Stocks' Three-Day Rally Ends as Gold, Oil Prices Climb
Bloomberg - USA
... Oil rose to a two-month high on concern US refineries aren't ramping up production enough to meet summer driving season demand. Crude prices increased 87 cents ...

S&P 500 Falls as Oil Prices Increase, Retail Sales Disappoint
Bloomberg - USA
April 6 (Bloomberg) -- The Standard & Poor's 500 Index fell for the first time this month after oil prices jumped for a second day and retailers reported their ...

ADR Report: Oil Prices Rise, Pressuring Shares -2-
Yahoo! News - USA
NEW YORK (Dow Jones)--Oil prices topped $68 for the first time in over two months, and gasoline climbed to a six-month high of above $2 a gallon amid continued ...

Canadian Stocks Reach Record; Barrick Rises on High Gold Prices
Bloomberg - USA
... Funds, buying bullion to hedge against rising oil prices, have replaced jewelers as the biggest buyers in 2006, the London- based World Gold Council said in a ...

World crude oil prices approach 68 dollars
Xinhua - China
NEW YORK, April 6 (Xinhua) -- World crude oil prices increasedto nearly 68 dollars Thursday amid worries of supply in Iran and Nigeria, as US gasoline ...

Newmont Australia CEO sees high oil prices fuelling gold price ...
Forbes - USA
SYDNEY (AFX) - Newmont Mining Corp's head of Australian operations, Paul Dowd, said his group sees high oil prices as fuelling a rise in the gold price to near ...

US Energy Secretary: Oil Prices Eventually Will Impact Economy
CattleNetwork.com - Stanley,KS,USA
... during his speech at the Society of Automotive Engineers World Congress, Bodman said he's "worried" that the economy will suffer if oil prices stay above ...

Oil prices knock on $68 per barrel
Monsters and Critics.com - Glasgow,UK
NEW YORK, NY, United States (UPI) -- Crude oil prices continued their recent price increase Thursday with a run at the $68-per-barrel mark on the New York ...

Oil Price News 3/30/06

Toronto stocks nudge higher on oil, gold prices
Reuters Canada - Toronto,Ontario,Canada
... Reuters) - The Toronto Stock Exchange's benchmark index edged higher on Thursday, supported by a sharp increase in gold prices and oil prices that broke $67 a ...

High oil prices to slow down EA economies - WB
Sun.Star - Philippines
... Asia’s emerging economies are expected to grow at a slower 6.6 percent in 2006 after 6.8 percent last year as the impact of high oil prices continues, the ...

Stocks post rebound despite rising oil prices
Indianapolis Star - United States
... The rebound in stocks came despite another boost in crude oil prices, which rose 38 cents to settle at $66.45 a barrel on the New York Mercantile Exchange. ...

Competition helps depress prices for oil
Billings Gazette - MT, USA
... A special meeting of the Wyoming Pipeline Authority on April 25 will look specifically at the issue of oil prices in the Rocky Mountains. ...

DJ ASIA FUEL OIL: Cargo Prices Steady;Singapore HSFO Stks Dn
TMCnet - USA
(Comtex Business Via Thomson Dialog NewsEdge)SINGAPORE, Mar 30, 2006 (Dow Jones Commodities News via Comtex) --Physical fuel oil prices in Asia were largely ...

Canada's Dollar Rises as Gold, Crude Oil Prices Increase
Bloomberg - USA
... gold reached a 25-year high and crude oil advanced, boosting prospects that the country's economy will get additional support from gains in commodities prices. ...

MARKET WATCH US oil prices holding above $66/bbl
Oil & Gas Journal - Houston,TX,USA
... 30 -- Crude futures prices held above $66/bbl for a second consecutive day ... months, the militants have retreated to their camps after taking oil worker hostages ...

Oil traders, except PTT, raise fuel prices of all categories
Thai News Agency MCOT - Bangkok,Thailand
BANGKOK, March 31 (TNA) – All local oil traders, except PTT Public Company Limited, have decided to raise oil prices of all categories by 0.40 baht per liter ...

Oil prices advance above 67 dollars
Xinhua - China
NEW YORK, March 30 (Xinhua) -- World crude oil prices advanced above 67 dollars Thursday to two months high amid worries of supply, as Iran rejected a UN ...

Oil prices ease
NDTV.com - New Delhi,India
... Gasoline prices slipped less than 1 cent to $1.9465 a gallon (3.8 liters) while heating oil futures also dropped less than 1 cent to $1.8460 a gallon. ...

OGRA to vet OCAC proposals on oil prices
Daily Times - Lahore,Pakistan
ISLAMABAD: The Oil Companies Advisory Committee (OCAC) will continue to perform its basic function of giving initial determination of oil prices after every ...

Oil Price News 3/29/06

High oil prices will force CB to counter inflation - minister
RIA Novosti - Moscow,Russia
... said Wednesday the Central Bank will have to keep tight control of the amount of money in the country's economy to keep inflation down if oil prices remain high ...

Oil prices fall below $66 a barrel on profit-taking
KLFY - Lafayette,LA,USA
LONDON Crude-oil futures fell below 66 dollars a barrel today as some traders took profits after prices surged the previous day on supply concerns. ...

DJ ASIA FUEL OIL: Prices Up;Kochi Refineries Offers Apr HSFO
TMCnet - USA
(Comtex Business Via Thomson Dialog NewsEdge)SINGAPORE, Mar 29, 2006 (Dow Jones Commodities News via Comtex) --Asia fuel oil prices rose Wednesday, in tandem ...

Hamish McRae: Higher US rates, like higher oil prices, will cause ...
Independent - London,England,UK
... But I think not yet. For the time being the world economy will shrug off higher US interest rates, just as it has higher oil prices. ...

OGRA formally gets power to fix oil prices
Online - International News Network - Islamabad,Pakistan
The decision has been taken in backdrop of decision taken by federal cabinet that power of fixing oil prices be taken from Oil Companies Advisory Committee ...

Oil prices fall below $66
NDTV.com - New Delhi,India
... Gasoline prices rose 0.30 cent to $1.8875 a gallon while heating oil futures gained 0.73 cent to $1.8350 a gallon. Natural gas futures ...

Oil prices dip before US inventories data
Daily Times - Lahore,Pakistan
LONDON: World oil prices fell slightly on Wednesday as the market awaited the latest weekly snapshot of US crude inventories. Crude ...

Oil prices ease ahead of US inventory data
Financial Times - London,England,UK
Oil prices eased a little on Wednesday as investors paused following the previous session’s sharp gains, and ahead of weekly US inventory numbers. ...

Higher fuel prices boost Tullow results
IrishExaminer.com - Ireland
... Oil and gas prices will stay high and oil prices will range between $60 and $75 per barrel (€49.86-€62.32) well into the future, he warned.

Oil prices, rate worries weigh on markets
Toronto Star - Canada
... The latest burst came after crude prices advanced two per cent last week and investors ... are behind a spate of attacks that have cut Nigeria’s oil exports by ...

Oil Price News 3/27/06

GHope to take advantage of high rubber prices
Business Times - Malaysia - Malaysia
... a host of factors which include robust global demand, tight supply due to the rainy season, a pact among the world's top three producers and high oil prices. ...

Airline Stocks Higher, Helped By Dip In Oil Prices
Trading Markets - Los Angeles,CA,USA
(RTTNews) - Airline stocks recorded gains in the early stages of Monday's trading, helped by a moderation in oil prices. The sector ...

Oil prices advance in Asian trade
Sify - Taramani,Chennai,India
Singapore: Oil prices were higher in Asian trade today as the ongoing crude supply disruption in Nigeria, Africa’s largest producer of crude, sent jitters ...

Price of diesel declines despite rising oil prices
The Trucker - USA
The decline comes despite the fact that the price of oil went above $63 a barrel during the same week and comes on the heels of a 3.8 cent a gallon increase ...

As prices surge, oil giants turn sludge into gold
St. Louis Post-Dispatch - St. Louis,MO,USA
... But now, thanks to rising global oil prices and improved technology, most oil-industry experts count oil sands as recoverable reserves. ...

Oil prices stay lower as Nigerian militants release hostages
Forbes - USA
LONDON (AFX) - Oil prices stayed lower, still pressured by news Nigerian militants have released the three foreign oil workers they were holding hostage, but ...

Oil Prices Climb to $64 Per Barrel
African News Dimension - Johannesburg,South Africa
... The announcement pushed oil prices up by 3.5 percent as the US light sweet crude jumped to $64.60 per barrel while the international market benchmark crude ...

High oil prices push fuel prices across the board
Rocklin and Roseville Today - Rocklin,CA,USA
... Although crude-oil prices fell by more than $2 a barrel Monday to $60.42, that's still more than 7 percent higher than a year ago and triple what it was in 2001 ...

Oil prices edge lower but tensions remain as Nigerian militants ...
FXstreet.com The Futures Market - Barcelona,Spain
... Ritterbusch said he still sees gasoline as price leader in the energy complex, adding that crude prices should remain range-bound despite hefty stockpiles and ...

China raises oil prices
Monsters and Critics.com - Glasgow,UK
BEIJING, China (UPI) -- China has raised oil prices to offset refinery losses, conserve energy and bring domestic prices closer to international levels, state ...

Oil Price News 3/22/06

Government vigilant on oil prices
Daily Mail - UK - UK
It would also continue to be "vigilant" on oil prices. Mr Brown said that growth would be 2%-2.5% in the coming year, rising to 2.75%-3.25% in 2007-8. ...

Gas, heating oil prices up again
Newsday - Long Island,NY,USA
... Experts blame crude oil prices and the shutdown of some refineries for maintenance that had been deferred in the weeks after Hurricane Katrina. ...

DJ ASIA FUEL OIL: Prices Up; Shell Buys 100,000 MT Of HSFO
TMCnet - USA
(Comtex Business Via Thomson Dialog NewsEdge)SINGAPORE, Mar 22, 2006 (Dow Jones Commodities News via Comtex) --Asia fuel oil prices rose Wednesday, due to ...

Canada's Dollar Touches 2-Month Low as Gold, Oil Prices Decline
Bloomberg - USA
March 22 (Bloomberg) -- Canada's dollar touched a two-month low versus its US counterpart as prices of commodities including crude oil and gold declined. ...

Oil prices edge higher after US inventory report shows stock draw
Forbes - USA
LONDON (AFX) - Oil prices edged higher after a US government data showed energy stockpiles declined last week, but gains were limited by increased refinery runs ...

Commentary: Nationalized oil resources, political instability ...
Albuquerque Tribune - Albuquerque,NM,USA
... The common wisdom has been that rapid growth in China and to a lesser extent, India, is responsible for driving up world oil prices. ...

Canadian Stocks May Resume Slump as Gold, Oil Prices Decline
Bloomberg - USA
... bullion producers including Glamis Gold Ltd. and oil companies such as Suncor Energy Inc. decline with the prices of gold and crude. ...

Crude oil prices fall
NDTV.com - New Delhi,India
Oil prices dipped ahead of the release of a weekly fuel inventory report by the US Government expected to show a hefty increase in crude oil inventories. ...

Stock markets mixed amid Microsoft delay, lower oil prices, GM ...
CBC News - Canada
... tech sector reacted to disappointing news from Microsoft Corp. and oil prices dipped ahead of weekly inventory data from the US. ...

Stable oil prices might be a good thing for energy-heavy TSX
Globe and Mail - Canada
As oil prices oozed up a little yesterday, helping restore a bit of the ground they stole Monday from Canada's benchmark equities index, one investment ...

Oil prices ease ahead of US stocks report
TODAYonline - Singapore
World oil prices weakened as traders anticipated a healthy market update on crude stockpiles in the United States, the world's biggest energy consumer. ...

Oil Price News 3/20/06

Oil prices fuel sweet sugar returns
International Herald Tribune - France
... past 12 months, is poised to beat returns on bonds, stocks and oil for a ... Prices are soaring as record gasoline costs prompt Brazil, the world's biggest sugar ...

Crude Oil Prices Drop
Zaman Online - Istanbul,Turkey
... Due to concerns about problems relating to Iran, Iraq, and Nigeria, international crude oil prices remain 12 percent higher than last year.

Canadian Dollar Falls Most in Almost Two Weeks; Oil Prices Drop
Bloomberg - USA
March 20 (Bloomberg) -- Canada's dollar fell the most in almost two weeks as crude oil prices dropped. Crude oil and the Canadian ...

Lower oil prices drag TSX down
Toronto Star - Canada
... "I think the market has been remarkably resilient in the face of rising interest rates and very high oil prices," said Douglas Davis, president of Davis Rea Ltd ...

Crude Oil Prices Fall Monday, Unaffected by Niger Pipeline Attack
AXcess News - Carson City,NV,USA
(AXcess News) New York - Crude oil prices fall Monday, unaffected by an Niger Delta rebel attack on an Italian oil company's pipeline this weekend. ...

Schlumberger CEO energy prices to stay high on demand
MarketWatch - USA
... "Economies in the OECD countries proved remarkably resilient to high oil prices," Gould said in the kickoff speech at the Howard Weil conference. ...

Airlines Gain on Low Oil Prices
Houston Chronicle - United States
NEW YORK — Airline stocks took off Monday as crude oil prices dipped on lower demand and rising inventories, and after word of modest fare hikes emerged from ...

With supplies rising, oil prices fall
San Diego Union Tribune - United States
VIENNA, Austria – Oil prices slid Monday, maintaining downward momentum from late last week after OPEC lowered its demand forecasts and US crude oil ...

Oil prices slip further, weighed down by bulging US crude stocks ...
FXstreet.com The Futures Market - Barcelona,Spain
He conceded that in the longer term, "international competition for oil supplies and energy security will serve to push prices to ever higher records ...

Major Averages Close Mixed Amid Steep Drop In Oil Prices - US ...
Trading Markets - Los Angeles,CA,USA
(RTTNews) - Wall Street put in a mixed performance on Monday. A fall in oil prices and some strength among technology sectors gave support to the markets. ...

Oil Price News 3/16/06

Russian Energy Minister Says High Oil Prices Hamper Global ...
MOSNEWS - Russia
Russia’s Industry and Energy Minister Viktor Khristenko said on Thursday, March 16, that high oil prices hamper global economic growth and affect poor nations ...

Update 6: Oil Prices Advance in Technical Rally
Forbes - USA
Oil prices rose Thursday in what analysts chalked up as a technical rally that followed earlier selling. "Basically we hit some support levels ... ...

Nymex energy prices fall
United Press International - USA
... March 16 (UPI) -- The New York Mercantile Exchange was hard on energy futures Thursday, with price declines in all commodities, with crude oil prices just more ...

Oil prices extend decline as higher inventories weigh
Financial Times - London,England,UK
By Kevin Morrison. Crude oil prices extended their falls on Thursday following the release of data showing a fu