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 ...