(Bloomberg) - Crude oil and gold traded near records after a slump in the dollar against major currencies boosted the appeal of raw materials as an inflation hedge.
Oil reached a record $100 a barrel yesterday and gold soared to its highest ever. The dollar fell as traders increased the odds of a Federal Reserve cut in borrowing costs this month to 100 percent. Palm oil gained to a record today, soybeans were near a 34-year peak and corn was close to an 11-year high.
Read more at Bloomberg
Showing posts with label Crude oil. Show all posts
Showing posts with label Crude oil. Show all posts
Thursday, 03 January 2008
Monday, 06 August 2007
Crude Oil Falls a Second Day on OPEC Output Boost, Concern Demand Abating
(Bloomberg) -- Crude oil fell in New York, heading
for its biggest two-day decline since July 24, after OPEC
increased output and on concern losses in the U.S. mortgage
market will slow economic growth.
Members of the Organization of Petroleum Exporting
Countries, excluding Angola, raised production last month by the
most since September 2004, a Bloomberg News survey showed.
Prices of commodities including copper in Shanghai and platinum
in Tokyo declined, and stocks in Asia fell, extending a global
slump, on speculation waning growth will slow demand.
Read more at Bloomberg Energy News
for its biggest two-day decline since July 24, after OPEC
increased output and on concern losses in the U.S. mortgage
market will slow economic growth.
Members of the Organization of Petroleum Exporting
Countries, excluding Angola, raised production last month by the
most since September 2004, a Bloomberg News survey showed.
Prices of commodities including copper in Shanghai and platinum
in Tokyo declined, and stocks in Asia fell, extending a global
slump, on speculation waning growth will slow demand.
Read more at Bloomberg Energy News
Sunday, 05 August 2007
Oil Falls, Heading for Biggest 2-Day Decline Since June, on OPEC, Economy
(Bloomberg) -- Crude oil fell in New York, heading
for its biggest two-day decline since June, after OPEC increased
output and on signs U.S. economic growth will slow, reducing fuel
demand.
Members of the Organization of Petroleum Exporting Countries,
excluding Angola, raised production last month by the most since
September 2004, a Bloomberg News survey showed. Asian stocks
dropped on renewed concern losses in the U.S. mortgage market
will trim growth in the world's biggest economy.
Read more at Bloomberg Energy News
for its biggest two-day decline since June, after OPEC increased
output and on signs U.S. economic growth will slow, reducing fuel
demand.
Members of the Organization of Petroleum Exporting Countries,
excluding Angola, raised production last month by the most since
September 2004, a Bloomberg News survey showed. Asian stocks
dropped on renewed concern losses in the U.S. mortgage market
will trim growth in the world's biggest economy.
Read more at Bloomberg Energy News
Crude Oil Falls a Second Day on Concern Over Weaker U.S. Equities, Growth
(Bloomberg) -- Crude oil fell a second day in New
York after declining equity markets and weak U.S. economic data
weighed on investor confidence.
Oil dropped 2 percent last week as U.S. stock prices fell
for a third week and a report showed the nation's unemployment
rate reached a six-month high in July. Oil slipped from the
record $78.77 a barrel reached on Aug. 1 after a U.S. government
report that day showed fuel stockpiles rose as refineries ran at
the highest rates since August, 2005.
Read more at Bloomberg Energy News
York after declining equity markets and weak U.S. economic data
weighed on investor confidence.
Oil dropped 2 percent last week as U.S. stock prices fell
for a third week and a report showed the nation's unemployment
rate reached a six-month high in July. Oil slipped from the
record $78.77 a barrel reached on Aug. 1 after a U.S. government
report that day showed fuel stockpiles rose as refineries ran at
the highest rates since August, 2005.
Read more at Bloomberg Energy News
Tuesday, 31 July 2007
Oil Rises Above $78, Nearing Record as U.S. Refiners May Boost Operations
(Bloomberg) -- Crude oil rose above $78 a barrel in
New York, nearing a record, on speculation demand will outpace
supply as refiners increase fuel production.
Bets on rising prices by hedge funds and other speculators
rose to a record earlier this month, according to U.S. Commodity
Futures Trading Commission data. Global demand will climb 1.7
percent in 2008, showing no sign of slowing because of high
prices, a Deutsche Bank AG report showed. A government report
tomorrow may show U.S. oil supplies fell for a fourth week.
Read more at Bloomberg Energy News
New York, nearing a record, on speculation demand will outpace
supply as refiners increase fuel production.
Bets on rising prices by hedge funds and other speculators
rose to a record earlier this month, according to U.S. Commodity
Futures Trading Commission data. Global demand will climb 1.7
percent in 2008, showing no sign of slowing because of high
prices, a Deutsche Bank AG report showed. A government report
tomorrow may show U.S. oil supplies fell for a fourth week.
Read more at Bloomberg Energy News
Oil Rises to One-Year High on Expectation of Stronger Demand From Refiners
(Bloomberg) -- Crude oil rose to a one-year high in
New York on speculation demand will outpace supply as refiners
increase fuel production in preparation for the winter months.
An Energy Department report tomorrow may show that U.S.
crude-oil supplies fell for a fourth week, according to a
Bloomberg News survey of analysts. Demand tends to rise as
refineries begin to make fuels for use in the fall and winter.
Bets on rising prices by hedge funds and other speculators rose
to a record earlier this month, according to government data.
Read more at Bloomberg Energy News
New York on speculation demand will outpace supply as refiners
increase fuel production in preparation for the winter months.
An Energy Department report tomorrow may show that U.S.
crude-oil supplies fell for a fourth week, according to a
Bloomberg News survey of analysts. Demand tends to rise as
refineries begin to make fuels for use in the fall and winter.
Bets on rising prices by hedge funds and other speculators rose
to a record earlier this month, according to government data.
Read more at Bloomberg Energy News
Monday, 30 July 2007
Oil Is Steady, Close to One-Year High, on Expectations of Supply Shortfall
(Bloomberg) -- Crude oil was little changed, close
to a one-year high, amid speculation that consumption will
increase faster than production this year.
Crude-oil in New York rose 1.6 percent last week as a U.S.
government report showed the nation's economy expanded 3.4
percent last quarter, the fastest pace in more than a year.
Prices fell earlier today on concern that falling stock prices
would curb economic growth and energy demand.
Read more at Bloomberg Energy News
to a one-year high, amid speculation that consumption will
increase faster than production this year.
Crude-oil in New York rose 1.6 percent last week as a U.S.
government report showed the nation's economy expanded 3.4
percent last quarter, the fastest pace in more than a year.
Prices fell earlier today on concern that falling stock prices
would curb economic growth and energy demand.
Read more at Bloomberg Energy News
Wednesday, 18 July 2007
Crude Oil Rises as U.S. Gasoline Inventories Fall Unexpectedly Last Week
(Bloomberg) -- Crude oil rose, approaching an 11-
month high in New York, after an Energy Department report showed
that U.S. gasoline inventories unexpectedly fell last week.
Supplies dropped 2.24 million barrels, the report showed.
Analysts in a Bloomberg News survey expected an 850,000 barrel
gain. Gasoline imports plunged 36 percent to an average 915,000
barrels a day, the lowest since the week ended March 16, the
report showed. The oil market often follows gasoline during the
summer months, when motor-fuel demand rises to an annual peak.
Read more at Bloomberg Commodities News
month high in New York, after an Energy Department report showed
that U.S. gasoline inventories unexpectedly fell last week.
Supplies dropped 2.24 million barrels, the report showed.
Analysts in a Bloomberg News survey expected an 850,000 barrel
gain. Gasoline imports plunged 36 percent to an average 915,000
barrels a day, the lowest since the week ended March 16, the
report showed. The oil market often follows gasoline during the
summer months, when motor-fuel demand rises to an annual peak.
Read more at Bloomberg Commodities News
Tuesday, 17 July 2007
Crude Oil Rises to 11-Month High on Signs U.S. Refinery Demand Is Rising
(Bloomberg) -- Crude oil rose to an 11-month high in
New York on higher demand after OPEC ministers said the group
should maintain its restrictions on production.
The Organization of Petroleum Exporting Countries yesterday
raised a forecast for demand for its crude by 100,000 barrels to
31.1 million barrels a day in the fourth quarter. The U.S. Energy
Department will probably report tomorrow that crude-oil supplies
fell 700,000 barrels in the week to July 13, according to analysts
surveyed by Bloomberg News.
Read more at Bloomberg Energy News
New York on higher demand after OPEC ministers said the group
should maintain its restrictions on production.
The Organization of Petroleum Exporting Countries yesterday
raised a forecast for demand for its crude by 100,000 barrels to
31.1 million barrels a day in the fourth quarter. The U.S. Energy
Department will probably report tomorrow that crude-oil supplies
fell 700,000 barrels in the week to July 13, according to analysts
surveyed by Bloomberg News.
Read more at Bloomberg Energy News
Sunday, 15 July 2007
PetroChina's Production Climbs 3.7 Percent, Outpacing Exxon Mobil, Shell
(Bloomberg) -- PetroChina Co.'s first-half
production increased 3.7 percent as the nation's largest oil and
gas producer intensified efforts to meet rising energy demand.
Crude oil and gas output rose to the equivalent of 3.05
million barrels of oil a day, the Beijing-based company said
today. Oil production gained 0.1 percent from a year earlier,
while gas jumped 16.5 percent.
Read more at Bloomberg Emerging Markets News
production increased 3.7 percent as the nation's largest oil and
gas producer intensified efforts to meet rising energy demand.
Crude oil and gas output rose to the equivalent of 3.05
million barrels of oil a day, the Beijing-based company said
today. Oil production gained 0.1 percent from a year earlier,
while gas jumped 16.5 percent.
Read more at Bloomberg Emerging Markets News
Asia Energy Day Ahead: Crude Oil May Fall; GE Profit Increases 12 Percent
(Bloomberg) -- Crude oil may fall next week on
speculation U.S. gasoline inventories will increase as
refineries finish maintenance. General Electric Co., the world's
second-biggest company by market value, said second-quarter
profit rose 12 percent on sales of power-plant turbines, jet
engines and commercial loans outside the U.S.
MOST READ MARKETS STORIES
Read more at Bloomberg Energy News
speculation U.S. gasoline inventories will increase as
refineries finish maintenance. General Electric Co., the world's
second-biggest company by market value, said second-quarter
profit rose 12 percent on sales of power-plant turbines, jet
engines and commercial loans outside the U.S.
MOST READ MARKETS STORIES
Read more at Bloomberg Energy News
Friday, 13 July 2007
Oil Rises to 11-Month High as North Sea Output Declines on Closed Pipeline
(Bloomberg) -- Crude oil rose to an 11-month high
in New York and London after a pipeline shutdown and maintenance
work reduced North Sea Brent oil production.
Chevron Corp. and ConocoPhillips said they lost output from
North Sea fields that produce oil and gas after BP Plc closed
the pipeline. BG Group Plc said its Armada oil field in the
North Sea has been shut for maintenance since June. The
International Energy Agency said in a report today that global
oil demand will rise 2.5 percent next year.
Read more at Bloomberg Commodities News
in New York and London after a pipeline shutdown and maintenance
work reduced North Sea Brent oil production.
Chevron Corp. and ConocoPhillips said they lost output from
North Sea fields that produce oil and gas after BP Plc closed
the pipeline. BG Group Plc said its Armada oil field in the
North Sea has been shut for maintenance since June. The
International Energy Agency said in a report today that global
oil demand will rise 2.5 percent next year.
Read more at Bloomberg Commodities News
Thursday, 12 July 2007
Oil Is Little Changed After Report BP Is Starting Unit at Indiana Refinery
(Bloomberg) -- Crude oil was little changed in New
York after a report that BP Plc will begin startup today of a
unit at its Whiting, Indiana, refinery, the biggest in the
Midwest.
The 235,000 barrel-a-day crude unit, which was shut July 9
for unplanned maintenance, is expected to be at full rates by
next week, a person familiar with the plant's status said. The
refinery can normally process more than 400,000 barrels of oil a
day. The unit had been expected to start up this weekend.
Read more at Bloomberg Energy News
York after a report that BP Plc will begin startup today of a
unit at its Whiting, Indiana, refinery, the biggest in the
Midwest.
The 235,000 barrel-a-day crude unit, which was shut July 9
for unplanned maintenance, is expected to be at full rates by
next week, a person familiar with the plant's status said. The
refinery can normally process more than 400,000 barrels of oil a
day. The unit had been expected to start up this weekend.
Read more at Bloomberg Energy News
Tuesday, 10 July 2007
Crude Oil Climbs on Signs Gasoline Output to Drop Amid Refinery Mishaps
(Bloomberg) -- Crude oil rose, pulled higher by
gasoline on speculation that U.S. output of the fuel will slow
because of unexpected refinery shutdowns.
BP Plc closed the largest of three crude units at its
refinery in Whiting, Indiana, a person familiar with the plant
said yesterday. The refinery, the biggest in the Midwest,
supplies consumers in the Chicago area. Refineries in Texas and
Kansas shut units last week. The crude-oil market often follows
gasoline during the summer months, when motor-fuel demand peaks.
Read more at Bloomberg Commodities News
gasoline on speculation that U.S. output of the fuel will slow
because of unexpected refinery shutdowns.
BP Plc closed the largest of three crude units at its
refinery in Whiting, Indiana, a person familiar with the plant
said yesterday. The refinery, the biggest in the Midwest,
supplies consumers in the Chicago area. Refineries in Texas and
Kansas shut units last week. The crude-oil market often follows
gasoline during the summer months, when motor-fuel demand peaks.
Read more at Bloomberg Commodities News
Sunday, 08 July 2007
Crude Oil Trades Near 10-Month High on Nigeria Risks, U.S. Gasoline Demand
(Bloomberg) -- Crude oil was little changed in New
York near a 10-month high on concern unrest in Nigeria may
disrupt shipments and U.S. gasoline supplies may be insufficient
during the peak summer demand period.
Crude output from Nigeria, Africa's biggest producer, is
threatened by insecurity, Total SA Chief Executive Officer
Christophe de Margerie said July 7. U.S. gasoline stockpiles are
3.5 percent below their five-year average, the Energy Department
said July 5.
Read more at Bloomberg Energy News
York near a 10-month high on concern unrest in Nigeria may
disrupt shipments and U.S. gasoline supplies may be insufficient
during the peak summer demand period.
Crude output from Nigeria, Africa's biggest producer, is
threatened by insecurity, Total SA Chief Executive Officer
Christophe de Margerie said July 7. U.S. gasoline stockpiles are
3.5 percent below their five-year average, the Energy Department
said July 5.
Read more at Bloomberg Energy News
Crude Oil Trades Near a 10-Month High on Nigeria, North Sea Supply Risks
(Bloomberg) -- Crude oil was little changed near a
10-month high on concern unrest in Nigeria and maintenance of a
North Sea oil field will reduce supplies.
The main militant group in Nigeria's oil-producing Niger
River delta region condemned the kidnapping of a 3-year-old
British girl. Brent oil, produced in the North Sea, is also
rising because of planned maintenance at a field in the region.
Refineries in California, Texas and Kansas have shut or slowed
operations this week.
Read more at Bloomberg Commodities News
10-month high on concern unrest in Nigeria and maintenance of a
North Sea oil field will reduce supplies.
The main militant group in Nigeria's oil-producing Niger
River delta region condemned the kidnapping of a 3-year-old
British girl. Brent oil, produced in the North Sea, is also
rising because of planned maintenance at a field in the region.
Refineries in California, Texas and Kansas have shut or slowed
operations this week.
Read more at Bloomberg Commodities News
Thursday, 05 July 2007
Crude Oil Falls From a 10-Month High on Higher U.S. Gasoline Inventories
(Bloomberg) -- Crude oil was little changed after
surging to a 10-month high in New York amid expectations that
U.S. gasoline inventories will increase during July.
Gasoline stockpiles rose 1.85 million barrels to 204.4
million last week, according to an Energy Department report. U.S.
refineries operated at 90 percent of capacity, up 0.6 percentage
point from the prior week. Gasoline output rose 0.6 percent to a
record 9.4 million barrels a day. Implied demand for the fuel was
little changed at 9.56 million barrels a day.
Read more at Bloomberg Commodities News
surging to a 10-month high in New York amid expectations that
U.S. gasoline inventories will increase during July.
Gasoline stockpiles rose 1.85 million barrels to 204.4
million last week, according to an Energy Department report. U.S.
refineries operated at 90 percent of capacity, up 0.6 percentage
point from the prior week. Gasoline output rose 0.6 percent to a
record 9.4 million barrels a day. Implied demand for the fuel was
little changed at 9.56 million barrels a day.
Read more at Bloomberg Commodities News
Monday, 02 July 2007
Crude Oil Futures Decline as Refinery Shutdown in Kansas May Reduce Demand
(Bloomberg) -- Crude oil fell from a 10-month high in
New York as a refinery shutdown in Kansas cut demand.
Coffeyville Resources LLC shut its refinery in Coffeyville,
Kansas, yesterday because of flooding on the Verdigris River,
according to as statement on its Web site. The 108,000-barrel-a-
day refinery can produce about 2.1 million daily gallons of
gasoline.
Read more at Bloomberg Energy News
New York as a refinery shutdown in Kansas cut demand.
Coffeyville Resources LLC shut its refinery in Coffeyville,
Kansas, yesterday because of flooding on the Verdigris River,
according to as statement on its Web site. The 108,000-barrel-a-
day refinery can produce about 2.1 million daily gallons of
gasoline.
Read more at Bloomberg Energy News
Crude Oil Falls From 10-Month High on Signs Gasoline Supplies May Increase
(Bloomberg) -- Crude oil fell from near a 10-month high
in New York on speculation U.S. gasoline inventories would increase
as refineries increased output.
Crude oil for August delivery fell as much as 62 cents, or 0.9
percent, to $70.06 a barrel in after-hours electronic trading on
the New York Mercantile Exchange. The contract traded at $70.10 at
9:13 a.m. in New York.
Read more at Bloomberg Commodities News
in New York on speculation U.S. gasoline inventories would increase
as refineries increased output.
Crude oil for August delivery fell as much as 62 cents, or 0.9
percent, to $70.06 a barrel in after-hours electronic trading on
the New York Mercantile Exchange. The contract traded at $70.10 at
9:13 a.m. in New York.
Read more at Bloomberg Commodities News
Friday, 29 June 2007
Oil Gains as U.S. Refineries Increase Output, Midwest Stockpiles Decrease
(Bloomberg) -- Crude oil rose after supplies in the
U.S. Midwest fell to their lowest since March as refineries started
making more gasoline to meet summer demand.
Crude stockpiles in Cushing, Oklahoma, where the West Texas
Intermediate benchmark crude is priced, fell by 1.5 million barrels
last week, the Department of Energy said. Refineries increased runs
to 89.4 percent of capacity for the same week.
Read more at Bloomberg Commodities News
U.S. Midwest fell to their lowest since March as refineries started
making more gasoline to meet summer demand.
Crude stockpiles in Cushing, Oklahoma, where the West Texas
Intermediate benchmark crude is priced, fell by 1.5 million barrels
last week, the Department of Energy said. Refineries increased runs
to 89.4 percent of capacity for the same week.
Read more at Bloomberg Commodities News
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