Oil

Mar 28th, 2011

Oil Eases as Libya Rebels Recapture Major Oil Port

In other Nymex trading for April contracts heating oil fell 0.2 cents at US$3.05 a gallon and gasoline was steady at US$3.04 a gallon. World oil prices eased in Asian trade Monday as Europe debt concerns escalated following reduction in bailout package by the EU. Light sweet crude for May delivery was seen trading at US$105.02...

Mar 28th, 2011

Metals Energy Updates: Nat Gas Continues to Shine Copper Falls

The metal gained 0.7 percent this week after turmoil in Libya radiation leaks from a damaged nuclear reactor in Japan and Europe’s lingering debt crisis spurred demand for an investment haven US gold futures rose to record higher before falling and oil futures fell this week while the really shining commodity was natural gas which continued...

Jan 24th, 2011

Crude Oil Gains as U.S., Europe Economies Boost Outlook for Fuel Demand

March futures rose as much as 0.4 percent before a Commerce Department report this week that may show U.S. gross domestic product accelerated in the fourth quarter. Industrial orders in the euro area probably gained in November, according to a Bloomberg News survey before data scheduled for today. German business confidence unexpectedly climbed to a...

Nov 9th, 2010

Oil makes gains above US$87 a Barrel in Europe on Stronger Stock Markets, Softer Dollar

Oil prices have remained above US$87 a barrel, near 2010 highs, supported by rising stock markets in Europe and a weaker dollar. By early afternoon Tuesday in Europe, benchmark oil for December delivery was up 31 cents at US$87.37 a barrel in electronic trading on the New York Mercantile Exchange. Earlier in the day it reached...

Sep 6th, 2010

Oil Drops to Near $74 as Traders Eye US Economy

Oil prices slipped to near $74 a barrel Monday as traders weighed whether growing Chinese demand can offset weak U.S. fuel consumption amid high unemployment. By early afternoon in Europe, benchmark oil for October delivery was down 45 cents at $74.15 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 42...

Jun 16th, 2010

Oil Crops Production is Actively Promoted in Kazakhstan

Key products of Fat-and-oil industry are vegetable oil, margarine, cooking butter. Raw materials for these products are seeds and fruits of oil crops, including sunflower, soy, rape, safflower, maize, lint, etc. Kazakhstan is a traditionally crop country. In 2009 just 5.5% of the total cultivation area was used for oil crops, that is 1.5% more then...

May 10th, 2010

Oil Rises for First Time in Five Days on Europe Emergency Fund

(Bloomberg) — Crude oil rose for the first time in five days on speculation an emergency fund by European policy makers will be sufficient to contain sovereign debt risks and help maintain growth in the region. Oil climbed from a 12-week low on May 7 after European Union governments and the International Monetary Fund agreed to...

May 6th, 2010

Brent Oil Price at $82 Level as Europe Problems Hit Markets

Brent oil prices sank lower to the $82 – $83 mark in trading yesterday as increasing problems in Europe hit global stock markets. In early trading on Thursday, Brent crude oil futures is currently at $82.69 on the ICE Futures Exchange. “The market is realising the problem in Europe is not easy to fix,” said Clarence Chu,...

Apr 21st, 2010

Oil Rises Above US$84 in Europe as Stocks Rally on Earnings, Airports Open in Europe

Oil prices have advanced past US$84 a barrel as stock markets rally on strong corporate earnings and more airports opened in Volcanic ash stricken Europe, easing fears of dampened demand for crude. By early Wednesday afternoon in Europe, benchmark crude for June delivery was up 20 cents at $84.05 in electronic trading on the New York...

Apr 15th, 2010

Europe Products-Gasoline, Diesel Up on Tighter Stocks

LONDON - Gasoline and diesel rose in Europe on Thursday, supported by gains in Brent and tightening stocks of the motor fuels. But ICE gas oil futures came under pressure, with a strong rally in Brent and limited demand as Europe emerges from winter pushing its crack lower for the seventh straight day. GASOLINE AND...

Mar 17th, 2010

Oil Rises Above Us$82 in Europe on Bullish US Crude Supply Report, OPEC Output Targets Unchanged

Oil prices have risen above US$82 a barrel after a report showed U.S. crude inventories grew less than expected last week and OPEC decided to keep its output targets unchanged. By early afternoon in Europe, benchmark crude for April delivery was up 53 cents to US$82.23 a barrel in electronic trading on the New York Mercantile...

Feb 9th, 2010

Oil Climbs Above $72 in Europe as Weakening US dollar Offsets Doubts about Global Economy

Oil prices rose above US$72 a barrel Tuesday as a weakening U.S. dollar offset concerns about the strength of the global economic recovery. By early afternoon in Europe, benchmark crude for March delivery was up 40 cents at $72.29 a barrel in electronic trading on the New York Mercantile Exchange. The contract gained 70 cents to...

Jan 25th, 2010

Gas Prices Retreat in Philadelphia Area

Gas prices retreated a bit over the weekend, but are still almost a buck a gallon more than we were paying a year ago, according to AAA Mid-Atlantic. The average for a gallon of regular no-lead was down 1 cent from Friday in the five-county Philadelphia area, to $2.81, and down 2 cents, to $2.59, in...

Jan 12th, 2010

Oil price drops under $82

LONDON (AFP) - The price of crude oil dropped under 82 dollars Tuesday on expectations of easing heating fuel demand as warmer temperatures reach parts of the United States recently hit by a cold snap, traders said. New York’s main futures contract, light sweet crude for delivery in February fell 61 cents to 81.91 dollars a...

Dec 28th, 2009

Ukraine to Extract Oil, Gas from Black Sea

The Ukraine plans to begin developing oil and gas deposits in the Black Sea shelf in 2010. The statement was made by the Ukrainian Prime Minister, Yuliya Timoshenko, cited by the Bulgarian news agency BTA. Timoshenko says the State is to finance in 2010 large-scale work on the deposits after the conclusion of the court case to...

Dec 22nd, 2009

Petrom to Withdraw from Chemical Operations

Romanian oil company Petrom has decided to completely withdraw from the chemical products market, with an aim to increase its integrated operations. By the end of 2010, Petrom is planning to finalise the deal to sell its petrochemical operations of Arpechim refinery to state-held plant Oltchim, according to zf.ro.com. Petrom has taken the decision as chemical and...

Jul 15th, 2009

Korea Becoming More Energy-Efficient

Korea’s economic growth is outpacing the increase in energy consumption. The Korea Energy Economics Institute on Tuesday said energy consumption increased 2.7 percent a year on average from 2005 to 2007 while GDP grew 4.8 percent, indicating that Korea is gradually reducing power use. According to a 2005 report, energy consumption rose 3.4 percent. By...

Jul 9th, 2009

NatureWorks Doubles Ingeo Bioplastics Production Capacity; Considers New Plant in Asia

NatureWorks LLC, manufacturer of Ingeo™ PLA biopolymers from plants, have successfully installed and commissioned additional equipment allowing the facility to increase production from 70 metric tons to 140 metric tons (~ 300 million pounds) at its Blair, Nebraska, Ingeo manufacturing site. In late 2008, the plant inaugurated a new manufacturing supply process that further lowered...

Jul 8th, 2009

Asian Propylene Rangebound Although Oil Prices Continue to Fall

Asia’s propylene FOB Korea price benchmark held steady for a third day at $982.50/mt Wednesday even as crude oil prices continued to fall for a fifth consecutive day. The most competitive propylene offer was $1,000/mt FOB Korea for a 1,500 mt cargo to be loaded in August. Buying interest was at $970/mt FOB Korea The protracted downturn...

Jul 6th, 2009

India’s Hydrocarbon Profile Sees a Sea Change

Daily gas production has already crossed oil production figures. India’s hydrocarbon profile is on the cusp of a major change — the country is becoming more of a natural gas producer than a crude oil producer. Consider this: While India’s current oil production is around 660,000 barrels a day, that of gas has touched 676,000 barrels of...