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Oil prices retreat

Agence France-PresseMay 16, 2013 07:46

World oil prices fell on Thursday as US demand remained weak despite a drop in inventories, analysts said. Brent North Sea crude for delivery in June shed 38 cents to $103.30 a barrel approaching midday in London. New York's main contract, light sweet crude for June, dropped 75 cents to $93.55 a barrel. "Prices have found themselves under pressure as a result of the weekly inventory report from the US Department of Energy," said Commerzbank analyst Carsten Fritsch.

Oil down in Asia on weak US production data

Agence France-PresseMay 16, 2013 02:00

Oil was down in Asian trade Thursday as caution returned to the market following weak US production data, analysts said. New York's main contract, light sweet crude for delivery in June, dropped 33 cents to $93.97 a barrel and Brent North Sea crude for June delivery shed 16 cents to $103.52. "Disappointing industrial production figures raised concerns that the US economy is not doing as well as other data have been suggesting," Ric Spooner, chief market analyst at CMC Markets in Sydney, told AFP.

Oil prices fall below $94 a barrel after weekly survey shows crude inventories edge upward

The Canadian PressMay 15, 2013 20:35

BANGKOK - The price of oil fell below $94 a barrel Thursday after a survey showed crude inventories on the increase. Benchmark oil for June delivery was down 82 cents to $93.48 a barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 9 cents to finish at $94.30 a barrel on the Nymex on Wednesday.

Billion-year-old underground water could hold clues to early life on Earth, Mars

The Canadian PressMay 15, 2013 20:02

TORONTO - Deep underground within the Canadian Shield, scientists are probing for life — yes, life. Their laboratory is found at the bottom of mine shafts in Timmins, Ont., where pockets of water trapped inside crystalline granite rock have existed for at least a billion years, and may be as ancient as the geology itself — 2.7 billion years old.

Oil rebounds on US stockpile fall

Agence France-PresseMay 15, 2013 19:15

Oil prices recovered from sharp early losses to finish higher Wednesday after US stockpiles eased from record levels. New York's main contract, West Texas Intermediate crude for June delivery, added a modest nine cents from Tuesday to finish at $94.30 a barrel. In London Brent North Sea crude for June gained $1.08 to $103.68 a barrel. WTI was down some $2 a barrel in early trade, and Brent $1.50, before the US Energy Information Administration in its weekly report on petroleum stockpiles reported a surprise fall in crude oil supplies.

Perfect colourless diamond auctioned for record $23.5mn

Agence France-PresseMay 15, 2013 16:46

A new colourless, pear-shaped diamond weighing 101.73 carats raked in a record 23 million Swiss francs ($23.5 million, 18.5 million euros) at a Christie's auction in Geneva late Wednesday. The price, which does not include tax or commission, is the highest ever paid for a flawless colourless diamond, according to the auction house, which had hoped the gem would go for $30 million.

Perfect colourless diamond auctioned for record $23.5mn

Agence France-PresseMay 15, 2013 16:27

A new colourless, pear-shaped diamond weighing 101.73 carats raked in a record $23.5 million at a Christie's auction in Geneva Wednesday. The price, which does not include tax or commission, is the highest ever paid for a flawless colourless diamond, according to the auction house, which had hoped the gem would go for $30 million. apo-nl/gk

Geneva auction commands $26.7M for huge flawless diamond

The Canadian PressMay 14, 2013 19:30

GENEVA - A huge diamond unearthed in Botswana commanded an unearthly price of $26.7 million from Christie's auction house Wednesday amid the spring ritual of well-heeled bidders flocking or phoning in to Geneva's luxury sales. The pear-shaped gem accounted for more than a quarter of the $102 million in sales rung up by Christie's Wednesday night, a night after Sotheby's had $78 million in sales.

Oil rebounds in Asia on bargain-hunting

Agence France-PresseMay 14, 2013 03:15

Oil rebounded in Asian trade Tuesday on bargain-hunting following an overnight decline, but analysts said economic worries in energy guzzlers US and China would continue to weigh on sentiment. New York's main contract, light sweet crude for delivery in June gained 19 cents to $95.36 a barrel and Brent North Sea crude for June delivery was up one cent to $102.83 in the afternoon. "Oil has rebounded primarily because traders think it is a good buying opportunity," Victor Shum, managing director of IHS Purvin and Gertz in Singapore, told AFP.

Oil prices fall after flat OPEC demand outlook

Agence France-PresseMay 13, 2013 16:30

Crude oil prices slipped Friday on renewed global demand worries after OPEC left its 2013 estimate unchanged and reported increased output in April. New York's main contract, West Texas Intermediate (WTI) for June delivery, closed at $96.04 a barrel, down 35 cents from Thursday. In London trade, Brent North Sea crude for June settled 56 cents lower at $103.91 a barrel. The WTI futures contract sank more than $3 before pulling back up in late-session trade.