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Oil falls on economic data, lofty US supplies

Agence France-PresseMay 1, 2013 16:15

Oil prices Wednesday sank on fresh signs of economic weakness in the United States and China and after a US inventory report showed crude stocks at their highest point in more than 30 years. US benchmark West Texas Intermediate for June delivery settled at $91.03 a barrel, down $2.43 or about 2.6 percent. European benchmark Brent futures lost $2.42 to close at $99.95 a barrel. The decline came after a stream of disappointing economic data from the US and China, the world's top two oil-consuming countries.

Oil prices drop on weak Chinese data

Agence France-PresseMay 1, 2013 08:30

World oil prices slid Wednesday on weak Chinese and US economic data and ahead of the latest weekly snapshot of energy inventories in the United States. Brent North Sea crude for delivery in June fell 80 cents to stand at $101.57 a barrel in London midday deals. New York's main contract, West Texas Intermediate (WTI) for June shed 75 cents to $92.71 a barrel.

Oil stabilizes near $91, day after prices drop on bulging supplies

The Canadian PressMay 1, 2013 04:30

BANGKOK - The price of oil stabilized near US$91 per barrel Thursday after a big fall as traders digested an increase in U.S. crude inventories that suggested weak demand for fuel. Benchmark oil for June delivery was up 17 cents to $91.20 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract plunged $2.43 to finish at $91.03 a barrel on Wednesday after a sharp increase in American crude stockpiles and data from the U.S. and China that showed factory production in both countries grew at a slower pace in April.

New material to soak up oil spills?

Agence France-PresseApril 30, 2013 16:45

Scientists said Tuesday they had manufactured a lightweight and reusable material that can absorb up to 33 times its weight in certain chemicals -- a possible new tool against water pollution. The team made nanosheets of boron nitride, also called white graphene, that were able to soak up a wide range of spilt oils, chemical solvents and dyes such as those discharged by the textile, paper and tannery industries.

Oil falls after data show China manufacturing growth slowing

The Canadian PressApril 30, 2013 06:00

BANGKOK - The price of oil fell to near US$93 on Wednesday after data showed a slowdown in China's manufacturing growth. Benchmark oil for June delivery was down 45 cents to $93.01 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell $1.04 to finish at $93.46 per barrel on Tuesday in anticipation of another increase in U.S. crude supplies.

Sacked Russian Olympic official claims poisoning

Agence France-PresseApril 29, 2013 06:16

A former senior Russian Olympic Committee official fired by President Vladimir Putin over delays in building infrastructure for the 2014 Winter Olympics in Sochi said doctors had found higher than normal levels of mercury in his body, Interfax reported. Former Russian Olympic Committee deputy chief Akhmed Bilalov, who is being investigated by prosecutors for abuse of authority, said medics at a German resort where he is being treated had discovered traces of the toxic metal.

Mexico's Pemex posts $363 mn 1st-quarter loss

Agencia EFEApril 26, 2013 14:16

Mexico City, Apr 26 (EFE).- State-owned Petroleos Mexicanos announced Friday a first-quarter net loss of 4.4 billion pesos ($363 million), a sharp drop compared to the 40.4-billion-peso profit it posted over the same three-month period last year. Pemex's chief financial officer, Mario Alberto Beauregard Alvarez, said the result was a consequence of lower sales revenues and higher costs and expenses.

Blue diamond goes for a record $9.4 mn in London

Agencia EFEApril 25, 2013 11:19

London, Apr 25 (EFE).- A rare blue diamond weighing 5.3 carats sold for 6.2 million pounds ($9.4 million) at an auction in London, auction house Bonhams said. "The previous world record price per carat for a blue diamond was $1.68m. This rare gem was bought by Graff Diamonds, the international diamond house headquartered in New Bond Street, London. Bidding came from round the world via 25 telephone lines as well as bidders in the packed saleroom," Bonhams said in a statement.

Oil prices rally on weekly US stocks report

Agence France-PresseApril 24, 2013 14:16

World oil prices rose sharply on Wednesday as traders set aside demand concerns after a raft of weak global economic data, and digested the latest update on American energy stockpiles, analysts said. Brent North Sea crude for delivery in June jumped $1.31 to $101.62 per barrel in late afternoon deals in London. New York's main contract, light sweet crude for June, leapt $1.81 to $90.99 a barrel.

Oil prices rise before weekly US inventories

Agence France-PresseApril 24, 2013 08:00

World oil prices climbed on Wednesday before the weekly stockpiles report in top consumer the United States, winning support from rising equities and renewed speculation over a possible OPEC output cut, analysts said. Brent North Sea crude for delivery in June rose 72 cents to $101.03 a barrel in London midday deals. New York's main contract, light sweet crude for June, added 64 cents to $89.82 a barrel.