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Oil falls below $96 per barrel as dollar rises

The Canadian PressMay 9, 2013 17:45

BANGKOK - The price of oil fell below US$96 per barrel Friday after signs of improvement in U.S. employment sparked speculation that the Federal Reserve might scale back its aggressive monetary policy. Benchmark crude for June delivery was down 53 cents to $95.86 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contact lost 23 cents to finish at $96.39 a barrel on the Nymex on Thursday.

Oil rises above $96 as US supplies rise less than expected, dollar weakens

The Canadian PressMay 8, 2013 09:35

Oil climbed to its highest price in more than a month on Wednesday, after the government reported U.S. crude supplies increased less than analysts expected. In New York, benchmark crude for June delivery rose US$1 to finish at $96.62 a barrel. It hasn't settled that high since April 2. The U.S. Energy Department said oil supplies grew last week by 200,000 barrels to 395.5 million barrels, which is 4.2 per cent above year-ago levels. Analysts were expecting an increase of 1.9 million barrels in the week ended May 3.

Oil slips on expectation U.S. supplies are growing and report on Saudis output

The Canadian PressMay 7, 2013 06:00

NEW YORK, N.Y. - The price of oil fell Tuesday on expectations of another increase in U.S. oil supplies. West Texas Intermediate, the benchmark crude in the U.S., fell 54 cents to finish at US$95.62 per barrel on the New York Mercantile Exchange. The U.S. Energy Department releases its weekly report on U.S. oil inventories Wednesday. Addison Armstrong, senior director of market research at Tradition Energy, expects supplies rose by 2.8 million barrels in the week ended May 3. Analysts surveyed by Platts expect an increase of 1.9 million barrels.

Oil down on profit taking

Agence France-PresseMay 7, 2013 02:00

Oil prices eased in Asia on Tuesday with dealers taking profits after a rally on robust US jobs data and rising tensions in the Middle East, analysts said. New York's main contract, light sweet crude for delivery in June dropped 60 cents to $95.56 a barrel in the afternoon and Brent North Sea crude for June delivery shed 40 cents to $105.06. "People are squaring up on what has been a fairly good rally," David Lennox, resource analyst at Fat Prophets in Sydney, told AFP.

Oil down on profit taking

Agence France-PresseMay 6, 2013 23:30

Oil prices eased in Asia on Tuesday with dealers taking profits after a rally on robust US jobs data and rising tensions in the Middle East, analysts said. New York's main contract, light sweet crude for delivery in June dropped 57 cents to $95.59 a barrel and Brent North Sea crude for June delivery shed 39 cents to $105.07. "People are squaring up on what has been a fairly good rally," David Lennox, resource analyst at Fat Prophets in Sydney, told AFP.

Oil prices rise after Israeli air strikes on Syria

Agence France-PresseMay 6, 2013 18:31

Oil prices climbed Monday after Israeli air strikes in Syria raised fresh concerns about rising tensions in the oil-rich Middle East. The main US futures contract, West Texas Intermediate crude for delivery in June, closed at $96.16 a barrel on the New York Mercantile Exchange, up 55 cents from Friday's closing level. The European benchmark, Brent North Sea crude for June delivery, soared $2.61 from Friday to settle at $105.46 on the Intercontinental Exchange in London.

Oil falls below $96 as fears over Syria ease

The Canadian PressMay 6, 2013 06:15

BANGKOK - The price of oil edged lower Tuesday as fears eased of Israeli involvement in Syria's civil war. The benchmark oil contract for June delivery was down 77 cents to US$95.39 at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 55 cents to close at $96.16 per barrel on Monday after news of an Israeli military strike in Syria raised concerns of an expanded conflict in the oil-rich Middle East. The price fell back below $95 before rising again late in the day.

Oil higher in Asia after robust US jobs report

Agence France-PresseMay 6, 2013 02:01

Oil was up in Asian trade Monday after an upbeat US jobs report bolstered confidence the US economic recovery is on track. US stocks surged to record highs following the report, with the buoyant mood also lifting the oil markets because a strong US economy -- the biggest in the world -- will mean greater demand for crude and other energy products. New York's main contract, light sweet crude for delivery in June added 84 cents to $96.45 a barrel in the afternoon and Brent North Sea crude for June delivery increased 56 cents to $104.75.

Oil rises above $96 as strong U.S. jobs data point to high demand

The Canadian PressMay 6, 2013 02:00

BANGKOK - Oil prices rose sharply again Monday as euphoria over a U.S. jobs report continued to push prices higher. Benchmark oil for June delivery was up 87 cents to $96.48 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract jumped $1.62 to finish at $95.61 on Friday after U.S. employers added a surprisingly solid 165,000 jobs in April. That drove down the unemployment rate to a four-year low of 7.5 per cent and suggested the U.S. economic recovery may be gathering pace.

Oil higher in Asia after robust US jobs report

Agence France-PresseMay 6, 2013 00:15

Oil was up in Asian trade Monday after an upbeat US jobs report bolstered confidence the US economic recovery is on track. US stocks surged to record highs following the report, with the buoyant mood also lifting the oil markets because a strong US economy -- the biggest in the world -- will mean greater demand for crude and other energy products. New York's main contract, light sweet crude for delivery in June added 91 cents to $96.52 a barrel in mid-morning Asian trade and Brent North Sea crude for June delivery increased 67 cents to $104.86.