London: Oil traders are paying more than ever in the options market to protect against a plunge in crude prices. The gap between prices of options betting on a decline and those that would profit from a rise in oil widened to a record 10 percentage ...
Crude oil futures in New York fell below $66 a barrel, a 10 percent decline from this year’s high, marking a market “correction.’’ Crude oil is set for a third weekly drop after US unemployment rose to the highest in almost 26 years, signaling the ...
ANGOLA, OPEC's newest member, took over the group's presidency on Thursday as producers implement a record output cut to reverse last year's slump in prices. The rotating leadership of the Organization of Petroleum Exporting Countries passed to ...
CRUDE oil rose yesterday from a four-year low on speculation that prices of less than US$45 a barrel would strengthen OPEC's resolve to cut production. Oil has fallen 19 percent this week, and is heading for its biggest weekly drop since March 2003. ...
CRUDE oil has risen more than US$5 to a record on concerns that Israel may be preparing to attack Iran, while a strike in Brazil and renewed militant activity in Nigeria threaten to cut supplies. Oil rallied to a record high of US$146.90 a barrel in ...
NEW York's benchmark crude fell yesterday to the biggest discount in almost seven months relative to London's Brent oil as declining fuel demand cuts United States consumption and North Sea field maintenance crimps supply in Europe. The West Texas ...
STATOILHYDRO ASA, the Nordic region's largest oil and natural-gas producer, shut down 138,000 barrels a day of oil production from three platforms in the North Sea following a leak. Production was stopped at the Statfjord A, Snorre A and Vigdis ...
CRUDE oil futures rose to a record US$110.70 a barrel as the sinking value of the dollar attracted investors to commodity markets. The tumbling dollar has drawn investors to the crude market as commodities become cheaper for buyers with other ...
OIL rose above US$92 a barrel for the first time in New York yesterday after the United States accused Iran's military of supporting terrorism and stepped up pressure on foreign companies to cut ties with the Middle East oil producer. Crude oil also ...
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