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Crude oil prices jumped to more nearly $54 a barrel Thursday on the New York Mercantile Exchange on the coattails of a stronger equities market. U.S. markets surged Monday after the U.S. Treasury announced its plan to rid banks of toxic assets. Markets stalled Tuesday but made gains Wednesday and Thursday, pointing to a possible increase in demand for oil. Crude oil prices reached $53.92 per barrel, up $1.15 per barrel. Heating oil prices gained 0.0173 cents to $1.4813 per gallon....

Crude oil prices jumped to more than $54 a barrel overnight Thursday on the New York Mercantile Exchange on the coattails of a stronger equities market. U.S. markets surged Monday after the U.S. Treasury announced its plan to rid banks of toxic assets. Markets stalled Tuesday but made gains Wednesday, pointing to a possible increase in demand for oil. Crude oil prices reached $54.25 per barrel, up $1.48 per barrel. Heating oil prices gained 0.0265 cents to $1.4912 per gallon. Reformulated...

CALGARY, March 20 /PRNewswire-FirstCall/ - Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation") (TSX: AXC and LSE: AXC) announces that Mr. Jean Claude Gandur, President and Chief Executive Officer, will be presenting at the UBS European Mid-Cap Oil Conference in London, U.K. on Wednesday, March 25, 2009 at approximately 2:15 p.m. London U.K. Time (10:15 a.m. Eastern Time). The presentation slides will be available on Addax Petroleum's website at www.addaxpetroleum.com....

U.S. crude oil inventories increased by 700,000 barrels in the week ending March 6, the U.S. Energy Information Administration said Wednesday. Crude inventories rose from 350.6 million barrels to 351.3 million barrels and remain at more than the upper limit of the average range for this time of year, the report said. Gasoline inventories fell by 3 million barrels to 212.5 million barrels, while supplies of distillate fuels, which includes heating oil, rose from 143.3 million barrels to 145.4...

Crude oil prices rolled back on the New York Mercantile Exchange Tuesday after jumping $1.63 per barrel in the previous trading session. On Tuesday, crude oil prices dropped $1.41 to $45.74 per barrel. Heating oil prices edged 0.0195 cents lower to $1.202 per gallon. Reformulated blendstock gasoline slipped 0.0453 cents to $1.284 per gallon. Natural gas prices nudged up 0.017 cents to $3.875 per million British thermal units. At the pump, the average price for a gallon of regular unleaded...

Crude oil prices remained steady on the New York Exchange Wednesday amid concerns faltering economies are eroding global demand. The U.S. stock market will be key to watch on Wednesday, as equities are precariously poised at current levels, Edward Meir, an analyst at MF Global in New York told The Wall Street Journal. We could see another leg lower in both stock and commodity markets, he said. Wednesday morning, crude oil prices gained 6 cents to $35.10 per barrel. Heating oil prices gained...

Crude oil prices dropped $1.60 to less than $40 a barrel Friday on the New York Mercantile Exchange, as signs of an over-supplied market continue. On Wednesday, the U.S. Energy Information Administration said crude oil stockpiles rose by 7.2 million barrels in the week ending Jan. 30. Gasoline inventories rose slightly, up 300,000 barrels to 220.2 million barrels in the week. On Friday, crude oil prices dropped to $39.57 per barrel. Heating oil prices fell 0.243 cents to $1.3429 per gallon....

Crude oil prices rose 80 cents a barrel early Thursday on the New York Mercantile Exchange, as waning demand continues to pressure limits at storage facilities. When land-based storage units find breathing room or when market prices turn in traders' favor, ocean-going tankers quickly act like a diaphragm to replenish storage facilities on shore, keeping pressure on pricing, The Wall Street Journal reported Thursday. There's no database of ships sitting on storage right now. It makes it very,...

Crude oil prices rose 9 cents a barrel early Thursday on the New York Mercantile Exchange, as waning demand continues to pressure limits at storage facilities. When land-based storage units find breathing room or when market prices turn in traders' favor, ocean-going tankers quickly act like a diaphragm to replenish storage facilities on shore, keeping pressure on pricing, The Wall Street Journal reported Thursday. There's no database of ships sitting on storage right now. It makes it very,...

U.S. crude oil inventories increased by 7.2 million barrels in the week ending Jan. 30, the U.S. Energy Information Administration said Wednesday. Crude inventories rose from 338.9 million barrels to 346.1 million barrels during the week. Inventories, reflecting concern over falling demand and storage capacity limits, are above the upper limit of the average range for this time of year the report said. Gasoline inventories also rose, up 300,000 barrels to 220.2 million barrels, while...