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Latest Brent Crude Stories

2009-01-07 11:17:00

CHICAGO, Jan. 7 /PRNewswire-FirstCall/ -- CME Group, the world's largest and most diverse derivatives exchange, today announced that financially settled crude oil, Brent crude oil last day, and natural gas calendar spread options contracts will trade on the New York trading floor and ClearPort(R), scheduled to begin January 25 for trade date January 26. The new calendar spread options contracts and their commodity codes will be: crude oil one-month spread (7A); crude oil two-month spread...

2008-12-09 08:00:00

ATLANTA, Dec. 9 /PRNewswire-FirstCall/ -- IntercontinentalExchange, Inc. (NYSE: ICE), a leading operator of global regulated futures exchanges and over-the-counter (OTC) markets, announced the introduction of 11 new cleared energy contracts in its OTC marketplace beginning January 9, 2009. ICE previously announced that it would be introducing more than 50 new cleared products beginning in December 2008 and continuing into 2009. The first tranche of 21 contracts launched on December 5....

2008-09-30 09:00:50

By Stevenson Jacobs Associated Press NEW YORK -- Oil prices tumbled more than $10 a barrel Monday, dropping back below $100 as a U.S. financial bailout failed to win legislative approval, raising fears of a prolonged economic downturn that could drastically erode global energy demand. Light, sweet crude for November delivery sank $10.52, or 9.8 percent, to settle at $96.36 on the New York Mercantile Exchange, after earlier dropping as low as $95.04. The dramatic sell-off capped a week...

2008-09-16 09:00:45

By Stevenson Jacobs Associated Press NEW YORK -- Oil prices closed below $100 a barrel for the first time in six months Monday, tumbling in another dramatic sell-off as the demise of Lehman Brothers and the sale of Merrill Lynch deepened worries about the U.S. economy. Crude prices shed more than $5 a barrel and have now given up virtually all their gains for the year, extending a steep, two- month slide from record levels above $147 a barrel. Oil's pullback also came as early signs...

2008-09-16 06:00:26

MOTORISTS look set to benefit from the market turmoil with oil prices tumbling on global growth fears, writes Scott Reid. A barrel of crude fell in trading on both sides of the Atlantic yesterday, aided by signs that Hurricane Ike had avoided wreaking too much havoc on key US infrastructure. However, yesterday's dealing session was overshadowed by the developments on Wall Street and subsequent financial market fallout as investors fled to safer havens. The collapse of Lehman Brothers...

2008-09-11 21:00:22

The price of Brent crude, the North Sea benchmark oil, for October delivery dropped $1.41 a barrel to $98.93, despite oil cartel Opec's decision to cut supply.Signs of a slowing economy in the United States expected to hit demand for oil brought an end to earlier rises with light, sweet crude also declining to $102.15 a barrel on the New York Mercantile Exchange.The International Energy Agency lowered its global oil demand forecast for both this year and 2009 to reflect slower economic...

2008-09-11 09:00:13

VIENNA, Austria (AP) -- The just-ended OPEC meeting was about more than what a barrel of oil can fetch on the open market as the global economic picture grows dim. OPEC heavyweight Saudi Arabia gave a nod, at least symbolically, to fellow member states that have grown increasingly uneasy about the rapid decline in crude prices. The Saudis attempted to placate rival Iran, and laid the groundwork for a potential new alliance with Russia, the world's second largest oil producer. But OPEC's...

2008-09-09 18:00:10

By ADAM SCHRECK DUBAI, United Arab Emirates - Oil prices sank today as Hurricane Ike appeared less likely to strike Gulf of Mexico energy installations and Saudi Arabia suggested OPEC will not cut output later in the day. Light, sweet crude for October delivery dropped $1.92 to $104.42 in electronic trading on the New York Mercantile Exchange by afternoon in Dubai. The contract inched up 11 cents to settle at $106.34 following a volatile session Monday. Investors were betting Hurricane...

2008-09-02 21:00:07

By Pablo Gorondi Oil prices tumbled to $111 a barrel Monday as Hurricane Gustav weakened along the Gulf Coast and posed less of a threat to oil drilling and refining operations. A stronger dollar also helped send oil lower after crude gained nearly $3 to trade above $118 a barrel in anticipation of Gustav's landfall in Louisiana. Light, sweet crude for October delivery was down $4.34 at $111.12 in late afternoon electronic trading on the New York Mercantile Exchange. On Friday, the...

2008-08-28 18:00:47

By Nevill Boyd Maunsell Economics Editor As the third anniversary of Hurricane Katrina's devastation of New Orleans approaches tomorrow, fears that a new hurricane could wreck oil rigs in the Gulf of Mexico sent oil prices sharply higher. Shell and BP both started evacuating non-essential workers from their offshore rigs, but said production was unaffected. Crude for October delivery jumped by EUR2.23 a barrel to EUR118.50 in New York yesterday afternoon. Brent crude was EUR1.85 higher...


Word of the Day
omphalos
  • The navel or umbilicus.
  • In Greek archaeology: A central boss, as on a shield, a bowl, etc.
  • A sacred stone in the temple of Apollo at Delphi, believed by the Greeks to mark the 'navel' or exact center-point of the earth.
'Omphalos' comes from the ancient Greek.
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