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Latest Brent Crude Stories

2008-08-25 12:01:12

By Rosemary Gallagher OIL cartel Opec is expected to reduce supplies next month following a sharp fall in crude prices on Friday. The value of US crude fell 5.5 per cent to dollars 114.59 a barrel - the biggest drop in percentage terms in one day since December 2004. In London, Brent crude dropped dollars 6.24 to dollars 113.92 a barrel. Analysts put this drop down to rising supply levels and weakening global demand. They said this may lead Opec to cut the flow of oil when it meets in...

2008-08-15 00:00:34

By THE ASSOCIATED PRESS VIENNA, Austria - Tighter U.S. gasoline supplies propelled oil prices upward for the second day today with crude moving above the $116 a barrel mark. Light, sweet crude for September delivery rose 48 cents to $116.48 a barrel in electronic trading on the New York Mercantile Exchange by noon in Europe. The contract jumped $2.99 overnight to settle at $116.00 a barrel. "It's the first bright news for traders in the oil market in a while," said Gavin Wendt, head of...

2008-07-23 18:00:48

Husky Energy Inc. (TSX: HSE) reported net earnings of $1.36 billion or $1.61 per share (diluted) in the second quarter of 2008, an increase of 89 percent from $721 million or $0.85 per share (diluted) in the same quarter of 2007. Cash flow from operations in the second quarter of 2008 was $2.1 billion or $2.46 per share (diluted), a 66 percent increase compared with $1.3 billion or $1.48 per share (diluted) in the same quarter of 2007. Sales and operating revenues, net of royalties, were...

2008-07-17 15:00:56

By CHURCHOUSE, Nick OIL companies are standing by their pumps as the Automobile Association calls for a three-cent drop in petrol prices after crude oil prices dipped. Crude oil prices have jerked up and down in the last week, with Texas crude diving $6 a barrel on Tuesday in the largest single session drop since 1991. AA spokesman Mark Stockdale said it took time for crude prices to flow through to refined, a major driver of pump prices, but this time there was certainly room for a...

2008-07-16 15:01:02

By TIM SHARP OIL prices dropped to dollars139 yesterday as a strike by Brazilian oil workers did little to dent output and the outlook for the US economy worsened, but British MPs still demanded information that could show if speculators are manipulating the market. Oil prices reached a high of dollars147 on Friday on news of the Brazilian action. But yesterday, after hitting dollars146, light crude was trading down dollars6.44 on the day at dollars138.74 and Brent Crude was trading at...

2008-07-12 18:00:22

Oil prices yesterday set a new record above EUR147 a barrel amid fears over growing tension in the Middle East. Brent crude reached EUR147.02 on the London-based ICE Futures Exchange. It has now risen more than EUR10 in the past two days. Analysts cited concerns over missile tests by Iran, a member of oil production cartel Opec, as being behind the surge. Brent's previous record high was EUR146.69 a barrel, set on Thursday last week. The commodity fell to the EUR136 level earlier...

2008-07-08 09:01:01

By Jack Money, The Oklahoman Jul. 8--YEARS AGO, Oil Refiners Sought -- and were able to find -- barrels of light, sweet crude they could refine into every fuel the United States needs, such as gasoline, diesel and jet fuel. Not so much anymore, and that could affect prices we pay for just about everything made out of petroleum products, analysts say. That's because these days, just about any type of oil makes it to the refineries, including those with a heavier and more sour makeup....

2008-06-27 12:03:03

"The problem you had in California was caused by a combination of things: an unwise regulatory scheme, because they didn't really deregulate. Now they're trapped from unwise regulatory schemes, plus not having addressed the supply side of issues. They've [Californians] obviously created major problems for themselves." -- Vice-President Dick Cheney, May 17, 2001, on PBS's Frontline "Market fundamentals show us that production has not kept pace with growing demand for oil, resulting in...

2008-06-26 06:03:00

OIL prices tumbled yesterday as US weekly data showed an unexpected increase in crude oil inventories and sluggish fuel demand. US light crude fell to as low as dollars 132.25 a barrel before picking up slightly while London Brent crude was down by dollars 3.29 at dollars 133.17. US crude oil inventories rose by 800,000 barrels to 301.8 million barrels in the week to 20 June, according to the US energy information administration, compared with market expectations of a 1.4 million barrel...

2008-06-17 12:00:48

By DOUGLAS HAMILTON CRUDE oil futures soared by more than dollars5 to a record near dollars140 a barrel yesterday as traders ignored a promise from Saudi Arabia to lift production and instead fretted about the falling value of the dollar. US light, sweet crude for July delivery soared to a record of dollars139.89 before retreating to trade 25 cents down at dollars134.61 a barrel on the New York Mercantile Exchange. In London, North Sea Brent crude for August delivery surged dollars1.91 to...


Word of the Day
attercop
  • A spider.
  • Figuratively, a peevish, testy, ill-natured person.
'Attercop' comes from the Old English 'atorcoppe,' where 'atter' means 'poison, venom' and‎ 'cop' means 'spider.' 'Coppa' is a derivative of 'cop,' top, summit, round head, or 'copp,' cup, vessel, which refers to 'the supposed venomous properties of spiders,' says the OED. 'Copp' is still found in the word 'cobweb.'
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