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Latest Brent Crude Stories

2006-07-14 10:54:01

By Randy Fabi LONDON (Reuters) - Oil surged to record highs above $78 on Friday on fears the conflict between Israel and Hizbollah guerrillas could escalate and spread to more Middle East countries. Iran's nuclear standoff with the West, fears over oil supply in Nigeria due to militant attacks, an influx of fund buying and falling U.S. crude supplies also contributed to the rise in the oil market -- which is up nearly 30 percent this year. U.S. crude soared to as high as $78.40 a...

2006-07-14 05:59:55

By Randy Fabi LONDON (Reuters) - Oil surged to record highs above $78 on Friday on fears that conflict between Israel and Hizbollah guerrillas could escalate and spread to more Middle East countries. Iran's nuclear standoff with the West, fears over oil supply in Nigeria due to militant attacks, an influx of fund buying and falling U.S. crude supplies also contributed to the rise in the oil market -- which is up nearly 30 percent this year. U.S. crude soared to as high as $78.40 a...

2006-04-20 03:29:27

By Luke Pachymuthu SINGAPORE (Reuters) - Brent crude oil jumped to a fresh record high above $74 a barrel on Thursday after a steep drop in U.S. gasoline stocks fueled fears of tight summer supplies at a time of growing anxiety over Iran's exports. IPE Brent crude climbed as high as $74.22 a barrel, its eighth consecutive session to mark a new peak. It was trading up 20 cents at $73.95 a barrel by 0822 GMT. U.S. May crude oil futures rose 32 cents to $72.49 a barrel, its third day...

2006-04-19 05:48:25

By Simon Webb LONDON (Reuters) - Oil held above $72 a barrel on Wednesday on fears Iran's intensifying dispute with the West may lead to a supply cut from the world's fourth largest exporter. London's Brent crude fell 13 cents to $72.38 a barrel at 1030 GMT, just off the record of $72.64 hit on Tuesday. Brent has hit fresh records in each of the last six sessions as the loss of a quarter of Nigerian oil supply has tightened European markets more than the U.S., where crude stocks are...

2006-04-18 22:51:23

By Luke Pachymuthu SINGAPORE (Reuters) - U.S. oil held within sight of its record high above $71 a barrel on Wednesday as dealers feared Iran's intensifying dispute with the West over its nuclear aims may lead to supply cuts from the world's fourth-largest exporter. U.S. May crude oil futures fell 36 cents to $70.99 a barrel by 341 GMT, after hitting a record-high of $71.60 the previous day, breaking through last August's $70.85 peak. London's Brent crude eased a cent to $72.50 a...

2005-09-22 10:03:28

By Barbara Lewis and Janet McBride LONDON (Reuters) - Oil raced toward $68 a barrel on Thursday as Hurricane Rita bore down on the Gulf of Mexico and threatened to batter oil and gas infrastructure that is struggling to recover from Katrina. So far, eight refineries in Texas have been shut down as a precaution as Rita, now a maximum Category 5 storm, aimed her 175 mph (280 kph) winds on Texas, home to a quarter of U.S. refining capacity. She is expected to hit land by early...

2005-09-22 08:04:34

By Barbara Lewis and Janet McBride LONDON (Reuters) - Oil raced above $68 a barrel on Thursday as Hurricane Rita bore down on Gulf of Mexico and threatened to batter oil and gas infrastructure that is struggling to recover from Katrina. So far, six refineries in Texas have been shut down as a precaution as Rita, now a maximum Category 5 storm, aimed her 175 mph (280 kph) winds on Texas, home to a quarter of U.S. refining capacity. She is expected to hit land by early Saturday. U.S....

2005-09-22 06:54:08

By Barbara Lewis and Janet McBride LONDON (Reuters) - Oil raced above $68 a barrel on Thursday as Hurricane Rita bore down on Gulf of Mexico and threatened to batter oil and gas infrastructure that is struggling to recover from Katrina. So far, six refineries in Texas have been shut down as a precaution as Rita, now a maximum Category 5 storm, aimed her 175 mph (280 kph) winds on Texas, home to a quarter of U.S. refining capacity. She is expected to hit land by early Saturday. U.S....

2005-09-02 05:25:52

By Janet McBride LONDON (Reuters) - Oil stood at $69 and gasoline was in sight of record highs on Friday as a fuel crisis threatened in the United States and European policymakers struggled to find a coordinated response. Hurricane Katrina killed thousands and knocked out U.S. rigs and refiners when it ripped through the Gulf of Mexico earlier this week. Oil prices soared to levels not seen in real terms since 1980, the year after the Iranian revolution. As the world's biggest...

2005-09-01 12:08:26

By Janet McBride LONDON (Reuters) - Gasoline rode high at over $100 a barrel on Thursday as the United States scrambled to replace fuel supplies lost when Hurricane Katrina slammed into Gulf of Mexico rigs and refiners. President George W Bush told Americans he expected close ally Saudi Arabia to do "everything it can" to provide the United States with more oil and said there would be zero tolerance of price gouging at the gasoline pump. But Europe was unnerved by how ill-prepared...


Word of the Day
mundungus
  • A stinking tobacco.
  • Offal; waste animal product; organic matter unfit for consumption.
This word comes from the Spanish 'mondongo,' tripe, entrails.