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25/01/2005
Brent crude reaches two-month high
Crude oil pushed to a two month high as trading exceeded expectations today on the London futures markets, as stocks of US heating oil fell.
According to Bloomberg a US inventory report on fuel stocks is expected to show a decline in reserves. However, mid-range weather forecasts for the northern US, a region which takes 80% of the US's heating oil supply, indicate that there are likely to be higher than normal temperatures from February on.
Markets were reacting to news that OPEC is to leave output quotas unchanged following the producers' meeting on January 30. However, while the worst of the severe US weather may now be over, there is lingering concern that stockpiles will remain low forcing up market prices as US stockpiles are replenished.
At lunchtime today Brent crude topped $46.40, and yesterday had hit $46.44 before slipping back 43 cents by yesterday's close.
Crude oil had hit a high of over $55 on the New York market in October, but quickly settled back to $48.80.
(SP)
According to Bloomberg a US inventory report on fuel stocks is expected to show a decline in reserves. However, mid-range weather forecasts for the northern US, a region which takes 80% of the US's heating oil supply, indicate that there are likely to be higher than normal temperatures from February on.
Markets were reacting to news that OPEC is to leave output quotas unchanged following the producers' meeting on January 30. However, while the worst of the severe US weather may now be over, there is lingering concern that stockpiles will remain low forcing up market prices as US stockpiles are replenished.
At lunchtime today Brent crude topped $46.40, and yesterday had hit $46.44 before slipping back 43 cents by yesterday's close.
Crude oil had hit a high of over $55 on the New York market in October, but quickly settled back to $48.80.
(SP)
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07 January 2015
Price Of Brent Crude Oil Drops Below $50
The price of Brent crude oil has dropped below $50 (£33) a barrel for the first time since May 2009. It fell to $49.99 a barrel this morning, however it rose back above $50. Nobuyuki Nakahara, a former oil executive and ex-member of the Bank of Japan's policy board, told Reuters he also expected further price falls.
Price Of Brent Crude Oil Drops Below $50
The price of Brent crude oil has dropped below $50 (£33) a barrel for the first time since May 2009. It fell to $49.99 a barrel this morning, however it rose back above $50. Nobuyuki Nakahara, a former oil executive and ex-member of the Bank of Japan's policy board, told Reuters he also expected further price falls.
14 May 2004
Crude oil prices hit record high
The price of crude oil, boosted by security fears and ever increasing demand from the US and China, has reached another record high – today hitting $41.50 per barrel at the New York Stock Exchange. The price of Brent crude oil in London has also jumped, surging to $38.40 – levels not achieved since the first Gulf War raged in 1990.
Crude oil prices hit record high
The price of crude oil, boosted by security fears and ever increasing demand from the US and China, has reached another record high – today hitting $41.50 per barrel at the New York Stock Exchange. The price of Brent crude oil in London has also jumped, surging to $38.40 – levels not achieved since the first Gulf War raged in 1990.
31 July 2014
Deal Done To Save Murco Oil Refinery
Four hundred jobs have been saved at the Murco oil refinery in Milford Haven after a buyer was found for the site. The refinery was facing closure following an announcement by owners Murphy Oil that it would no longer be buying crude oil for Murco to process.
Deal Done To Save Murco Oil Refinery
Four hundred jobs have been saved at the Murco oil refinery in Milford Haven after a buyer was found for the site. The refinery was facing closure following an announcement by owners Murphy Oil that it would no longer be buying crude oil for Murco to process.
15 November 2013
Green Light For £4bn Investment In 140m Barrel Oil Field Development
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Green Light For £4bn Investment In 140m Barrel Oil Field Development
EnQuest, the largest UK independent oil company in the UK North Sea, has given its go-ahead for a £4bn investment in the 140m barrel oil field Kraken development.
16 August 2007
Stock Markets Fall As Debt Concerns Bite
Stock markets have experienced further falls as concerns persist over the effects of lending to high risk creditors. In trading yesterday, Wall Street saw falls of almost 1.3%, the Nikkei in Japan closed down just under 2% and Germany's DAX-30 dipped almost 2%. Among the largest fall was Hong Kong where 3.3% was wiped off share values.
Stock Markets Fall As Debt Concerns Bite
Stock markets have experienced further falls as concerns persist over the effects of lending to high risk creditors. In trading yesterday, Wall Street saw falls of almost 1.3%, the Nikkei in Japan closed down just under 2% and Germany's DAX-30 dipped almost 2%. Among the largest fall was Hong Kong where 3.3% was wiped off share values.
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Northern Ireland WeatherThis Evening and Tonight:Continuing cloudy through the evening with further outbreaks of rain, the rain turning lighter and patchier from the south as the night progresses. Winds remain light. Minimum temperature 8 °C.
