Prices

Oil

Oil recovery dented by rig count numbers

Source: 
Dow Jones

The rebound in oil prices following Wednesday’s slump was wiped out late Thursday by news of a jump in the number of rigs drilling for oil in the U.S. Light, sweet crude for August delivery settled down 3 cents to $56.93 a barrel on the Nymex, while in London, Brent finished up 6 cents to $62.07, Dow Jones reports.

Oil

Oil prices stable after steep dive

Source: 
Reuters

Oil prices recovered slightly early Thursday after a steep drop the day before that was prompted by news of production and supply gains. U.S. benchmark crude inched 6 cents higher to $57.02 a barrel in electronic trading on the Nymex, while in London Brent rose 29 cents to $62.30, Reuters reported.

Oil

Oil plummets as inventories swell

Source: 
The Wall Street Journal

An unexpected report of a jump in crude stockpiles sent oil prices sliding back down to April levels Wednesday. U.S. benchmark crude plunged $2.51, or 4.2 percent, to settle at $56.96 a barrel on the Nymex, while Brent dropped 2.5 percent to $62.01, The Wall Street Journal reports.

Oil

Steady crude prices avert more layoffs: Report

Source: 
FuelFix

A new report says that, while layoffs eased in May and June as crude oil prices stabilized, last winter's price collapse led to the country's biggest number of planned job cuts over six months since 2010, FuelFix reports.

Oil

Oil slumps on high production, Greek default

Source: 
Reuters

The Greek debt default and gains in U.S. crude stocks and production were pressuring oil prices early Wednesday. U.S. benchmark crude dropped 94 cents to $58.53 a barrel in electronic trading on the Nymex, while in London Brent fell 78 cents to $62.81, Reuters reports.

Oil

Oil jumps on Iran talks extension

Source: 
The Wall Street Journal

The decision to extend the deadline on Iran's nuclear talks helped support oil prices Tuesday, which finished with a 25 percent overall gain in the second quarter. U.S. benchmark crude for August delivery soared 2 percent, rising $1.14 to $59.47 a barrel on the Nymex, while in London Brent jumped 2.5 percent to $63.59, The Wall Street Journal reports.

Oil

Oil slips on Greek woes

Source: 
Reuters

Continuing concerns about the future of Greece in the European Union were weighing on oil prices early Tuesday. U.S. benchmark crude lost 14 cents to $58.19 a barrel in electronic trading on the Nymex, while in London Brent dropped 3 cents to $61.98, Reuters reports.

Oil

Oil slips on Greece banking issues

Source: 
Reuters

Crude oil prices slid further on Monday as traders looked to avert risks due to bank shutdowns in Greece and the slip in the deadline in nuclear talks with Iran, Reuters reports. Brent crude fell $1.20 to $62.02 a barrel, while U.S. crude dropped $1.30 to settle at $58.33 a barrel.

Oil

Oil slips on Greece bank shutdowns, controls

Source: 
Reuters

Concerns over bank shutdowns and new capital controls in Greece drove down oil prices early Monday, Reuters reports. Brent crude fell $1.66 to $61.60 a barrel, the lowest since June 5, while U.S. crude fell $1.40 to $58.23 a barrel, the lowest price since June 9.

Oil

Survey: US gasoline prices down 2 cents in the past 2 weeks

CAMARILLO, Calif. (AP) — The average price of gasoline has dropped 2 cents over the past two weeks to $2.85 a gallon.

Industry analyst Trilby Lundberg said Sunday that the decline comes amid a 42-cent jump recorded over the previous nine weeks.

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