Prices

Oil

Oil down on strong supply, weak demand

Source: 
Reuters

Rising global supply and sluggish demand were continuing to weigh on oil prices. U.S. benchmark crude for December delivery dropped $1.08 to settle at $81.01 a barrel on the Nymex, $1.74 lower than the price a week ago, while Brent finished at $86.13, a loss of 70 cents on the day and 3 cents less than last Friday’s settlement price, Reuters reports.

Oil

Oil roller coaster falls again

Source: 
Bloomberg

Oil dropped again early Friday, retreating from previous gains, as traders decided news of a drop in Saudi supplies didn't signal a cut in OPEC production. West Texas Intermediate crude for December delivery fell 74 cents to $81.35 a barrel in electronic trading on the Nymex, while in London Brent slid 1.2 percent, trading $1.02 lower to $85.81, Bloomberg reports.

Oil

Oil soars on word of Saudi supply drop

Source: 
Bloomberg

Reports that Saudi Arabia supplied less oil to the global market in September than it did the month before helped to push oil prices higher Thursday. West Texas Intermediate crude for December delivery jumped 2 percent, gaining $1.57 to settle at $82.09 on the Nymex, while in London Brent crude picked up $2.12 to finish at $86.83, Bloomberg reports.

Oil

Fuel costs ease, US airline profits soar

DALLAS (AP) — Profits are soaring at the biggest U.S. airlines as fuel prices drop — but don't expect fares to fall too.

Heading into the busy holiday-travel period, the airlines expect even cheaper fuel, thanks to the nosedive in crude oil prices. The price of jet fuel, an airline's biggest single expense, has dropped by about one-fifth since mid-June.

Oil

Oil higher on strong international data

Source: 
Reuters

An increase in a Chinese manufacturing index combined with faster-than-expected growth in European industrial activity helped boost oil prices early Thursday. U.S. benchmark crude gained 20 cents to $80.72 a barrel in electronic trading on the Nymex, while in London Brent crude was up 25 cents to $84.96, Reuters reports.

Oil

Oil plunge resumes on stockpile increase

Source: 
Reuters

A greater-than-expected increase in crude inventories, coupled with falling stock prices and a strong dollar, sent oil prices tumbling again Wednesday. U.S. benchmark crude for December delivery slid 2.5 percent, or $1.97, to settle at $80.52 a barrel on the Nymex, while in London Brent lost $1.51 to end the trading day at $84.71, Reuters reports.

Oil

Oil firms as drop anticipated in gasoline stockpiles

Source: 
Bloomberg

Analysts were speculating on whether the bear market in oil has found its floor, as prices increased early Wednesday on expectation data would show that gasoline stockpiles dropped last week. West Texas Intermediate crude for December delivery was up 22 cents to $82.71 a barrel in electronic trading on the Nymex, while in London Brent gained 59 cents to $86.81, Bloomberg reports.

Office of Sen. Murkowski

Murkowski in no rush on oil exports

Recent studies, including one by the Government Accountability Office released this week, suggest that a repeal of the U.S. ban on crude oil exports could spur domestic oil production while pushing down gasoline prices and the trade deficit.

Yet the leading advocate in Congress for the reversal isn't drafting legislation -- for now.

A spokesman for Sen. Lisa Murkowski, R-Alaska, said Tuesday she has not decided whether, or when, to write any bill to repeal the ban. Further, she won't quickly pursue any legislation on a ban if Republicans take over the Senate and she gets the energy committee gavel.

Oil

Oil gains Tuesday on Chinese GDP numbers

Source: 
Bloomberg

A bigger-than-expected increase in Chinese quarterly gross domestic product numbers sent oil prices higher Tuesday. West Texas Intermediate crude for November delivery rose 10 cents as the contract expired, to $82.81 a barrel on the Nymex, while in London December Brent jumped 1 percent, or 82 cents, to $86.22, Bloomberg reports.

Oil

Oil price slide could dent shale boom: Analysts

Source: 
Bloomberg

If oil prices dropped to less than $80 a barrel, a third of U.S. production of shale oil would no longer be economically viable, an analyst told Bloomberg, which reports that such a major development would change the global energy picture.

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