Category Archives: General News

West Texas Intermediate crude swung between gains and losses near the highest level in a week. Syrian government forces started an offensive against rebels, renewing concern that unrest could destabilize the Middle East. Futures fluctuated in New York after rising for a … Continue reading →

West Texas Intermediate crude advanced to a one-week high on signals that global economic growth will accelerate, bolstering fuel consumption. Futures increased 0.9 percent as the Thomson Reuters/University of Michigan preliminary indexof consumer sentiment rose to 83.7 in May, higher than … Continue reading →

The Cabinet on Thursday approved the proposal to allow Steel Authority of India (SAIL) and Rashtriya Ispat Nigam Limited (RINL) to undertake direct chartering of ships without going through the centralised chartering organisation under the Ministry of Shipping and Road … Continue reading →

This year, Brazilian crude oil production growth is expected to be around 110 thousand b/d, said London based Barclays in its recent market analysis. The bank expects a modest production growth in 2013. Part of this growth should be delivered … Continue reading →

The premium traders in Asia are paying for the earliest deliveries of fuel oil is poised to slide from an eight-month high as Europe floods the region with excess supplies and Chinese refinery demand wanes. Deliveries to Singapore in June will … Continue reading →

Iron ore prices will remain strong into 2014 on sustained demand in China, the largest producer of steel, and as an increase in global supply takes longer than expected, according to Morgan Stanley. While the price has averaged $135 a … Continue reading →

Brent crude may drop below its April low of $96.75 a barrel as it completes a so-called Elliot Wave correction, according to technical analysis by CMC Markets. Futures declined the past two days after facing selling pressure at the 50-day … Continue reading →

West Texas Intermediate crude traded near the lowest level in more than a week before government data that may show U.S. stockpiles climbed to the highest since at least 1931. Brent oil’s premium to WTI narrowed. Futures fluctuated in New … Continue reading →

Brent crude oil prices are expected to resume range-bound trading at about $111/bbl in the tail end of the second quarter, stated London based Barclays in its recent market analysis. This will coincide with global oil demand surpassing 90 mb/d … Continue reading →

West Texas Intermediate crude fell for a third day, the longest run of declines in four weeks, as OPEC boosted output to the highest level in five months. WTI futures slid as much as 0.9 percent in New York, and London-traded … Continue reading →

A surge in US tight crude oil production has reached 2 mb/d; and it is expected to reach 2.8 mb/d by 2015 and 3.1 mb/d 2020, London based Barclays noted in a report. The improvement in drilling efficiency gains across … Continue reading →

The OPEC Reference Basket dropped for the second-consecutive month in April, declining by $5.39 or more than 5% to stand at $101.05/b. Year-to-date, the Basket declined by $10.22 or 8.7% from the same period last year. Crude oil futures took … Continue reading →

Up to half of the coal companies in Ordos, one of the major domestic coal producing regions in the Inner Mongolia autonomous region, are reported to have reduced or stopped production, because of falling electricity consumption and an increased use … Continue reading →

West Texas Intermediate crude fell for a second day as the dollar climbed, reducing the appeal of raw materials priced in the U.S. currency. Futures declined 0.4 percent as the Dollar Index advanced above 83 for the first time in … Continue reading →

India outpaced the rest of the world in terms of exports growth in 2005-12, charting a 17 per cent improvement over the seven-year period. As per the latest World Trade Organisation (WTO), this was even higher than arch-rival China’s exports … Continue reading →

South Africa’s Richards Bay Coal Terminal exported 6.24 million mt of coal in April, slipping 16.7% from the 15-month high of 7.49 million mt shipped in March, the latest operating data released by the port showed. However, total exports for … Continue reading →

West Texas Intermediate crude fell for the first time in four days before government data that may show U.S. stockpiles rose last week from an 82-year high. Futures slid as much as 1.3 percent as supplies climbed by 2 million … Continue reading →

US oil and gas professionals are losing their appetite for risk and are worried about rising operating costs, as they grapple with the consequences of a tougher, post-Macondo regulatory regime, according to new research published today by GL Noble Denton. … Continue reading →