Petroleum industry
Crude oil prices fell to a nine-week low on Thursday, battered by high U.S. oil inventories and weak demand. The decline was the largest since July 29, with the November delivery contract on the New York Mercantile Exchange (Nymex) settling at $65.89 a barrel, down 4.5% or
Petroleum industry
A recent joint study by the China Coal Information Institution (CCII) and Centric Austria International has predicted that China's clean coal-to-oil industry will substitute a substantial amount of crude oil by 2015 and 2020. According to the study, by 2015, the industry will substitute 37.79 million tons
Petroleum industry
Oil prices extended a decline on Monday, with crude futures falling 0.5% as a stable dollar and a stubborn oil surplus contributed to the selloff. The dollar's stabilization against the euro, albeit near a 2009 low, has investors uncertain about the currency's trajectory, leading some
Petroleum industry
Crude oil futures traded lower in London on Monday, pressured by a stronger dollar and a trade spat between China and the U.S. over the weekend. Analysts believe the dispute is relatively minor and will only provide short-term support for the dollar, but the market is anxious about the
Petroleum industry
President Barack Obama will continue to exert influence on the Federal Reserve with potential appointments for up to four seats on the central bank's board in the coming months. This development comes as Obama emphasizes continuity in reappointing Ben Bernanke as Chairman, following a high-profile announcement last month.
Petroleum industry
Oil futures shot higher Wednesday as investors bet on a global economic recovery, making oil and other commodities more attractive than the weakening dollar. Crude futures rose 51 cents, or 0.7%, to $71.61 a barrel on the New York Mercantile Exchange, with Brent crude trading 79 cents higher
Petroleum industry
In a bid to provide investors with concise and actionable strategies for navigating uncertain markets, Seven Summits Research has issued PriceWatch Alerts for ExxonMobil Corp. (XOM), Pfizer Inc. (PFE), Texas Instruments Inc. (TXN), Simon Property Group Inc. (SPG), and Moody's Corp. (MCO). These alerts, available at http://www.
Petroleum industry
Argentine stocks rose on Wednesday as Petrobras shares increased 3.01% after BP announced a significant oil discovery in the U.S. Gulf of Mexico, in which Petrobras holds a 20% stake. The Merval index, which is heavily influenced by Petrobras due to its significant market weighting, also rose as
Petroleum industry
KBR, a global engineering, construction, and services company, has been awarded a contract by ConocoPhillips and Saudi Aramco to provide detailed engineering and procurement services for the utilities package and interconnecting systems and pipe racks for the Yanbu Export Refinery Project. This project is a joint venture between ConocoPhillips and
Petroleum industry
The Philippines' major and independent oil companies simultaneously raised the prices of gasoline, diesel, and kerosene in response to the international market movement. The price adjustments were made by oil giants Pilipinas Shell Petroleum Corp., Petron Corp., and Chevron Philippines (formerly Caltex Philippines), which increased prices by P1 per
Petroleum industry
Russian stocks experienced a significant surge on Thursday, fueled by positive corporate results and increasing oil prices. The RTS index rose 2.83% to 1001.3 points, while the MICEX jumped 6.05% to 1046.46 points. Several major Russian companies saw significant gains, including Tatneft, Sberbank, Gazprom, and Lukoil.
Petroleum industry
Fuel prices in the Philippines have increased with six major oil companies implementing a P2 per liter price hike for gasoline, diesel, and kerosene. The move is a response to the international price surge, with the Dubai crude dropping by US$ 5 per barrel compared to the June average price.
