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Oil slides as Nigeria supply worries ease
Oil prices fell by more than $1 to near $70 on Monday after Royal Dutch Shell said it was preparing to resume exports from a Nigerian oilfield abandoned over a year ago because of militant attacks.
The news came two days after Nigerian unions ended a strike that had threatened to halt shipments from Africa’s biggest [...]
Oil prices edge higher, OPEC watched
Oil prices edged higher Thursday amid violence in Nigeria and concerns that OPEC may reduce output when it meets next week, but buying was kept in check by forecasts calling for warmer U.S. weather next week.
“I think the (warm) weather is going to prove to be a more powerful force if it does come,” said [...]
Oil slips toward $59, traders look to winter, OPEC
Oil deepened losses on Monday, easing toward $59 after a week of whipsaw trading left prices firmly stuck in a six-week trading rut and dealers looking ahead to winter weather or OPEC action to break free.
U.S. light, sweet crude for December delivery slipped 7 cents a barrel to $59.52 by 2339 GMT, pausing after [...]
Oil Companies Make Profits At Record-Breaking Levels, U.S Oil Drilling Analysist
With a sign in the background verifying the high price of gasoline, U.S. Sen. Dick Durbin called for curbing excessive speculation in the oil market, which he said is responsible for the continuing escalation of prices at the pump.
He said it’s not just supply and demand that is governing the rapid rise in gasoline and [...]
SKorean growth slows on weaker construction and farm sector
South Korea’s economy in April-June grew at its slowest quarter-on-quarter rate for over a year, hindered by weakness in the construction sector and reduced farm output, the central bank said.
The Bank of Korea said gross demestic product (GDP) grew 0.8 percent quarter-on-quarter — the lowest rate since 0.5 percent in the first quarter of 2005. [...]
