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OIL FUTURES: Crude Hits 6-Mo High On Econ Optimism, Dollar

admin — Wed, 27 May 2009 10:40:11 +0000

By Lananh Nguyen LONDON (Dow Jones)–Crude oil futures rose to fresh six-month highs Wednesday in London as economic optimism and a lower dollar encouraged buyers.

Oil retreats from 6-month high

admin — Thu, 21 May 2009 17:15:31 +0000

Crude futures hang around $60 a barrel, pulled lower by a triple-digit sell off in the Dow and a stronger greenback. By Catherine Clifford, cnnmoney.

Venezuela To Seize Assets Of 60 Oil Service Cos -Chavez

admin — Fri, 08 May 2009 19:21:06 +0000

CARACAS -(Dow Jones)- President Hugo Chavez said Friday that Petroleos de Venezuela SA, PdVSA, will take over the assets of 60 different oil service firms across the country.

OIL FUTURES: Crude Retreats From 2009 High On Econ Uncertainty

admin — Tue, 05 May 2009 20:25:18 +0000

By Brian Baskin Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)–Crude oil futures fell back after hitting a high for the year as economic data expected later in the week threatened to dash hopes for a quick recovery.

US Markets Wrap: S&P 500 Erases 2009 Loss as Copper, Oil Gain

admin — Mon, 04 May 2009 21:59:12 +0000

By Lynn Thomasson May 4 (Bloomberg) — US stocks rose, erasing the Standard & Poor’s 500 Index’s 2009 loss, after home sales beat estimates and manufacturing in China increased for the first time in nine months, boosting confidence the global recession …

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Oil Rises to Highest in 5 Weeks as Pending Home Sales Increase

admin — Mon, 04 May 2009 21:48:29 +0000

By Margot Habiby May 4 (Bloomberg) — Crude oil rose to a five-week high as the number of Americans signing contracts to buy previously owned homes jumped along with spending on US construction projects, signaling energy demand may improve with the …

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Chevron’s quarterly net falls 64%; oil production up

admin — Fri, 01 May 2009 13:49:46 +0000

By Steve Gelsi, MarketWatch NEW YORK (MarketWatch) — Chevron Corp.’s first-quarter net income fell 64%, financial results showed Friday, as the last of the five oil majors absorbed the impact of a slower economy and a big slide in prices for crude …

Oil Trades Little Changed After Falling on Stockpile Concern

admin — Fri, 01 May 2009 13:47:47 +0000

By Alexander Kwiatkowski May 1 (Bloomberg) — Crude fell for the first time in three days in New York on speculation that prices have risen too far, too fast as stockpiles grow.

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Oil, Metals, Hogs Drop on Outlook for Demand After Swine Flu

admin — Tue, 28 Apr 2009 18:29:46 +0000

By Stuart Wallace and Chanyaporn Chanjaroen April 28 (Bloomberg) — Crude oil, industrial metals and hog futures dropped for a second day on speculation a global outbreak of swine flu will derail efforts to shore up economies, curbing demand for raw …

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Oil Prices Slump Below $49 a Barrel

admin — Mon, 27 Apr 2009 15:26:33 +0000

By GREGORY MEYER NEW YORK — Crude-oil futures dropped more than 6% Monday on concerns the deadly strain of flu showing up around the world will force travel cutbacks that undermine global oil demand.