Oil fell below $85 a barrel on Thursday on expectations of just a small rise in global demand for crude in 2013 and as signs of slowing global economic growth offset hopes that central banks will soon implement stimulus measures.
Oil fell below $85 a barrel on Thursday on expectations of just a small rise in global demand for crude in 2013 and as signs of slowing global economic growth offset hopes that central banks will soon implement stimulus measures.
LONDON - Oil prices fell below $99 per barrel on Thursday, retreating after a 2 percent rally the previous session, as the International Energy Agency said a slowdown could cap prices while investors waited for China’s GDP data due on Friday.
VIENNA — OPEC kept its world oil demand forecast for 2012 stable on Wednesday, despite warning of continued economic uncertainty.
European oil futures rose towards $99 a barrel on Wednesday, undergoing a slight correction from Tuesday’s losses after Norway’s government ordered an end to a strike which was threatening to cut off over 2 million barrels per day.
LONDON - Oil fell to $99 a barrel on Tuesday after Norway ended a strike that threatened to halt oil output and prospects for demand growth dimmed after China bought less oil.
Oil fell below $100 a barrel on Friday on expectations the Norwegian government would end an oil workers’ strike and as enthusiasm over central bank rate cuts waned.
Oil prices rose towards $102 a barrel on Thursday on fears Norway’s oil output could be sharply cut after Statoil called a lockout in a bid to end a strike and gains were further extended after China cut interest rates to stave off further economic slow down.
Crude oil prices fell back on Wednesday as investors returned their focus to the grim economic backdrop and took profits after the sharp gains in previous sessions.
Crude prices slipped in Asia Wednesday
Oil topped $100 a barrel for the first time in three weeks on Tuesday on supply concerns and as investors bet on further policy action to support global economic growth.