Latest news
Daily Market Update, Friday, November 12, 2010
Oil was down below $86 per barrel on Friday, due to worries regarding Irish debt which led to an important withdrawal of riskier assets. At 10:25 GMT, U.S. crude decreased to $85.76, while ICE Brent dropped to $87.18 per barrel.
read more... 15/11/2010
Italy's third-biggest oil refiner spends $20 million on maintenance works.
Italy's third-biggest oil refiner Saras will spend around $20 million on refinery maintenance in 2011, $15 million less than in 2010, due to partial closure next year.
read more... 15/11/2010
Daily Market Update, Thursday, November 11, 2010
Oil increased above $88 per barrel on Thursday, due to a strong industrial output which raised Chinese demand and due to U.S. fuel stocks which heavily decreased. At 10:40 GMT, U.S. crude for December delivery increased at $88.32 per barrel, while ICE Brent climbed to $89.30 per barrel.
read more... 12/11/2010
OPEC expects more demand for its oil next year.
The world demand for OPEC's oil is expected to be higher next year, due to increasing rates of economic growth.
read more... 12/11/2010
Russia increased its oil export duty.
Russia may increase its oil export duty by 4% to $302 - $304 per ton in December, because of oil price increase to a two-year high.
read more... 11/11/2010