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Oil drops to near $73 in Asia after report shows US crude supplies jumped last week

8 hours ago ago from Gaea Times (by Simple Thoughts) Breaking News and incisive views 24/7

Oil drops to near $73 amid jump in US supplies SINGAPORE — Oil prices fell to near $73 a barrel Wednesday in Asia after a report showing unexpected growth in U.S. crude inventories cast more doubt on the recovery in the world's biggest economy. Benchmark crude for March delivery was down 53 cents at $73.22 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract jumped $1.86 to ...

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Oil climbs above $72 in Europe as weakening US dollar offsets doubts about global economy (Oil-Prices)

16 hours ago ago from Oilweek Online

Oil prices rose above US$72 a barrel Tuesday as a weakening U.S. dollar offset concerns about the strength of the global economic recovery.By early afternoon in Europe, benchmark crude for March delivery was up 40 cents at $72.29 a barrel in electronic trading on the New York Mercantile Exchange. The contract gained 70 cents to settle at $71.89 on Monday.Traders often buy commodities such as oil as a hedge against inflation and a weaker ...

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Oil climbs above $72 in Asia as weakening US dollar offsets doubts about economy (Oil-Prices)

21 hours ago ago from Oilweek Online

SINGAPORE _ Oil prices rose above US$72 a barrel Tuesday in Asia as a weakening U.S. dollar offset concerns about the strength of the global economic recovery.Benchmark crude for March delivery was up 38 cents at $72.27 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract gained 70 cents to settle at $71.89 on Monday.Traders often buy commodities such as oil as a hedge against ...

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Oil Nears $73 a Barrel

15 hours ago ago from OANDA Forex Blog

Oil approached $73 a barrel by mid-day trading in London today as a weaker US dollar had investors turning to crude. The price for March delivery rose 85 cents to $72.74 a barrel by 1:30 pm. After a very sharp sell off at the end of last week, it's making a tentative recovery. The dollar is helping and it's cold in the United States, said oil trader Christopher Bellew at Bache Financial. He added that signs the volume of oil stored at ...

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BTC Oil Pipeline Scheduled To Pump 23 Million Bbl In March -Trade - FOXBusiness.com

20 hours ago ago from FOX Business

Existing users please login User Name: Password: Remember me on this computer Home / Markets / Industries / Energy Tuesday, February 09, 2010 BTC Oil Pipeline Scheduled To Pump 23 Million Bbl In March -Trade   By Sherry Su Dow Jones Newswires   ...

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Oil Futures Slip After API Says Stockpiles Jumped - FOXBusiness.com

9 hours ago ago from FOX Business

Existing users please login User Name: Password: Remember me on this computer Home / Markets / Industries / Energy Tuesday, February 09, 2010 Oil Futures Slip After API Says Stockpiles Jumped   By Laura Mandaro MarketWatch Pulse   SAN FRANCISCO -- ...

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Oil rises 3% on weaker dollar

11 hours ago ago from CNN Money

Oil rises 3% on weaker dollar By Hibah Yousuf, staff reporter February 9, 2010: 3:25 PM ET NEW YORK (CNNMoney.com) -- Oil prices extended gains Tuesday as the dollar weakened against the euro after concerns over Europe's debt crisis eased. What prices are doing: Crude oil for April delivery rose $2.56, or 2.6%, to $73.75 a barrel. After falling nearly 8% over three consecutive sessions, crude prices rose 1% Monday to settle at $71.89. ...

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