Canada Awards Atlantic to BP for Oil Exploration

Canadians are once again feeling the impact of an administration that is strongly pro-fuel as BP is given the areas of the Atlantic sea for offshore oil exploration and drilling. According to a recently issued statement of Canada-Nova Scotia Offshore Petroleum Board (CNSOPB), BP was the winning bidder of four blocks in the area with its impressive bid, amounting to $1.05 billion. The four...
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Brent and WTI Spread Widens to Highest Level

The difference in the per barrel crude oil prices of Brent, the benchmark used worldwide, and West Texas Intermediate (WTI), the benchmark mainly used in the U.S., just reached $25. That is the biggest difference between the two crude contracts in more than a year. Moreover, that difference is not so far from all-time record highs. The drop in the current crude price of West Texas Intermediate...
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Current Oil Prices Post a Continuous Fall

The current oil prices reflect a continuous drop in the midst of careful investor sentiment and worries regarding the condition of the world economy. On the ICE Futures Exchange of London, Brent for delivery in December was lower by 0.9 percent, or 93 cents, with  a crude price per barrel $108.08. On the New York Mercantile Exchange, the U.S. benchmark for delivery in December shed 0.8 percent,...
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Current Crude Oil Futures Prices Flat in London Trading

Oil prices traded flat for the most part in London trading as supply risks and economic instability combine to offer an environment of stable pricing. During early morning trading on the ICE Futures Exchange, the crude price per barrel of Brent for delivery in December shed 15 cents to $106.31. On the NYMEX, the U.S. benchmark was trading lower by 21 cents for a crude price per barrel of $84.89....
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Lundberg Survey – US Average Gasoline Price Makes its Largest Drop

The recently released Lundberg survey shows that in the past two weeks, the average price per gallon of regular gas in the United States made its largest fall since 2008 because of lower per barrel crude oil prices, a huge price cut in California’s gasoline prices and Hurricane Sandy. The latest gasoline price average was lower by 20.75 cents, at $3.5454 a gallon. In the week of October...
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