Brent Crude Oil Prices Exceed $113 amid Robust Economic Data

Brent crude oil prices remained at levels over $113 on Tuesday amid signs of growth in budgeted spending among U.S. businesses. These encouraging signs were observed a month ago, bolstering hopes that economies in general are on the mend. Market traders, however, continue to be vigilant pending publication of official economic data from the U.S. and China in the next few days. Meanwhile, U.S....
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Goldman Sachs Predicts Strong Oil Exploration this 2013

Banking giant Goldman Sachs said that this year will be another great year of growth in the activities of the oil exploration industry. According to a recent note of industry analyst Michael Rae, the appetite for oil exploration among petroleum giants has been strong since 2009, when the crude prices per barrel have started to consistently increase. The analyst said that this has led to a rise...
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Oil Prices Inch up as Talks of Raising US Debt Limit Prevail

Crude oil prices went up Friday when news broke out that the House of Representatives was pushing for a higher debt ceiling. If approved, the new debt limit may be sufficient to cover impending obligations for the next three months or so. According to the International Energy Agency, markets could expect oil prices to inch up some more as China’s oil consumption for 2013 is expected to reach a...
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Current Gas Prices in Southern California to Rise with Refinery Problems

Gasoline prices in Southern California may increase after the shutting down of two refineries in the region, warns an analyst of the industry. The retail price of gasoline is expected to rise 15 cents per gallon by the end of this week, said Bob Van der Valk. The most recent average price of regular gas in San Diego was $3.67 per gallon, a rate that is higher by 2 cents compared to last week,...
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AAA – 2013 Gas Prices will be Lower than Last Year

The American Automobile Association predicts that, following a usual surge in gasoline prices in spring, the current gasoline prices will be cheaper this year compared to last year. Because of stronger domestic oil output and weaker demand, AAA projects the national average gasoline price to sharply rise to between $3.60 and $3.80 a gallon, disregarding any important and unexpected events. That...
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