Crude Surplus Keeps Oil Prices Low

A surplus of crude from new North American sources is keeping the current oil prices low, according to the recent report of the International Energy Agency. According to the agency, crude from Canada and conventional oil from other sources are transforming oil prices worldwide. The effect on the per barrel oil prices of those fresh sources will be as important over the coming five years as the...
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Current Oil Prices Mixed in Asian Trading

The current oil prices in Asian trading are mixed as investors came back from a holiday weekend in the U.S. and a chokepoint at a main pipeline in the United States eased, said analysts. On the NYMEX, the U.S. benchmark crude for March delivery increased 6 cents to $96.72 per barrel. Meanwhile, Brent crude for April delivery shed 14 cents to a crude price per barrel of $117.38 on London’s...
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EIA Forecasts Lower 2013 and 2014 Gasoline Prices

Lower average prices of gasoline can be expected by Americans this year as well as in the coming year. According to the forecast of the U.S. Energy Information Administration (EIA), the current gasoline price will end the coming year at an average of $3.44 per gallon and, further, drop next year to $3.34 per gallon. Both forecasts are lower compared to the recorded annual average at the pump in...
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Crude Futures Prices Higher on Expectations of New Fed Stimulus

Crude futures prices were higher by 1.31 percent on expectations of a fourth set of financial stimulus from the Federal Reserve of the United States. In early morning trading, crude futures prices for delivery in January were up by $1.12 to $86.91 per barrel. According to analysts, riskier assets, like oil, were obtaining a boost from the expectations of the market that the Fed will be...
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Asian Current Oil Prices Bounce Back

The current oil prices bounced back in Asian trade on bargain hunting after sharp declines in New York. However, worries on the global economy will keep on weighing on sentiment, said analysts. On the NYMEX, the U.S. benchmark for January delivery was 18 cents higher at a crude price per barrel of $86.44 during the morning trading. Brent for delivery in January also gained 21 cents to its...
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