July 2012
31st July 2012
Stimulus Hopes Fade = Oil Prices Drop
Oil prices fell Tuesday July 31, 2012 as hopes faded for a new round of government stimulus in the U.S.
Benchmark U.S. crude lost $1.93, or 2.2 percent, to $87.85 per barrel in New York, while Brent crude lost $1.58 to $104.62 per barrel in London.
Traders have been guessing for months about when and whether the Federal Reserve would try to spark the economy. Hopes rose last week, then faded Tuesday, following reports of strengthening consumer confidence and home values. Read more »
7th July 2012
Oil Prices Mixed On > Norway Lockout + Rate Cuts
Oil prices traded mixed Thursday July 5, 2012 after China and the European Central Bank cut interest rates and Norway announced a lockout of unionized oil workers in a pensions dispute.
New York's main contract, light sweet crude for August, finished at $87.22 a barrel, down 44 cents from Tuesday's closing level. The market was closed Wednesday for a public holiday.
In London trade, Brent North Sea crude for delivery in August added 93 cents to settle at $100.70 a barrel. Read more »
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