Oil futures rose towards $98 per barrel on Friday, following gains in the euro and stock markets, after a report that major central banks would step in to stem any possible financial storm after Greek elections this weekend. ›
Brent crude reversed early losses and climbed towards $104 per barrel on Thursday, but a bleak demand outlook as the euro zone debt crisis grinds on kept gains in check and set prices up for their biggest monthly percentage drop in two years. ›
The U.K.’s energy policies may fail to deliver nuclear power and renewables needed for the nation to meet its goals for reducing greenhouse gases, the International Energy Agency said. ›
Brent crude futures held steady at $106 a barrel on Friday, but was on track for a fourth weekly loss and the longest losing streak since early 2010, as investors were jittery over signs of slowing global economic growth blunting oil demand. ›
Oil headed for a third weekly drop in New York after Germany’s finance minister said Europe’s crisis may last another two years and reports added to evidence of a slowdown in China. Brent fell to its lowest this year in London. ›
Brent crude oil slipped over a dollar towards $111 on Wednesday, extending its longest losing streak in nearly two years, as political turmoil in the debt-laden euro zone deepened worries about prospects for fuel demand. ›
British prompt gas prices rose on Friday as imports from Norway and the Netherlands dropped and planned maintenance was due to cut offshore supplies at the weekend. ›
Oil fell from the highest level in almost four weeks in New York, trimming a second weekly gain, after a cut in Spain’s credit rating renewed concern that Europe’s economy may falter and curb fuel demand. ›
Oil traded near the highest level in a week after Federal Reserve policy makers said they expect growth to accelerate, boosting speculation fuel demand will rise. Iran said it may halt its nuclear expansion. ›
British prompt gas prices traded higher on Friday, supported by the month-ahead contract which rose on the back of colder weather forecasts, while rebounding oil prices lifted the benchmark front-season price off a two-month low. ›
