Last Updated: Friday, September 11, 2015, 23:28
Crude futures fell on Friday after Wall Street`s most influential voice in oil trading, Goldman Sachs, slashed its price outlook through next year, citing oversupply and concerns about China`s economy.
Last Updated: Friday, September 11, 2015, 17:31
Goldman cut its 2015 Brent price forecast to $53.70 a barrel from $58.20, and said it saw 2016 Brent prices at $49.50, down from its earlier $62 forecast.
Last Updated: Friday, September 11, 2015, 08:49
The front-month October contract for Brent, the global oil benchmark, shed 5 cents to USD 48.84 a barrel after it settled up USD 1.31, or 2.8 percent, on Thursday at USD 48.89 a barrel.
Last Updated: Thursday, September 10, 2015, 17:43
China plans to launch a yuan- denominated international benchmark for crude oil futures this year aimed at the Asian market, an industry source said Thursday.
Last Updated: Tuesday, August 25, 2015, 23:18
As merchandise shipments continue to fall since last December, a top official in Commerce Ministry today attributed the declines to sharp fall in fuel prices overseas, which led to a dip in petroleum product exports.
Last Updated: Tuesday, August 18, 2015, 17:04
US oil prices fell towards six-year lows on Tuesday after stock markets tumbled in China, the world`s largest energy consumer, adding to worries about global fuel demand at a time of heavy oversupply.
Last Updated: Tuesday, August 4, 2015, 21:24
Oil recovered to just above $50 a barrel on Tuesday after touching a six-month low in the previous session, although high global production and concern over the economic outlook in China weighed on the outlook.
Last Updated: Monday, June 8, 2015, 20:10
Oil prices fell on Monday on news of a slide in China`s fuel imports and as markets digested OPEC`s decision to maintain its production target, which analysts said could prolong a supply glut for the rest of the year.
Last Updated: Wednesday, May 20, 2015, 08:48
US crude futures rose on Wednesday after a more than three percent slide in the previous session, supported by a larger than expected drop in crude inventories, although a firmer dollar capped gains.
Last Updated: Monday, May 18, 2015, 19:16
Oil prices rose on Monday as fresh tensions in Yemen and Iraq raised concerns about a supply disruption in the crude-rich Middle East, analysts said.
Last Updated: Monday, May 18, 2015, 18:34
Goldman Sachs has cut its long-term crude oil price forecasts and recommended investors sell shares in two major oil companies, saying that improved U.S. shale efficiency and higher production from OPEC will more than cover future demand.
Last Updated: Wednesday, May 13, 2015, 08:44
Oil rose 3 percent on Tuesday, the most in three weeks, as a weak dollar lifted commodities denominated in the currency and OPEC raised slightly its forecast for world oil demand growth.
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