Posts Tagged: oil

Crude oil prices fall 1% on fears for global economy

Crude oil prices fall 1% on fears for global economy Brent oil ticked higher today, supported by tensions over Iran and the decision by OPEC and its allies to extend a supply cut deal until next year, while US benchmark crude prices fell on weak economic indicators. Brent was up 53 cents at $63.83 per… Read more »

Oil jumps 3% towards $64 as US drone downed in Gulf

Oil jumps 3% towards $64 as US drone downed in Gulf Oil rose more than 3% towards $64 a barrel today after Iran shot down a US military drone, raising fears of a military confrontation between Tehran and Washington. Expectations that the US Federal Reserve could cut interest rates at its next meeting, stimulating growth… Read more »

Oil prices set for 2019’s biggest weekly loss

Oil prices set for 2019’s biggest weekly loss Oil rose towards $69 a barrel today after two sessions of losses, but remained on track for its biggest weekly drop this year due to rising inventories and concerns about an economic slowdown. US crude inventories rose to hit the highest since July 2017, suggesting ample supplies… Read more »

Oil consumption here continues to increase with diesel volumes up 42% last year

Oil consumption here continues to increase with diesel volumes up 42% last year The organisation representing the petroleum industry here has pledged to play its part in Ireland’s transition to a low carbon and environmentally sustainable economy. But the Irish Petroleum Industry Association (IPIA) says moving to such an economy requires a clear understanding of… Read more »

Oil prices fall despite tighter global supply

Oil prices fall despite tighter global supply Oil prices fell yesterday, dragged down by concerns about global economic growth as the US-China trade dispute rumbled on, but receiving some support from tightened supply. International Brent crude oil futures were at $67.35 a barrel at lunchtime in London, down 26 cents, or 0.38pc. US West Texas… Read more »