InfoAnda - Oil prices slump to more than four-year lows under 38 dollars

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Obama calls for action to lift gay ban in US military | 4 November 2010
Thai inflation rises for first time in 2009: govt | 2 November 2009
Pakistan cricketers charged with corruption | 4 February 2011

Beatles fans to get videogame September 9 | Technology | | 6 March 2009

">Forum Views () ">Forum Replies ()

Read more with google mobile : Oil prices slump to more than four-year lows under 38 dollars

Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Oil prices slump to more than four-year lows under 38 dollars AFP - Friday, December 19 LONDON (AFP) - - Oil prices tumbled Thursday to the lowest points for more than four years, diving under 38 dollars per barrel in New York, as traders suggested that OPEC would not fully enforce a record output cut. On the New York Mercantile Exchange (NYMEX), light sweet crude for delivery in January dived to 37.68 dollar a barrel ahead of the contract's expiry on Friday. The low point was last seen in July 2004. On London's InterContinental Exchange (ICE), Brent North Sea crude for February sank as low as 44.30. In later deals, New York crude stood at 38.55, down 1.51 dollars from the close on Wednesday. Brent oil was 53 cents down at 45 dollars per barrel. The Organisation of the Petroleum Exporting Countries (OPEC), which produces about 40 percent of the world's crude, approved a record output cut on Wednesday of 2.2 million barrels a day. However, the decision failed to prevent prices plunging even further, as rising US energy reserves also heightened global demand worries amid a sharp worldwide economic slowdown. "The verdict (of falling prices) was a resounding vote of no-confidence in the cartel's ability to curtail production given its previous tendencies to backslide on commitments, particularly by countries who are financially strapped," said MF Global oil analyst Ed Meir. Despite the output reduction on Wednesday, New York crude dropped a hefty 3.54 dollars and London Brent oil shed 1.12 dollars. "OPEC cut more then two million barrels of oil from its production yesterday," added BetOnMarkets analyst David Evans. "However, prices tumbled as most traders questioned if organization could actually enforce the production cut," he said. "Not helping oil prices is the fact that US inventories climbed again," he added. The US Department of Energy reported on Wednesday that American crude oil stockpiles climbed by 500,000 barrels in the week ending December 12, which was five times market expectations and indicated weaker US energy demand. Ministers of the 13-member cartel, meeting in Oran, Algeria, agreed to the reduction in a bid to shore up prices, which have slumped from record highs above 147 dollars in July due to falling demand in a slowing global economy. It was the third time in three months that OPEC has lowered production, and the largest reduction since the cartel introduced production quotas in 1982. Before the latest cuts, OPEC's official daily output target was 27.3 million barrels a day. Prices also slid despite the dollar's recent sharp fall against other major currencies, days after the Federal Reserve slashed its base lending rate to virtually zero. A weak dollar normally lifts the price of dollar-priced oil for buyers using cheaper currencies. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Oil Price Hike Oil prices slump to more than four-year lows under 38 dollarsAFP - Friday, December 19 GLOBAL MARKETS-Oil and bond yields fall, US dollar reboundsReuters - Friday, December 19 New York oil price falls below $38 a barrelAFP - Friday, December 19 Kazakh KazMunaiGas may cut 2009 oil outputReuters - Friday, December 19 Enlarge Photo Car lights are seen streaking past an oil rig extracting petroleum in the Los Angeles area community of Culver City, California. Oil prices tumbled Thursday to the lowest points for more than four years, diving under 38 dollars per barrel in New York, as traders suggested that OPEC would not fully enforce a record output cut. Related Full Coverage oil price hike oil price hike All Full Coverage Most Popular – Top Stories Viewed Actress Jennifer Aniston appears naked in GQ magazine 'Dark energy' expands, contracts universe: researchers US doctors hail near-total face transplant Dollar dives to 13-year low against yen after Fed cut Chrysler halts manufacturing as clock ticks on gov't bailout View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

Other News on Friday, 19 December 2008
Up to 25 Iraqis accused in Saddam party plot
Scuffles in SKorea parliament over bid to pass US trade pact
NKorea accuses South of trying to 'harm' leader
S’porean woman in custody in Philippines for links to alleged baby trafficking
Taiwan's ruling party to meet Chinese Communists
Taiwan UMC has cut several hundred jobs since July
Japan, Australia agree on security cooperation
Police and Zouk dance club join forces in crime prevention campaign
Iraqi officer arrests related to 'terror': general
NKorea suggests South plotted assassination bid
Iraqi who threw shoes at Bush asks for pardon
`Monday Night Football' tops TV cable ratings
Afghan leader sends demands to US on troop conduct
Gomez, Hilton among MySpace friends' leaders
`Doubt' tops SAG pack with 5 nominations
NKorea says man held for SKorean plot against Kim
Hot favourite Lee secures badminton semis berth in style
Taiwan court sticks to ruling on release of ex-leader
30 year reforms transform China, but not politics
RPT-GLOBAL MARKETS-Dollar hits 2-1/2-mth euro low; oil below $40
Russia considers night curfew for under 14s
McCready is stable after reported suicide attempt
Field of evergreens: Americans go back to roots of Christmas
Wife of Barker's assistant sues over crash
Nominees for annual Screen Actors Guild Awards
Pet lovers protest cats on the menu in China
Australia mulling court action against Japanese whaling: minister
China dispatching ships to battle Somali pirates
Chiklis is creating a drama about investor fraud
Majel Roddenberry, 'First Lady of Star Trek,' dies
Iraqis celebrate reopening of book market
Wallace & Gromit pirated on YouTube
Report raps ex-White House pair on Iraq claims
First lady has videoconference with women in Kabul
Parmalat founder gets 10 years over 'Europe's Enron'
Accenture reports strong quarterly results
Hamas declares end to ceasefire with Israel in Gaza | International |
NATO, Russia to resume high-level talks Friday
RIM net profit, revenue up in third quarter
U.N. divided over gay rights declaration | International |
'Orderly' bankruptcy mulled for US carmakers
Roman battlefield unearthed deep inside Germany
Hamas says Gaza truce is ending
Wireless carriers boost networks for Obama inauguration
Protesters battle Greek police, flights grounded | International |
Swiss engineer completes first world tour in solar-powered car
Ageing L'Oreal heiress defends billion-dollar giveaway
Hamas says won't extend truce with Israel
US firms join forces to build lithium ion batteries for cars
Oil prices slump to more than four-year lows under 38 dollars
China court orders compensation in Internet harassment case
Iraqi official: Leader of women's group killed
Britain confirms Iraq troop pullout, rebuffs Afghan link
New York oil price falls below $38 a barrel
Europe keeps US poultry off the Xmas menu over chlorine use
US rejects Castro dissident-prisoner exchange offer
Georgia inquiry criticizes military, but not war | International |
10,000 urge Pakistan to cut US-NATO supply line
Castro offers to exchange dissidents for 'Cuban 5'
8,000 sugar workers laid off in Jamaica | International |
New ban imposed on regulating global warming gases
India calls off high-profile Pakistan cricket tour
Rescuers fail to reach 18 trapped miners in China | International |
Gates orders plan drafted for closing Guantanamo prison
Straits Asia says no adverse impact from Indonesia law
Tribunal hopes to try Mladic and Karadzic together | International |
Top US envoy for Africa: Zimbabwe has collapsed
Seoul shares edge up; chipmakers, KB Financial up
Singapore's Olam repurchases $76.44 mln in bonds
U.N. assembly again votes against defaming religion | International |
Iraqi journalist sorry for shoe-throwing: Maliki's office
New Zealand govt renews central bank policy pact
Australia's PM visits troops in Afghanistan
U.S. government lab, 14 firms team up on lithium battery | Technology |
US general drafts troop withdrawal plan for Iraq
China's Chint accuses French rival of seeking to block its expansion
NKorea suggests South plotted Kim assassination
Government website rates nursing homes | Technology |
Thai auto production likely to fall 20 percent next year: industry
Kim Jong-Il alive and in control: US Pacific commander
Portable devices give cloud computing new clout | Technology |
Rate cut on cards as Bank of Japan meets
Oil prices slump to more than four-year lows under 38 dollars
Philippines central bank cuts key lending rates by 50 basis points
GLOBAL MARKETS-Oil and bond yields fall, US dollar rebounds
New York oil price falls below $38 a barrel
First U.S. patient gets face transplant | Technology |
Montenegro bans Facebook access in government offices | Technology |
Doubt tops SAG film nominees amid strike talk | Entertainment |
Hollywood gears up for more tough times in 2009 | Entertainment |
U2 to release new album in March | Entertainment |
France hopes for more film action with new tax break
Actor exits Broadway show citing mercury from sushi | Entertainment |
Redford, Crowe join stars against actors strike
Tina Fey caps stellar year with SAG nominations | Entertainment |
'Doubt' emerges as actors awards front-runner
Sci-fi icon Majel Barrett Roddenberry dies at 76 | Entertainment |
Some Britons greet slowdown with a custard pie | Entertainment |
Just a Minute With: Mickey Rourke on film comeback | Entertainment |
Ed McMahon, wife have no plans to move from home
NBC News' Todd, Guthrie to cover White House
SAG Awards nominations come as strike vote looms
Paul Simon named to Berklee College of Music board
Juror replaced in Brancato trial
France hopes for more film action with new tax break
Redford, Crowe join stars against actors strike
'Doubt' emerges as actors awards front-runner
Malaysia PM defends his judicial reforms
Louvre discovers possible da Vinci sketches on back of oil
NKorea accuses South of trying to kill Kim Jong Il
Philippines rice subsidy programme punishes the poor: study
Book 'em: Two Madoff books in the works
Kim Jong-Il alive and in control: US Pacific commander
Shanghai man jailed for abandoning mother
Curtains closing on Bangladesh's cinemas
World Bank head sees worldwide problem in 2009
RPT-GLOBAL MARKETS-Dollar, oil drop on weak outlook; stocks slip
South Korea denies involvement in alleged Kim plot
U2 stock buyback puts cloud over music mega-deals
S&P raises Pakistan's rating to CCC-plus from CCC
Ceasefire in Gaza over, violence set to rise | International |
Rwanda's Bagosora sentenced to life for genocide | International |
Russia to halt weapons if U.S. drops shield: report | International |
France plunging into recession: official forecast
India make slow start in second England Test
Brancato jury reports deadlock, resuming Friday
Oracle net profit dips slightly
Last South Korean troops sent to Iraq return home | International |
Parmalat founder gets 10 years over 'Europe's Enron'
Global economy seen sinking into 'severe' 2009 recession: report
Obama inauguration's 'last call' moved up in DC bars
New Hampshire issues first death sentence in 49 years
Philippines appeals for help in probing pig virus
Chinese manufacturing giant outgrows its cradle
Taiwan tycoon gives record donation to build cancer hospital
US military deaths in Afghanistan region at 558
Singapore says 10,000 homes bought via deferred payment
China pledges 'strong backup' for Hong Kong in global crisis
Joint operation between CNB and M’sia counterpart leads to 17 arrests
Thai PM: PAD protesters must face rule of law
Panasonic says clears way to acquire Sanyo for up to 9 bln dlrs
Internet witch hunt instigator ordered to pay
Texas Instruments to lay off 400 workers in Philippines
Global LCD TV revenue seen sinking 16 percent in 2009 | Technology |
Oil price just above 36 dollars, lowest in four years
BOK to inject $4 bln at min rate of 0.7068 pct
US military deaths in Iraq war at 4,209
Panasonic aims tender offer bid to acquire Sanyo
S.Korean won edges up; rises 6.4 pct for the week
Seoul shares rise led by chips, telecom shares
New U2 album on horizon: record label
China Eastern's parent wants more government aid: report
Japan launches first solar cargo ship
Japan central bank cuts key rate to 0.1 percent
Oil price just above 36 dollars, lowest in four years
Doubt tops SAG film nominees amid strike talk | Entertainment |
Australia director defends movie against critics | Entertainment |
Will Smith and Jim Carrey in box office showdown | Entertainment |
Standard Chartered says Temasek retains 18.8 pct stake
97% of eligible S’poreans signed up for Growth Dividends, GST credits
SKorea brings last remaining troops home from Iraq
Pet lovers protest cats on the menu in China
Man faces life for rape of daughter, posting on Internet
Amnesty International slams Indian anti-terror law
Joe Nieh announces marriage registration with Vivian Chow
319 assassination staging on the silver screen
Report: NKorea ridicules Bush over shoe attack
Lin Chi-ling's voice dubbed over for "Red Cliff II"
Sri Lanka steps up air attacks against Tiger rebels
India regulator to decide Nifty futures trade time
Russia to halt weapons if U.S. drops shield: report | International |
Pakistan's Zardari postpones Kabul trip
German hostages in Yemen freed: tribal source
U.N. divided over gay rights declaration | International |
Israel opposition leader dismisses Syria talks
Deep Throat, Watergate's secret informant, dies at 95
Tsvangirai threatens to suspend Zimbabwe talks | International |
Obama takes a break after cabinet plaudits
Sri Lankan air force bombs rebels
Rescuers fail to reach 18 trapped miners in China | International |
Russia to abandon missile plans 'if US drops shield'
Philippine president outraged by blasts
Japanese group asks Google to stop map service | Technology |
Obama to round out cabinet 'with labour, trade picks'
Gamba Osaka coach rues missed opportunities
U.S. government lab, 14 firms team up on lithium battery | Technology |
German hostages in Yemen freed: tribal source
Panasonic to buy Sanyo in $9 billion deal
Prof S Jayakumar, Tommy Koh document Pedra Branca case in a book
U.S. not ready for cyber attack | Technology |
Pakistani stocks end 18 percent lower for week
4 Islamic rebels killed in Indian Kashmir
Japanese consumers enjoy benefits of strong yen
Singapore supports UN resolution on Somalia piracy situation
S&P raises Pakistan's rating to CCC-plus from CCC
Singapore's F&N cancels sale of publishing unit
China says $41 billion to be spent on 3G | Technology |
Japanese enjoy benefits of strong yen
Singapore freezes assets of Bangladesh’s ex—PM Zia’s son
Japan cuts rates to near-zero amid dire world economic outlook
New York oil price slumps to new 4.5-year low at $35.62
New Thai leader surveys damage at PM's office
Gas-rich Turkmenistan, Bulgaria sign energy pact
Benjamin Button took decades to reach big screen | Entertainment |
Thai Airways cuts fuel surcharges by 40 percent
Metallica on fire at L.A. show | Entertainment |
Global economy to contract in 'severe' 2009 recession: banking group
Golden Globe contenders a complicated bunch | Entertainment |
Taiwan dlr off 2-mth high on US dlr strength
Critics weigh in on year's best films | Entertainment |
Pro wrestler 'Mad Dog' Bell found dead
British political giants join forces on record
Zhang Ziyi most beautiful person in China
Dai Yang Tian's childhood unveiled!
Tom Cruise's son makes debut in Will Smith movie
New album from U2 is on the horizon
Yale poet prepares for inauguration
Japan shares down on strong yen, ignore rate cut
Texas Instruments to cut 400 jobs in Philippines
China shares edge up on fuel tax cut
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01