Global oil prices fell on Wednesday as traders reassessed the impact of Hurricane Isaac on output in the rig-heavy US Gulf Coast, analysts said.
Oil steadied above $112 a barrel on Tuesday as tropical storm Isaac neared hurricane strength in the Gulf of Mexico, forcing companies to close down US oil rigs and refineries.
The price of oil rose to above $96 a barrel on Tuesday as weather forecasters said Tropical Storm Isaac, which was causing oil production cuts in the Gulf of Mexico, could soon gain intensity and turn into a hurricane.
MUMBAI - Gold prices in India hit a lifetime high on Thursday, in line with global trends, as stockists and investors bought up the metal, traders said.
LONDON - Oil dropped below $114 a barrel on Wednesday, with investors on edge over whether Europe would overcome its debt crisis, while Middle East tension kept the potential for supply disruption in focus.
SINGAPORE - Brent crude steadied near $115 a barrel on Wednesday, supported by hopes that European policymakers will act to resolve the region’s debt crisis and by Middle East tensions that kept supply disruption concerns intact.
NEW YORK - Oil prices rose on Tuesday as hopes that the European Central Bank will act to contain the region’s debt crisis boosted crude futures and sent the euro to a seven-week peak versus the dollar.
SINGAPORE - Brent crude inched up on Tuesday, b ut prices stayed below $114 a barrel as investors sought clarity on policies to help the euro zone after the European Central Bank quashed speculation about further steps to contain the debt crisis.
LONDON - Brent crude oil rose to around $114 per barrel on Monday, supported by tight North Sea supplies ahead of the closure of a key UK oilfield for maintenance and on expectations of more demand before the northern hemisphere winter.
LONDON — World oil prices fell on Friday on profit-taking following recent gains which saw New York and Brent crude hit three-month highs, analysts said.