Related News
Oil slips back below US$94 a barrel; pump price dips
Online Edition
The price of oil edged lower yesterday, a day after recording its biggest gain of the new year.
Benchmark US crude oil for February delivery slipped 21 cents to close at US$93.96 a barrel on the New York Mercantile Exchange. The contract surged US$1.58 to settle at US$94.17 in New York on Wednesday. That 1.7 percent increase was only the third gain for oil since Jan. 1, and by far the biggest.
Brent crude, used to set prices for international varieties of crude, fell 52 cents to US$105.75.
The market was buoyed Wednesday by a report from the US Energy Department that showed oil supplies fell by 7.7 million barrels last week, the seventh straight weekly decline. Analysts expected a more modest drop of 1.6 million barrels.
Yesterday OPEC said in a report that it expects global demand for oil to increase by around 1 million barrels a day, up from an increase of 900,000 barrels a day in 2013.
Supply is also on the rise, the organization said. It revised up slightly its estimates for oil supplies from non-OPEC countries for both 2013 and 2014.
In the US, drivers paid a little less for gas, as the nationwide average price for a gallon of gasoline fell 1 penny to US$3.30. That's still up 8 cents from a month ago.
In other energy futures trading in New York, natural gas rose 6 cents to US$4.38 per 1,000 cubic feet (28.32 cubic meters).
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
