Crude Oil Falls to $66 in New York, 10% Below This Year’s High (Bloomberg)
July 3 (Bloomberg) — Crude oil futures in New York fell below $66 a barrel, a 10 percent decline from this year’s high, marking a market “correction.”
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Rogue trader causes oil price spike (Channel 4)
A rogue trader has caused a spike in the price of oil and cost his firm £6 million after a series of unauthorised trades. PVM Oil Futures said a senior broker based at the firm’s London office had taken the unauthorised positions in Brent crude futures.
Crude oil, retail gasoline prices decline (The Villages Daily Sun)
THE VILLAGES — Consumer pocketbooks grew a little fatter Thursday at the gasoline pumps. Crude oil prices plummeted on the New York Mercantile Exchange, fueling speculation that gasoline prices might fall even further than in recent days.
OPEC president satisfied with current oil price (The Globe and Mail)
BEIJING — OPEC is satisfied with the current crude oil price, the president of the Organization of Petroleum Exporting Countries, Angolan oil minister Jose Botelho de Vasconcelos told reporters on Friday.
OPEC Says ‘Satisfied’ With Current Crude Oil Price (Update1) (Bloomberg)
July 3 (Bloomberg) — OPEC is “satisfied” with the current oil price, OPEC President Jose Maria Botelho de Vasconcelos said today in Beijing. The current price is “good for all of us, the consumers and the producers,” de Vasconcelos said.
Rogue trader blamed for Tuesday’s crude oil spike (National Post)
A rogue trader has left a London-based oil brokerage with losses of almost US$10-million following a series of unauthorised trades two days ago believed to have caused a spike in global crude prices.
Saudi Arabia May Cut Heavy-Oil Price as Processing Profits Drop (Bloomberg)
July 3 (Bloomberg) — Saudi Arabia may lower the official price of its heavy oil grade sold to Asia from a six-year high as processing profit for fuel used by ships and power plants declined in the previous month, refinery officials said.
Rogue trader blamed for Tuesday’s crude oil spike (National Post)
A rogue trader has left a London-based oil brokerage with losses of almost US$10-million following a series of unauthorised trades two days ago believed to have caused a spike in global crude prices.
Oil price to get support from money supply rise (Gulf Times)
Global energy markets will need to rely squarely on crude oil for any price support over the coming months, Bank of America-Merrill Lynch said in a report.
Crude oil prices fall Thursday (UPI)
NEW YORK, July 2 (UPI) — Crude oil prices fell sharply to under $67 per barrel on the New York Mercantile Exchange Thursday as increased unemployment rattled hope for a quick recovery.