Crude oil was little changed in New York after rising to a one-month high yesterday
Published:
22 September 2004 y., Wednesday
Crude oil was little changed in New York after rising to a one-month high yesterday on concern Russian exports will be disrupted after utilities cut some power supplies to OAO Yukos Oil Co., the country's top producer.
Electricity sales were reduced to Yukos because of past-due bills, regional generator OAO Tyumenenergo said yesterday on its Web site, a day after Yukos said it may have to halt some exports to China. U.S. oil supplies probably fell for an eighth straight week, according to analysts surveyed by Bloomberg. That would be the longest drop since 1988.
Crude oil for November delivery traded at $46.80 in electronic after-hours trading on the New York Mercantile Exchange at 9:04 a.m. Sydney time. It rose 57 cents, or 1.2 percent, to $46.76 yesterday.
Yesterday, oil for October delivery rose 75 cents, or 1.6 percent, to $47.10 a barrel, the highest close since Aug. 20. The October contract expired yesterday. Prices reached a record $49.40 a barrel during intraday trading on the same date. Futures have gained 10 percent in seven sessions.
The November contract may find so-called resistance in electronic trading at $47.93 a barrel, according to a two-month Fibonacci graph, a trading tool used by chartists.
Šaltinis:
Bloomberg
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Parliament's proposal for its own operational budget for 2011 includes the financing of measures in preparation for enlargement with Croatia.
more »
Links between business and the academic world need to be strengthened but higher education institutions must retain their autonomy and public support, says a resolution adopted on Thursday by the European Parliament.
more »
The Spanish Minister of Economy and Finance, Elena Salgado, will present the additional fiscal tightening measures set out by the Spanish Government to her eurozone (Eurogroup) counterparts on Monday; the measures were required by Spain’s European partners as a condition of approving the plan to bolster the euro on 9 May.
more »
The European Commission has opened an in-depth investigation under EU State aid rules into capital injections destined to two subsidiaries of state owned company Elan Skupina in Slovenia.
more »
GDP growth in the EU expected to gradually pick up, though recovery less robust than past upturns.
more »
The EESC tabled its opinion on the regulation of alternative investment funds, such as hedge funds and private funds. Although endorsing the much debated proposal of the European Commission, the EESC calls for uniform risk data provision for all such funds and emphasizes their responsibility in triggering the crisis.
more »
Concluding the process and deciding on the schedule for releasing the funds agreed on for Greece, as well as examining and learning lessons from the crisis for the governance of the eurozone, will be the focus of the discussions of the heads of state and government at the meeting in Brussels this Friday.
more »
The EU pavilion at the world expo in Shanghai marks the first time the EU has presented itself to a large Chinese audience.
more »
Shanghai's World Expo offers visitors plenty of fun offering bizarre things to do at over 200 pavillions competing for attention.
more »
The European Investment Bank (EIB) is providing a loan of EUR 150 million to MVM Zrt. for the capacity increase and the extension of a high-voltage transmission network, partly constituting priority axes of the Trans-European Energy Network (TEN-E) in Hungary.
more »