BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry



« News Home
:: Monthly Archive

News Topics
:: Air Pollution
:: Agreements & M&A's
:: Alternative Fuels
:: BunkerBlog
:: Cargoes & Storage
:: Company News
:: Efficiency, Costs & Charges
:: Environment
:: Events
:: Financial
:: Fuel Quality & Testing
:: Lubes & Additives
:: Oil Spills
:: People
:: Port News
:: Projects
:: Regulation, Legal
:: Services, Products,Technology
:: Statistics & Research
:: Vessels

Regional Archive
:: Americas
:: Asia/Oceania
:: Europe
:: M.East/Africa


BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
Home » News





Crude stays over $115 after hitting record

18 Apr 2008 08:05 GMT

Crude oil remains at $115 as investors continue to hedge against the weakening dollar.



Oil prices remained near record levels Friday after a drop in U.S inventories and the weaker dollar had pushed prices above $115 a barrel.

Light sweet crude for May delivery on the New York Mercantile Exchange (NYMEX) settled at $114.86 yesterday after rallying to an all-time peak of $115.54. London Brent settled 23 cents lower at $112.43, off the record $113.38 set earlier.

Investors continued to purchase oil contracts as a hedge against the weakening dollar , betting that the rise in commodity prices would offset the decline in the dollar.

Price levels were also supported by the weekly Energy Information Administration (EIA) inventory report, which showed that gasoline stocks had fallen by 5.5 million barrels as the U.S heads into its peak summer driving season. Stocks of crude oil dropped by 7.3 million barrels during the same period.

11-Apr +/- 04-Apr
Crude 1,659,173 -7,364 1,666,537
Gasoline 215,751 -5,517 221,268
Kerosene 39,701 1,191 38,510
Distillate Fuel Oil 106,079 52 106,027
Residual Fuel Oil 38,339 -919 39,258


Crude oil was little changed Friday with WTI crude trading at $115.13 at 07:37 GMT, up 27 cents on the previous day's settlement price. Brent crude was also trading slightly higher at $112.76, 34 cents higher than yesterday's closing price.







Related Links:

Crude climbs to record high of $112.48 a barrel
Crude hits record high as US inventories fall
Crude goes higher after falling over US$1

Latest News:

Second large LNG-powered bulker launched for ESL Shipping
MHI targets development of gas-fuelled ships
Wartsila in maintenance deal for eight LNGCs running on dual-fuel engines
Kandla invites bids to provide shore power to ships: source
Brent dropped as traders apparently went for profit-taking
Oil and fuel oil hedging market update
Peninsula Petroleum to launch bunker supply operation in LA/Long Beach
Europe's first LNG bunkering pontoon enters construction phase
Clean Marine secures EGCS contract for seven chemical tankers
EIA inventory stats showing same tendency as API, but with less magnitude
Oil and fuel oil hedging market update
NCL completes scrubber retrofits for two cruise ships




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Cape Town
Fujairah
Houston
Istanbul
Kaohsiung
Las Palmas
Maracaibo
New Orleans
Piraeus
Rio de Janeiro
Rotterdam
Santos
Singapore
Directory
Africa
Asia
Central America
Middle East
North America
North Europe
Oceania
South America
South Europe
Directory
Germany
Gibraltar
Greece
Hong Kong
Italy
Japan
Netherlands
Panama
Russia
Singapore
South Africa
South Korea
Spain
Turkey
United Arab Emirates
United Kingdom
United States
News
Latest News
Blogs
Archive
Americas
Asia
Europe
Middle East
News
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Environment
Events
Financial
Fuel Quality
Lubes & Additives
Oil Spills
People
Port News
Projects
Regulation/Legal
Services, Products, Technology
Statistics & Research
Vessels
Events
Upcoming Events