Oil Trades Near One-Week Low on Stockpile Gain, Reserves


29/03/2012 07:00 AST

Oil traded near the lowest close in almost a week in New York after U.S. inventories surged and Western countries discussed tapping emergency reserves.

West Texas Intermediate futures were little changed after falling 1.8 percent yesterday as an Energy Department report showed crude supplies rose the most since July 2010. The U.S. proposed a release from strategic reserves, French Industry Minister Eric Besson said. A White House official said no decision has been made. There is “no rational reason” for prices at current levels and Saudi Arabia would like to see them fall, the nation’s Oil Minister Ali al-Naimi said.

For more on this Click Here

Bloomberg
Crude Oil News
2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | News Archive
Most Viewed Companies
Ticker Price Volume
SABIC 83.31 3,257,263
RIBL 10.95 241,365
QNBK 150.9 104,524
ALINMA 13.45 35,871,962
GFH 0.22
ALMARAI 54.11 127,906
EEC 28.63 965,076
Recent News

GWC posts 15pc increase in H1 net profit
GWC, a leading leading logistics provider in Qatar, has reported a steady net profit growth of 15 per cent in the first half of 2016.

The company achieved a net profit of QR101.3 million (

Oman returns to international bond markets
After an absence of almost 20 years, Oman tapped the international bond market in June to raise $2.5 bn in two separate tranches. The government has said the money raised will be used to address a fu

Oman’s inflation rises marginally in June
The Sultanate’s monthly CPI based inflation registered a 0.90 per cent increase in June 2016 compared to May this year, while year-on-year inflation rose by 1.53 per cent in the same month, according

Islamic financing increases to OMR2.1 billion by end of May
Islamic banking entities provided financing to the extent of OMR2.1 billion as at the end of May 2016, compared to OMR1.3 billion a year ago, according to the monthly bulletin issued by the Central B

Technical analysis of the QSE index
The QSE Index rose for the second consecutive week and gained around 1% vs the previous week. The index breached its important resistance of 10,500 and managed to close above it. However, it is imper

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Looking ahead, what change you are more likely to make in investing in your domestic stock market?