Brent Crude

Mainland cuts petrol and diesel prices on cheaper crude

After price increases in August and September, mainland motorists will now pay 3.1 per cent less for their petrol. Photo: Xinhua

Beijing yesterday cut petrol and diesel prices for the first time since July, threatening to reduce processing margins for refiners in the world's second-biggest oil-consuming nation.

Saturday, 17 November, 2012, 4:13am

Brent slips below $115 as U.S. eyes potential oil release

Oil  workers are seen fixing pipes at sunset in the desert oil fields of Sakhir, Bahrain, on Monday July 23, 2012.  AP Photo/Hasan Jamali

 SINGAPORE, Aug 17 (Reuters) - Brent crude slipped below $115 on Friday as supply worries eased on a possible release of oil reserves by the United States while Israeli comments on Iran reduced fears of a potential conflict in the Middle East that could disrupt exports.

17 Aug 2012 - 12:11pm

Sinopec warns of fuel shortages if prices don't rise

China Petroleum & Chemical Corp (Sinopec), the world's third-largest oil refiner, has warned of fuel shortages if Beijing does not raise fuel prices to stem refining losses.

27 Apr 2011 - 12:00am

Oil rises on likely drop in US inventories

Crude rose in New York, snapping a three-day decline, on speculation that United States petrol inventories fell last week as the peak demand season approaches.

21 Mar 2007 - 12:00am

Iraqi demand lifts oil futures

International Petroleum Exchange Brent crude futures gained 10 US cents after the Iraqi Government demanded that the United Nations lift sanctions before a 'new crisis' developed. Front month Brent traded up 33 cents at $14.54 a barrel, while gas oil stood $2.75 higher at $136.75 a tonne. The Iraqi statement was issued after a meeting headed by President Saddam Hussein.

17 Apr 1998 - 12:00am


CRUDE Oil prices lost most early gains on Wednesday as US heating oil futures fell heavily after the release of US inventory data.

Benchmark North Sea Brent blend crude for October delivery ended up 3 cents at US$18.31 a barrel on London's IPE.

12 Sep 1997 - 12:00am

Oil slips in commodities sell-off

Funds began liquidating positions in crude oil and other commodities yesterday.

June Brent crude futures on the International Petroleum Exchange (IPE) slid to a low of US$18.65 per barrel before settling 22 cents down at $18.80 near the close.

2 May 1996 - 12:00am

Oil leaps as Iraqi talks in trouble

Oil burst higher than US$20 per barrel yesterday as heavy buying took place on the back of renewed confidence that sanctions on Iraqi oil sales were not about to be lifted.

Nymex crude opened in New York $0.92 higher at $22.45 per barrel and threatened to test the high on the June contract of $22.98. It stood at $22.25 at midday in New York.

24 Apr 1996 - 12:00am

Oil hits 42-month highs

Oil prices in London hit a 31/2-year high last night, as anxiety that oil product inventory levels were dangerously low flooded the market.

In trading on the New York Metal Exchange, May crude, after dipping about 28 cents at the open, hit US$23.37 per barrel. It was trading at $23.20 at midday.

10 Apr 1996 - 12:00am