Offshore logo
North Sea crude prices move higher
Posted 01.09.2009 09:01:35 av Patrick Mcloughlin
Vis RSS feed
Send nyhet til en venn

North Sea oil prices gained in Asian trade on Tuesday, attempting to shake off the overnight selloff was driven by a strong fall in Chinese stock markets that made people question the global economic recovery. Latest oil prices were boosted by a rebound in those Chinese shares.

Benchmark Brent crude for October delivery rose 4 cents to $69.69 a barrel around midday in Singapore on ICE Futures exchange trading.

Meanwhile, WTI for October improved 7 cents to $70.03 a barrel, after dipping 3.8% on Monday, in Singapore on NYMEX electronic trade.

Traders said Chinese shares recovered on Tuesday from their Monday selloff after the release of manufacturing sector data that pointed to China's economic revival being on track after all.

Traders added that the announcment of a key indicator of US manufacturing activity in August and weekly crude inventory statistics later in the day, are both seen indicating that the gradual rebound in the US economy and oil consumption, remains in place.

"The US ISM data is quite important and will set the tone. If the data comes out worse than expected, we could see the market fall further toward $65," Ben Westmore, commodities analyst with the National Australia Bank told British news agency Reuters.

On the other hand, if the market comes in better, then that should have a positive impact on prices.

Adding to the picture, weekly oil inventory data from the American Petroleum Institute will also contribute to the trading picture.

Advertisement
Latest news

Asset integrity expertise bought

British-based engineering expertise has been bought up by Norway's Aker Solutions to boost its integrity analysis for oil and gas assets.

[Les mer ] Company news

Sound signals big Italian gas

London-listed Sound Oil has logged a big new gas find in Italy.

[Les mer ] Exploration

Aker anchors new accommodation unit

A new offshore accommodation unit under construction in China is to be fitted with a mooring system supplied from Norway.

[Les mer ] Contracts

Big gas at Bianchi 1

Austria's OMV has reported a major new gas find while drilling offshore Australia following on from its earlier Zola discovery.

[Les mer ] Exploration

New drilling near Johan Castberg

Swedish explorer Lundin Petroleum has kicked off a new exploration well in the Norwegian sector of the Barents Sea.

[Les mer ] Exploration

Irish data acquisition underway

Seismic data acquisition has kicked off on a newly allocated Irish Frontier Exploration Licence.

[Les mer ] Exploration

Profilerte stillingerAlle stillinger »
Profilerte selskapFra OffshoreX.no
AIR LIQUIDE OFFSHORE AS Logo

AIR LIQUIDE OFFSHORE AS

Air Liquide er verdens største Industri gass selskap. Vi har mer enn 40000 ansatte world wide og er tilstede i alle store offshore hubs i verden.

Se profil | offshorex.no
Victor A/S Logo

Victor A/S

Victor A/S leverer services og løsninger til markederne energi, offshore og marine. Vi producerer og leverer EPCM løsninger i komplekse rørsystemer i alle metaller, plastik og fiberglas, tryksatte/ikke-tryksatte tanke, konstruktion af procesmoduler og konstruktion af køleløsninger til ethvert formål.

Se profil | offshorex.no
Olympus Norge AS Logo

Olympus Norge AS

Olympus Industri tilbyr kundene omfattende fjernbetjent visuel inspeksjon, høyhastighedsvideo og ultralyds- og hvirvelstrøms-non-destruktive testløsninger.

Se profil | offshorex.no
ACHILLES AS Logo

ACHILLES AS

Achilles kjernekompetanse er å identifisere, kvalifisere, valuere og overvåke leverandører og underleverandører på vegne av våre oppdragsgivere verden over.

Se profil | offshorex.no
MTC & Partnere AS Logo

MTC & Partnere AS

MTC & Partnere A/S beskæftiger sig mandskabs udlejning indenfor overflatebehandling, isolasjon og vedlikehold. MTC & P har gennem mere end 10 år beskæftiget sig både on og offshore med overfladetehandling og isolasjon og har derfor en stor medarbejder stab der besidder mange års erfaring og udd. inden for disse områder. For MTC & P er værdi grundlaget Kvalitet/Sikkerhet/Tillid/Fleksibillitet..

Se profil | offshorex.no
Exploration Options AS Logo

Exploration Options AS

Exploration Options provides consultancy and staff recruitment services to the upstream oil and gas industry. We source and deliver Professionals of the highest calibre, in Management, Advisory & Technical areas. Our Focus areas are: Exploration & Subsurface Evaluation, Portfolio Management and Resource Assessment.

Se profil | offshorex.no
Tips oss
Kontakt oss
Offshore.no AS
Annonsere
Ansvarlige
Sjefsredaktør: Erlend Keilen
OPPHAVSRETT
Alt innhold er opphavsrettslig beskyttet.
Copyright Offshore.no AS