Offshore logo
North Sea oil slips in Asia
Posted 21.08.2009 08:55:10 av Patrick Mcloughlin
Vis RSS feed
Send nyhet til en venn

North Sea slipped on Friday in early Asian trade as doubts once more reasserted themselves in the minds of investors about the timing of a global economic recovery. That followed mixed economic data about the world's biggested energy consumer, the United States.

Benchmark Brent fell 56 cents to $72.77 a barrel at around noon in Singapore on the ICE Futures exchange.

Meanwhile WTI for October delivery nosed down 68 cents to $72.23 in Singapore on NYMEX electronic trade.

Traders said crude prices moved back a bit on Friday in Asia after the US Labour Department on Thursday said the number of first-time unemployment claims rose unexpectedly for the second straight week.

Also weighing on investors minds was the statement from the US Mortgage Bankers Association which said more than 13% of homeowners with a mortgage were either behind on their payments or in foreclosure.

"There are no real signs that consumption in the US is picking up," news agency AP was told by Ben Westmore, energy analyst with National Australia Bank in Melbourne.

"Until we see that, investors won't be assured that the recovery is imminent."

Investors are in an uncertain mood, this week bidding up oil an economic data which suggested the opposite about the economic cycle - and realise that data at the bottom of the correction is likely to turn this way and that, often by the day.

Earlier in the week investors were cheered when the US Eergy Information Administration said crude in storage fell by 8.4 million barrels last week, suggesting demand could be improving.

Meanwhile, the Conference Board's economic forecasting gauge, the Index of Leading Economic Indicators, rose for the fourth straight month during July.

"The data is quite volatile," Westmore told AP.

"If we see more inventory draws, oil could break through the $75 a barrel mark."

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
ADECCO HELSE AS Logo

ADECCO HELSE AS

Adecco er Norges største selskap innen bemanning og rekruttering til faste stillinger

Se profil | offshorex.no
SCANMATIC AS Logo

SCANMATIC AS

Scanmatic is a technology company utilising cutting edge multidisciplinary engineering competence within sensor technology and data acquisition to design and supply tailor made instrumentation, monitoring & control and communications applications specialised for Oil & Gas as well as marine environment.

Se profil | offshorex.no
VEX-GRUPPEN AS Logo

VEX-GRUPPEN AS

VEX-Gruppen Rekruttering og Bemanning er lokalisert på Straume på Sotra og i Stavanger. Vi bemanner og rekr. til alle type stillinger til næringslivet og jobber for gode relasjoner med fokus på effektivitet og fleksibilitet.Vi oppnår de beste resultater ved å sette mennesket i fokus,vi finner den rette for deg. Er du jobbsøker og ser en spennede stilling er det bare å sende inn din cv

Se profil | offshorex.no
OFFSHORE.NO AS Logo

OFFSHORE.NO AS

Nordens største nyhetsleverandør til olje- og gassbransjen.

Se profil | offshorex.no
Marwin Løfteteknikk AS Logo

Marwin Løfteteknikk AS

Marwin Løfteteknikk AS is exclusive dealer for Slingmax products in Scandinavia. A high end range of rigging solutions featuring their Twin-Path fibre sling; low weight, extreme braking load. Marwin Løfteteknikk AS are also authorized dealer for Dillon, the world leader in dynamometers since 1937.

Se profil | offshorex.no
NORISOL NORGE AS Logo

NORISOL NORGE AS

Norisol er en av Norges ledende bedrifter innen ISO fagene Isolering, Stillas og Overflatebehandling. Norisol er et Nordisk konsern og har kontorer i Danmark og Sverige i tillegg til Aberdeen. I Norge har vi kontorer i Stavanger, Porsgrunn, Drammen, Fredrikstad, Kristiandsand, Bergen og Stord.

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