News // Oil and gas worldwide
Oil Price Slips Below $50
08 April 2009 , 11:05FWN Financial News1394
Light, sweet crude for May delivery settled down $1.90, or 3.7%, at $49.15 a barrel on the New York Mercantile Exchange, after slipping as low as $48.89 a barrel just before the market closed. May Brent crude on the ICE futures exchange settled $1.02 lower at $51.22 a barrel.
Crude prices fell kicked lower by the sinking stock market and a stronger dollar. Traders continue to eye U.S. equities as a proxy for the broader economy, hoping a sustained rally will trickle through to a recovery in oil demand.
However, the growing imbalance between massive crude supplies and still-weak demand remains the biggest roadblock to efforts to push higher.
18:00 21.03.2019NGV fuel becoming increasingly popular in Russia
16:08 21.03.2019Deputy Premier explains Belarus' position on EAEU gas transit rates
16:08 13.03.2019Georgia to increase Azerbaijani gas import
16:06 07.03.2019Rosneft aims at Asia’s oil market with trading unit
18:00 06.03.2019N.Pashinyan says gas price for Armenia should not differ much from other EEU members
00:02 04.03.2019Belarus president concerned about Russia's unwillingness to negotiate long-term gas price