日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

  Home>News Center>World
         
 

World oil prices plummet
(Agencies)
Updated: 2004-10-28 09:51

World crude oil prices plummeted after a wild ride as investors scrambled to bank profits following news of a weekly surge in US crude oil inventories.

Prices swung violently after the release of a weekly snapshot of US petroleum inventories.

Investors at first fretted when an Energy Department survey showed US commercial stocks of heating oil had dropped for the sixth straight week, sending prices soaring.

A motorist pumps petrol into a vehicle. World crude oil prices plummeted after a wild ride as investors scrambled to bank profits following news of a weekly surge in US crude oil inventories. [AFP/File]
A motorist pumps petrol into a vehicle. World crude oil prices plummeted after a wild ride as investors scrambled to bank profits following news of a weekly surge in US crude oil inventories. [AFP/File]
But the mood switched as news sunk in that crude oil inventories had climbed sharply, sending prices into a downward spiral.

New York's benchmark contract, light sweet crude for delivery in December, plunged 2.71 dollars, or 4.9 percent, to close at 52.46 dollars a barrel, a three-week low.

It had peaked at 55.65 dollars -- two cents shy of an all-time record -- and plumbed a low of 52.10 dollars.

Brent North Sea crude for December slumped 2.11 dollars, or 1.4 percent, to close at 49.45 dollars. It had set a record high of 51.95 dollars before skidding as low as 49.25.

"At these highs, the volatility is amplified," PFC Energy analyst Jamal Qureshi said.

Investors saw no motive to set new highs, Qureshi said.

"So the rise of crude inventories gave an opportunity to take profits," he added.

Oil supply concerns were also assuaged by a "significant improvement" in output from the Gulf of Mexico, where hurricanes triggered underwater landslides, burying many oil platforms' pipeline networks.

Crude oil inventories surged 4.0 million barrels to 283.4 million barrels in the week to October 22, still near the lower end of average for the season, the Energy Department said.

Gasoline stocks rose 1.3 million barrels to 202.1 million, about average, the government survey showed.

But distillates -- mostly heating oil and diesel -- fell for the sixth consecutive week, declining by 2.4 million barrels to 116.6, below the average range.

Some analysts were surprised by the market's reaction to the inventory figures, which they said still pointed to a tight market.

"Heating oil stocks are now 15 percent below the average when you look at the last three years, and 13 percent down year-on-year," Commerzbank analyst David Thomas said in London.

"Forecasts are suggesting that we are in for a pretty cold winter this year in the northern hemisphere, compared to the last two winters.

"The situation is still tight. You still have the disruption fears: Nigeria's threat of strike, another bomb in Iraq and concerns about Russia's exports. All these things are going to keep oil prices high," he warned.

In Nigeria, a coalition of trade unions and pro-democracy groups issued Nigeria's President Olusegun Obasanjo with an ultimatum Tuesday, warning him to cut fuel prices this week or face a renewed nationwide general strike.



 
  Today's Top News     Top World News
 

Making of anti-trust law is speeded up

 

   
 

One-China policy key to talks with Taipei

 

   
 

Arafat collapses as his health worsens

 

   
 

Reuters: Bush leads Kerry by one point

 

   
 

Police: "Pessimistic" man set off bus blast

 

   
 

IOC warns against Olympic venue delays

 

   
  Arafat collapses as his health worsens
   
  Bush, Kerry slug it out over missing Iraqi explosives
   
  World oil prices plummet
   
  Tamil Tigers have not given up right to secede: negotiator
   
  Signs point to imminent showdown in Iraq
   
  Disaster toll tripled in 2003 amid quakes, heatwave
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
Oil returns to $55 as winter stocks ebb
   
Chinese drivers worry of petrol price hikes
   
Chinese drivers worry of petrol price hikes
   
Crude oil prices surpass $50 per barrel
  News Talk  
  Are the Republicans exploiting the memory of 9/11?  
Advertisement
         
主站蜘蛛池模板: 日韩欧美一区二区三区在线观看 | 性巴克成人免费网站 | 欧美成人精品欧美一级乱黄 | 激情久久网 | 久久99在线| 日韩国产欧美一区 | 亚洲无限观看 | 一级做a爱片性色毛片 | 亚洲网站在线观看 | 神马影院一区二区三区 | 亚洲天堂网站 | 亚洲超碰在线 | 日本在线一级片 | 一区二区三区中文字幕 | 色综综| 99热热99| 一本加勒比hezyo黑人 | 日韩欧美久久 | 一级片特黄 | 久久久成人精品视频 | 免费国产黄色片 | 日韩一区二区中文字幕 | 97色综合 | 日韩视频成人 | 三级福利片 | 伊人网在线免费 | 中文字幕免费高清 | 亚欧精品视频一区二区三区 | 欧美日韩在线观看视频 | 成人羞羞国产免费图片 | 成人手机在线播放 | 一本av在线 | 国产精品成人一区二区 | 美女操网站 | 国产日韩精品视频 | 51.cc网站入口永久入口 | 在线免费观看毛片 | 欧美一级做性受免费大片免费 | 日韩 欧美 综合 | 日韩一区二区三区免费视频 | 男插女青青影院 |