Oil price: mild European temperatures keep the price of fossil fuels low

European gas prices that have been steadily rising in the last two weeks played a definite role in stopping the crude oil from plummeting due to gloomy economic developments across the world. With the unseasonably mild temperatures in the continent, mercury rising into double digits on many days, th…

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Falling oil price continues in step with feared economic gloom

The price of crude oil tumbled further when the markets opened for business on Monday, reflecting the widespread anxieties over the health of the global economy, exacerbated by the rising energy costs. As of 11:45 GMT, the prices of WTI, Brent and LNG, liquified natural gas, were at $79.76, $87.34 a…

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Oil price: short-lived boost ended with gloomy economic forecasts

The short-lived boost enjoyed by the oil markets, thanks to the significant crude draw announced by the EIA, US Energy Information Administration, this week lost its spark on Thursday as the gloomy economic news grabbed the headlines - once again. Jeremy Hunt, the Chancellor of Exchequer of the UK, …

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US Midterm elections: not midterm blues for Democrats, after all

The price of crude oil that had been steadily rising for the past three weeks lost its momentum once again on Tuesday and continued to stay that way on Wednesday, when the markets opened for business. Analysts are divided when it comes to gauging the impact of the outcome of the US midterm elections…

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Has the oil price found the direction - finally?

The price of crude oil, which almost mimicked a turbulent whirlpool in a swollen river for the past few weeks, finally seemed to have found a certain sense of direction. For three successive weeks, it has been rising despite the endless gloomy, economic news that has cast an ominous shadow across th…

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