Mon, 04/10/2010 - 21:39 by harsheeb
New York -- Crude oil prices climbed to over $82 per barrel Monday on the New York Mercantile Exchange with traders still concerned about a downturn in U.S. inventories.
Prices felt some downward pressure from a declining euro, which was shaken last week by troubles at Irish banks. The Irish government said it would require up to $46 billion in taxpayer funds to shore up the troubled Anglo Irish Bank.
Crude oil prices Monday morning added 62 cents to a prior settlement to reach $82.20 per barrel. Heating oil prices added 5.5 cents to $2.2993 per gallon.
Reformulated gasoline prices gained 2.19 cents to $2.108 per gallon.
Henry Hub natural gas prices lost 8.3 cents to reach $3.714 per million British thermal units.
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Sun, 03/10/2010 - 06:49 by harsheeb
Corvallis -- The BP oil disaster sent carcinogenic chemical levels soaring in the Gulf of Mexico, researchers said.
Kim Anderson, an environmental toxicology professor at Oregon State University, told the Los Angeles Times she found a 40-fold increase in polycyclic aromatic hydrocarbons off the Louisiana coast from May to June.
"It's an incredibly huge jump in concentration in a natural environment," she said.
Anderson's team started testing weeks after the April 20 well blowout, taking water samples at four locations near the shore. Results from early August, after the well was capped and stopped leaking, continued to show elevated levels.
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Sat, 02/10/2010 - 04:54 by harsheeb
New York-- Crude oil prices rallied Friday to a seven-week high, closing up $1.61 to $81.58 a barrel on the New York Mercantile Exchange.
Analysts said Friday's close was the highest since Aug. 9, and the first settlement at more than $80 a barrel since Aug. 10.
Optimism about a falling U.S. currency and the latest U.S. stockpile report helped to fuel the commodity's surge, MarketWatch.com said.
"We're just seeing end-of-week rally on weakness of the dollar," said Matt Smith, an analyst with Summit Energy in Kentucky.
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Fri, 01/10/2010 - 21:01 by harsheeb
New York -- Crude oil prices surged above $81 per barrel Friday morning with traders still adjusting positions after the latest U.S. stockpile report.
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Fri, 01/10/2010 - 07:36 by harsheeb
New York -- Crude oil prices surged to close to $80 per barrel in New York Thursday after the Energy Information Administration said crude oil stockpiles had declined.
Crude oil prices have added close to $3 per barrel since the EIA said oil inventories fell by 500,000 barrels in the week ending Sept. 27 to 357.9 million. By itself, the decline was not large, but inventories of gasoline dropped as well, falling by 3.5 million barrels while heating oil supplies fell by 1.3 million barrels.
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Thu, 30/09/2010 - 21:01 by harsheeb
New York -- Crude oil prices surged to higher than $79 per barrel in New York Thursday, after the Energy Information Administration said crude oil stockpiles had declined.
Crude oil prices have added close to $3 per barrel since the EIA said oil inventories fell by 500,000 barrels in the week ending Sept. 27 to 357.9 million. By itself, the decline was not large, but inventories of gasoline dropped, as well, falling by 3.5 million barrels while heating oil supplies fell by 1.3 million barrels.
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Thu, 30/09/2010 - 08:11 by harsheeb
Washington -- U.S. crude oil inventories fell by 500,000 barrels in the week ending Sept. 24, the U.S. Energy Information Administration said Wednesday.
The agency said crude inventories dropped to 357.9 million barrels during the week with supplies remaining above the upper limit of the average range for this time of year.
Gasoline inventories fell by 3.5 million barrels in the week. At 222.6 million barrels, stockpiles of gasoline are also above the upper limit of the average range.
Supplies of distillate fuels, which include heating oil, fell by 1.3 million barrels to 173.6 million barrels.
Inventories of finished gasoline and stocks of gasoline blending components fell during the week, the energy agency reported.
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Thu, 30/09/2010 - 07:53 by harsheeb
New York -- Crude oil prices jumped close to $78 per barrel in New York as the Energy Information Administration said U.S. inventories declined in the week.
At the New York Mercantile Exchange, November delivery light, sweet crude oil added $1.62 cents $77.92 per barrel after the administration said inventories of crude oil fell by a half million barrels in the week ending Sept. 27.
Gasoline inventories plunged by 3.5 million barrels in the week. Supplies of distillate fuels, which include heating oil, also fell, dropping by 1.3 million barrels, EIA reported.
Heating oil prices rose 0.3 of a cent from a recent settlement to $2.2143 per gallon. Reformulated gasoline blendstock prices rose 0.21 of a cent to $1.985 per gallon.
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Thu, 30/09/2010 - 07:31 by harsheeb
Cape Town -- South Africa, subject to electricity rationing and rolling blackouts, says it will invest in a solar power farm to meet increasing electricity demands.
The solar park will be built in the Northern Cape Province and generate 5,000 megawatts of energy, about 11 percent of the country's current power production, the BBC reported.
South Africa has been rationing electrical power since 2008.
Presently, most of the country's electricity is generated by coal-fired power plants.
The country, which also supplies electricity to a few neighbors including Zimbabwe, needs to increase its energy production by 40,000 megawatts during the next decade, the energy department says.
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Thu, 30/09/2010 - 00:21 by Shruti Sharma
Sacramento -- Solar projects on track for approval by California will double the state's ability to generate electricity from solar power, state officials say.
Since August, four major solar projects including a 7,000-acre solar farm billed as the world's largest have won approval from the California Energy Commission, which is expected to OK two more this week, USA Today reported Wednesday.
The solar farms, which use mirrors to concentrate the sun's power to produce heat and generate electricity, could eventually produce enough electricity to power 675,000 homes, the newspaper said.
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Wed, 29/09/2010 - 22:18 by harsheeb
Tocco Da Casauria -- More than 800 communities in Italy are making more power than they use with wind and solar installations, and many are making a profit from it, officials say.
One such community is Tocco Da Casauria, where selling excess renewable energy has meant the town has no local taxes and charges no fees for services like garbage removal, The New York Times reported Wednesday.
In the town of 2,700 people in Italy's poor mountainous center, wind turbines sprout from its olive groves while solar panels generate electricity at its cemetery and sports complex as well as at a growing number of private residences, the newspaper said.
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Wed, 29/09/2010 - 21:00 by harsheeb
New York -- Crude oil prices held steady overnight in New York above $76 per barrel as equities were mixed in Asia and lower in Europe.
China's Shanghai composite index closed flat Wednesday, down 0.03 percent while the Nikkei 225 index in Japan closed higher, up 0.67 percent. In midday trading in Europe, the FTSE 100 index in Britain was down 0.28 percent. In Germany, the DAX 30 was off 0.32 percent.
On Wednesday morning, trading is generally muted in advance of a weekly U.S. inventory report, which is released at midday.
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