Tue, 09/11/2010 - 21:14 by harsheeb
New York -- Crude oil price held above $87 per barrel in New York Tuesday after The International Energy Agency said energy demand would rise sharply through 2035.
The agency's annual World Energy Outlook said demand would rise 36 percent in the next 25 years, pushed largely by a growing domestic market in China.
China's own demand was expected to grow by 75 percent over the next quarter century. At that point, it would account for 22 percent of the world's energy demands, up from a current 17 percent.
In the same span, the price of a barrel of oil would nearly double from close to $60 per barrel in 2009 to $113 per barrel, the agency said.
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Tue, 09/11/2010 - 21:12 by harsheeb
Paris -- A widely respected energy research agency said Tuesday that global energy demand would grow by a third by 2035.
The International Energy Agency said energy demand would surge 36 percent in the next 25 years, pushed largely by growing demand in China, an importer of fossil fuels, The New York Times reported.
"It is hard to overstate the growing importance of China in global energy markets. The country's growing need to import fossil fuels to meet its rising domestic demand will have an increasingly large impact on international markets," the agency said in its annual World Energy Outlook report.
China's own demand for energy is expected to increase 75 percent by 2035.
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Tue, 09/11/2010 - 09:36 by harsheeb
New York -- Crude oil prices held even Monday above $86 per barrel in New York with the dollar index heading higher.
Renewed concerns over government debt in Europe helped weaken the euro, giving the dollar a boost.
The dollar index rose 0.63 percent to 77.03. December delivery crude oil prices, near a two-year high, hit a trading session high of $87.49 and a low of $85.96, before settling at $86.85 per barrel on the New York Mercantile Exchange.
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Mon, 08/11/2010 - 21:35 by harsheeb
New York -- Crude oil prices slid Monday morning, but held above $86 per barrel in New York with the dollar index heading higher.
Renewed concerns over government debt in Europe helped weaken the euro, giving the dollar a boost.
The dollar index rose 0.69 percent to 77.08. December delivery crude oil prices, near a two-year high, lost 47 cents in early trading to $86.38 per barrel on the New York Mercantile Exchange.
Heating oil prices on the exchange shed 0.48 cents from a prior settlement to $2.38 per gallon. Reformulated gasoline blendstock prices shed 1.97 cents to $2.1603 per gallon. Natural gas prices added 11.3 cents to $4.05 per million British thermal units.
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Sat, 06/11/2010 - 10:57 by Rakhi
New York -- Crude oil prices topped $87 per barrel Friday, reaching a 24-month high on a combination of economic events.
The U.S. Federal Reserve Wednesday said it would buy $600 billion worth of long-term treasury bonds, an announcement that reverberated through equity markets Thursday and Friday. Asian markets were sharply higher Friday, although U.S. markets came back down to Earth posting modest gains after a surge Thursday.
On Friday, the Labor Department said the U.S. economy added 151,000 jobs in October.
The dollar index rallied, rising 0.94 percent, but oil prices ignored the gain and climbed, too.
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Thu, 04/11/2010 - 07:23 by harsheeb
New York- Crude oil prices moved higher in New York after the U.S. Federal Reserve said it would restart a policy of quantitative easing.
Investors have been anticipating a new round of Fed bond purchasing since August when Fed Chairman Ben Bernanke began hinting more purchases were a possibility.
The surprise for the day was how much the Fed said it would invest. Policymakers choose to target $600 billion in long-term bond investments through the second quarter of 2011.
December delivery crude oil added $1.13 on the New York Mercantile Exchange to $85.03 per barrel. Heating oil prices rose 3.59 cents to $2.3295 per gallon. Reformulated gasoline blendstock gained 3.14 cents to $2.141 per gallon.
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Wed, 03/11/2010 - 07:30 by harsheeb
Rotterdam -- Dutch scientists say a North Sea fossil is of a previously unknown species of dolphin with a short, spoon-shaped nose and high, bulbous forehead.
Researchers at the Natural History Museum Rotterdam have named it Platalearostrum hoekmani after Albert Hoekman, a Dutch fisherman who trawled up a bone from the creature's skull in 2008, the BBC reported Monday.
Museum researchers Klaas Post and Erwin Kompanje say the North Sea has offered up a rich bounty of fossils in recent decades as bottom-trawling has become more common.
The 20-foot dolphin lived 2 million to 3 million years ago, part of the family of marine mammals known as Delphinids, oceangoing dolphins that include both killer and pilot whales.
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Tue, 02/11/2010 - 07:58 by harsheeb
New York -- Crude oil prices rose sharply Monday, topping $83 per barrel after China said manufacturing activity rose in October.
The headline HSBC China Manufacturing Purchasing Managers Index rose from 52.9 to 54.8 with business activity climbing for the third consecutive month and at the fastest rate since January.
The U.S. Institute of Supply Management said U.S. manufacturing also expanded in October with the headline PMI index increasing from 54.4 to 56.9, but Election Day jitters and uncertainty over the Federal Reserve's monetary policy decision expected Wednesday held markets in check.
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Tue, 02/11/2010 - 07:55 by harsheeb
Portland-- Along with providing benefits like energy conservation and mitigating greenhouse gases, trees in urban settings can be crime-fighters, U.S. researchers say.
Researchers with the U.S. Forest Service say a study conducted in Portland, Ore., suggests certain types of city trees may help lower the rate of property crime and violent crime, a USFS release said Monday.
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Tue, 02/11/2010 - 05:18 by harsheeb
Champaign -- Grass could be the bioenergy crop of the future as the demand for biofuels increases, replacing corn as the premiere biofuel crop, U.S. researchers say.
Researchers at the University of Illinois have completed the first analysis of potential bioenergy grass crops in the Midwestern United States, a university release said Monday.
Corn ethanol is currently the main biofuel available but the demand for ethanol competes with corn's availability as food and that could drive up food costs, researchers say.
The U.S. government has mandated that 20 billion gallons of biofuels must be produced annually from non-corn biomass by 2022.
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Mon, 01/11/2010 - 21:43 by harsheeb
New York -- Crude oil prices rose sharply Monday, topping $83 per barrel after China said manufacturing activity rose in October.
The headline HSBC China Manufacturing Purchasing Managers Index rose from 52.9 to 54.8 with business activity climbing for the third consecutive month and at the fastest rate since January.
December delivery crude oil on the New York Mercantile Exchange added $2.16 to $83.59 per barrel, a 2.6 percent gain. Heating oil prices jumped 5.94 cents to $2.2971 per gallon. Reformulated gasoline prices added 6.06 cents to $2.12 per gallon.
Henry Hub natural gas prices lost 6 cents to $3.978 per million British thermal units.
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Fri, 29/10/2010 - 08:12 by harsheeb
New York-- Crude oil prices dropped slightly in New York Thursday to under $82 per barrel, despite support from the dollar index, which dropped 1.09 percent.
Crude oil prices dropped 27 cents to $81.91 per barrel following the Energy Information Administration's announcement Wednesday that U.S. crude oil supplies rose by 5 million barrels to 366.2 million barrels, above the average range for this time of year.
Gasoline stockpiles dropped by 4.4 million barrels to 214.9 million in the week ending Oct. 22.
On the New York Mercantile Exchange, heating oil prices lost 0.54 cents to $2.254 per gallon. Reformulated blendstock for December delivery shed 0.8 cents to $2.0748 per gallon.
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