US Crude Falls Towards $94 on EU Recession Fears

Source: Reuters 5/15/2012, Location: North America

U.S. crude prices dropped towards $94 a barrel, pressured by concerns that Europe would slip into a worse-than-expected recession.

NYMEX crude for June slipped 63 cents to $94.15 a barrel by 2312 GMT, after falling more than a dollar the previous session.

With efforts to patch together a Greek government looking doomed, EU policymakers warned the country it could not remain in the euro zone if it ripped up its bailout programme, and financial markets ratcheted up the pressure on the bloc.

Strong production in Germany could not make up for a slump across the rest of the euro zone in March with declining output at factories falling and signaling an oncoming recession that may not be as mild as policymakers hope.

High oil prices are threatening the global economic recovery, the Executive Director of the International Energy Agency Maria van der Hoeven said.


Norway >>  5/20/2022 - Equinor announced on 9 February 2022 an ordinary dividend per share of USD 0.20 and an extraordinary dividend per share of USD 0.20 for fourth quarter...
Norway >>  5/19/2022 - Reference is made to the Norwegian Energy Company ASA ("Noreco" or the "Company") convertible bond loan with ISIN NO 0010851520 (the "NOR13 Bonds") is...

Tanzania >>  5/19/2022 - Orca Energy Group Inc. announced that its Board of Directors has declared a quarterly cash dividend of $0.10 (Cdn) per Class A Common Voting Share (“C...
United States >>  5/19/2022 - KBR announced its Board of Directors has declared a regular quarterly dividend of $0.12 per share on the company's common stock, par value $0.001 per ...

United States >>  5/19/2022 - Halliburton Company announced that at its annual meeting of shareholders held in Houston, Texas, on May 18, 2022, the shareholders elected all eleven ...
Gabon >>  5/18/2022 - VAALCO Energy Inc. announced entry into a new credit agreement, effective May 16, 2022, for a new five-year Reserve Based Lending (“RBL”) facility wit...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.