International Business News - Oil http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif President Rafael Correa says Ecuador wants to buy out private oil companies unwilling to negotiate new deals with his government. Correa has asked companies now suing over an October decree that slashed their share of windfall oil profits to 1 percent to drop their lawsuits. http://www.ibtimes.com/articles/20080517/ecuador-offers-to-buy-out-oil-companies.htm Sat, 17 May 2008 19:32:16 EDT Soybeans gained 1.5-percent this week, with the July contract settling 20 cents higher on the week at $13.78 a bushel. Speculation that the Argentine farmer strike would add pressure to an already tight U.S. supply kept prices higher. Improving corn plantings in the U.S. Midwest, however, capped any additional gains in the corn market. http://www.ibtimes.com/articles/20080517/cnc-commodities-weekly-wrap-up.htm Sat, 17 May 2008 08:32:22 EDT News that Saudi Arabia had boosted its oil output by 300,000 barrels a day was greeted as a non-event on oil markets _ the move wasn't anywhere near the kind of production increase needed to bring prices down on Friday. http://www.ibtimes.com/data/articleimgs/48251-oil-prices.jpg http://www.ibtimes.com/articles/20080517/oil-sets-record-near-128-pump-price-at-high-too.htm http://www.ibtimes.com/articles/20080517/oil-sets-record-near-128-pump-price-at-high-too.htm Sat, 17 May 2008 10:56:39 EDT Gold prices picked up another 2.4% on Friday, as the dollar dropped quite a hefty amount, to 72.79 on the index. A $3.69 rise in crude oil during the day (to $127.82) was met with a correlated move in gold this time around. A http://www.ibtimes.com/articles/20080516/oil-amp-gold-divorce-or-happy-reunion.htm Fri, 16 May 2008 19:06:15 EDT A report done for a Colorado oil and gas trade group says proposed new state regulations could cost natural gas customers billions of dollars over the next decade. http://www.ibtimes.com/articles/20080516/oil-gas-rules-may-cost-colo-customers-billions.htm Fri, 16 May 2008 12:58:37 EDT Gold futures closed near $900 an ounce on Friday in New York, making it the highest gain for the contract in 10 weeks as energy costs surged to a record and the dollar weakened, boosting the appeal of the precious metal as a hedge against inflation. http://www.ibtimes.com/articles/20080516/gold-oil-silver-commodities-futures-hedge.htm Fri, 16 May 2008 17:21:33 EDT Responding to congressional pressure, the Bush administration on Friday said it is suspending oil deliveries into the government's Strategic Petroleum Reserve for the remainder of the year. http://www.ibtimes.com/data/articleimgs/47616-oil-prices.jpg http://www.ibtimes.com/articles/20080516/us-oil-shipments-canceled.htm http://www.ibtimes.com/articles/20080516/us-oil-shipments-canceled.htm Fri, 16 May 2008 14:05:21 EDT Crude oil soared to a new record high on Friday above $127 a barrel, after Goldman Sachs significantly increased its projections for oil prices while trader's feared demand for distillate fuels from China will increase next month. http://www.ibtimes.com/data/articleimgs/47525-oil.jpg http://www.ibtimes.com/articles/20080516/oil-goldman-sachs-record-brent-china.htm http://www.ibtimes.com/articles/20080516/oil-goldman-sachs-record-brent-china.htm Fri, 16 May 2008 16:16:21 EDT U.S. stocks fell on Friday for the second day this week, after reports showed consumer confidence plunged to a 28-year low while crude oil soar to another record high, http://www.ibtimes.com/data/articleimgs/47766-.jpg http://www.ibtimes.com/articles/20080516/stocks-wall-street-shares-oil-goldman-sachs-economy.htm http://www.ibtimes.com/articles/20080516/stocks-wall-street-shares-oil-goldman-sachs-economy.htm Fri, 16 May 2008 15:12:53 EDT Gold prices picked up yet another 1.5% overnight as the dollar headed lower on anticipation of poor US housing and consumer confidence data being released today. A two-dollar rise in crude oil (to $126.09) was met with a correlated move in gold this time http://www.ibtimes.com/articles/20080516/hedge-trimming-season.htm Fri, 16 May 2008 08:51:01 EDT News that Saudi Arabia had boosted its oil output by 300,000 barrels a day was greeted as a non-event on oil markets _ the move wasn't anywhere near the kind of production increase needed to bring prices down on Friday. http://www.ibtimes.com/data/articleimgs/46943-oil-prices.jpg http://www.ibtimes.com/articles/20080516/oil-prices-rise-after-volatile-session.htm http://www.ibtimes.com/articles/20080516/oil-prices-rise-after-volatile-session.htm Fri, 16 May 2008 20:24:00 EDT A slight slip in crude oil prices yesterday as global oil demand was forecasted to increase by 1.35% with a prior estimate of 1.40%. As there remains a global slowdown in economies and with the massive rise in prices lately, it is becoming harder on consumers and businesses to demand oil. The market... http://www.ibtimes.com/articles/20080516/technical-analysis-for-crude-oil-5-16-2008.htm Fri, 16 May 2008 03:50:02 EDT Crude oil closed modestly lower today, with the June contract settling 10 cents lower at $124.12 a barrel. Larger than expected build in U.S. natural gas inventories pulled crude lower after rallying $2 higher early in the session. http://www.ibtimes.com/articles/20080515/commodity-news-center-com-market-summary.htm Thu, 15 May 2008 21:14:12 EDT Gold futures closed with gains for the first time this week on speculation that higher energy costs and a weaker dollar will boost demand for the precious metal as a hedge against inflation. http://www.ibtimes.com/articles/20080515/gold-oil-silver-commodities-futures.htm Thu, 15 May 2008 16:22:56 EDT The chief financial officer of oil and gas exploration company Forest Oil Corp. exercised options for 10,000 shares of common stock, according to a Securities and Exchange Commission filing Wednesday. http://www.ibtimes.com/articles/20080515/forest-oil-chief-financial-officer-sells-stock.htm Thu, 15 May 2008 16:10:22 EDT Oil futures gave up early gains and fell sharply Thursday, a move analysts attributed to the expiration of options and to a sharp drop in natural gas prices. Retail gas prices, meanwhile, advanced past $3.77 a gallon. http://www.ibtimes.com/articles/20080515/oil-falls-as-options-expire-gas-prices-rise.htm Thu, 15 May 2008 14:20:39 EDT Oil futures gave up earlier gains and fell Thursday, a move analysts attributed to the expiration of options and to a sharp drop in natural gas prices. Retail gas prices, meanwhile, advanced past $3.77 a gallon. http://www.ibtimes.com/articles/20080515/oil-prices-reverse-course-and-fall.htm Thu, 15 May 2008 12:36:30 EDT Oil prices surged nearly $2 a barrel Thursday as the dollar fell against the euro and investors anticipated strong demand for diesel fuel in parts of China ravaged by Monday's earthquake. Gas prices, meanwhile, advanced past $3.77 a gallon. http://www.ibtimes.com/articles/20080515/oil-prices-surge-on-weaker-dollar-diesel-demand.htm Thu, 15 May 2008 09:58:00 EDT Oil prices surged $2 a barrel Thursday as the dollar fell against the euro and investors anticipated strong demand for diesel fuel in parts of China ravaged by Monday's earthquake. Gas prices, meanwhile, advanced past $3.77 a gallon. http://www.ibtimes.com/articles/20080515/oil-prices-surge-on-weaker-dollar-diesel-demand-concerns.htm Thu, 15 May 2008 09:54:37 EDT Relatively quiet conditions dominated the overnight action in gold as it spent the time within the $860-$870 range following yesterday's dip to one-week lows. Light physical buying emerged and lent support to the metal, along with a turn http://www.ibtimes.com/articles/20080515/bubble-bursting-blueprint.htm Thu, 15 May 2008 09:35:53 EDT