Rio Tinto: Demand good despite high oil prices
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MELBOURNE: The world&#39;s second-largest diversified miner, Rio Tinto Ltd Plc, said yesterday high oil prices were increasing its costs but were not dampening demand for its key commodities.
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Oil prices surged to a new high of $47 a barrel on Wednesday on evidence from major economies that energy costs are not substantially slowing the economic growth that fuels oil demand. Fresh threats by rebel militia in ...
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LONDON - Oil prices held strong above $53 a barrel today as worries over a winter supply crunch countered expectations that high fuel costs would curb growth in petroleum demand next year.
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World demand for oil will rise more than expected while supplies will remain tight between now and 2012, experts say.
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The price of oil rebounds despite data showing that US crude oil stocks have risen.
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US oil prices held above $46 a barrel on Tuesday on worries of a major supply disruption at a time when producers are pumping at full tilt to meet strong demand.
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Oil rose nearly $1 on Monday to match its highest in almost a month, extending last week's late gains as Venezuela threatened to halt oil exports to the United States and bomb alerts shut down one of Britain's largest gas fields.
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LONDON  - Oil prices firmed, rising briefly above 50 dollars in New York, supported by supply disruptions to operations in the North Sea, making markets nervous heading into the northern winter.
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Oil prices will remain at high levels into next year owing to tight supplies and despite fears that a weak US economy may dent crude demand, leading energy consultants said here Monday.
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Business & money: Violent storms in the North Sea helped push global oil prices to new highs of just under $100 per barrel.
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Europe&#39;s main stock markets held steady after recent heavy losses, as investors looked to miner Rio Tinto&#39;s mammoth 38.1-billion-dollar takeover for Alcan, dealers said Thursday.
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Rio Tinto Ltd./Plc.'s   second-half net profit rose 25 percent, driven by higher prices for key commodities such as iron ore, aluminum and copper, and said capacity was fully stretched as it tries to meet demand.
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The world&#39;s largest miner, BHP Billiton, yesterday said that high oil prices were affecting spending worldwide but China&#39;s demand for commodities over the longer term was heartening.
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Oil prices have continued their record-breaking run on Wednesday, busting through the $47-mark amid concerns that demand will outstrip supply.
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Oil prices held strong on Friday not far below the $55-a-barrel mark as traders worried time is running out to top up low heating oil inventories before winter.
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Where does the volatility in oil prices come from and is it likely to persist?
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CONTINUING concerns over possible supply disruptions and strong demand pushed prices of crude oil futures to historical highs yesterday.