Oil Rises for Fourth Day as Yukos May Reduce Exports to China
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Crude oil rose for a fourth day in New York after OAO Yukos Oil Co. said it will halt shipments to China&#39;s biggest oil company because its bank accounts have been frozen in a tax dispute with the Russian government.
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Yukos Oil Company , Russiaâs biggest oil exporter, which currently struggles to pay off staggering tax bills, has announced on Monday, September 20 that it will lower crude oil deliveries to China this month, and supply no oil in October, Bloomberg
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US oil prices have raced towards $46 a barrel after Russia&#39;s YUKOS suspended some oil exports to China and as traders remain concerned about storm-related supply disruptions into the United States.
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NEW YORK -- Oil prices broke above $46 yesterday after Russian oil giant Yukos said it would cut some oil shipments to China, the first toll on exports from the company's financial turmoil.
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NEW YORK, December 30  - Crude oil prices declined marginally today, after rising 4.5% yesterday on news of terrorist attacks in Saudi Arabia, the worldâs largest exporter of oil.
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The price of oil falls for the fourth day in a row, aided by an increase in Iraqi exports and data showing better than expected petrol stocks in the US.
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Crude oil prices surged to a new high Monday on supply concerns ahead of the winter, a possible petroleum-industry strike in Norway and data showing that China&#39;s big demand for oil is likely to increase.
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Crude oil surged to a four-week high, bringing the gain this week to almost $3 a barrel, on concern that shutdowns caused by Hurricane Ivan would further reduce inventories.
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NEW YORK, December 6  - Oil prices increased today on fears of the announcement of an output cut by the OPEC during its meeting scheduled for later this week.
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Oil rose on Thursday after OPEC officials said the producer group will cut output by 1 million barrels per day as soon as possible to prop up prices.
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Global oil prices edge up in early Thursday trading ahead of a key meeting by oil producers group Opec.
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Oil prices broke above $46 on Monday after Russian oil giant YUKOS said it would cut some oil shipments to China, the first toll on exports from the company&#39;s financial turmoil.
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US stocks rose after crude oil prices extended their decline to a fourth day, easing concern that higher energy prices will hinder economic growth.
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SAN FRANCISCO (AFX) -- Crude-oil futures closed higher to tally a gain of 5 percent for the month, lifted by growing doubt that ChinaÃ¢â¬â¢s interest-rate hike will dampen energy demand, and the ever-existing possibility that supply disruptions could
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Russian oil giant Yukos has decided to halt two-thirds of its oil exports to China, raising the stakes in its yearlong legal battle with the authorities.
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Prices were pushed higher by news on Sunday that Yukos had suspended delivery of 400,000 metric tons a month, or nearly 98,000 barrels a day, of rail-borne crude oil exports to China National Petroleum Co.
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Oil prices broke above $46 on Monday  after Russian oil giant YUKOS said it would cut some oil  shipments to China, the first toll on exports from the  company's financial turmoil.