Crude Oil Prices Falls

Tuesday, August 29, 2006
Crude oil prices fell after reports indicated that a Caribbean tropical storm likely won't induce heavy damages like Hurricane Katrina, which ripped into Gulf of Mexico platforms and refineries a year ago. According to the National Hurricane Center in Miami, tropical storm Ernesto weakened as it swept over Haiti and carried sustained winds of about 50 miles per hour, less than a third of Katrina's 170 miles per hour winds that tore oil and gas platforms off their moorings. Crude oil for October delivery fell $1.27, or 1.75 percent, to $71.24 a barrel in electronic trading on the New York Mercantile Exchange in Paris. Oil reached $73.75 a barrel on August 25, on concern Ernesto would disrupt output at the Gulf of Mexico, source of a quarter of U.S. oil production. ConocoPhillips, BP Plc and Royal Dutch Shell Plc evacuated non-essential personnel from sites at the Gulf due to the impending storm. In London, Brent crude oil for October settlement fell $1.04, or 1.4 percent, to $71.68. (Source: Bloomberg)
Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

News

Documentary Examines Shipbreaking Practices in Bangladesh

Toxic ships for Bangladesh: TV documentary on German ship owners and their shipbreaking practices A new documentary titled "Giftiger Tankerschrott für Bangladesch

Containers, Cruises Help Boost Marseilles Fos

Container throughput at French port Marseilles Fos reached 876,711 teu for the period January to September, an increase of 6% on the first nine months last year.

Interferry Applauds IMO Consideration of BWTS Exemption

Interferry has praised a decision made at last week’s meeting of the IMO Marine Environment Protection Committee (MEPC) that could exempt certain ferry operators

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Pod Propulsion Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1320 sec (8 req/sec)