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 March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

News

Carnival to Add Nine Ships to Cruise Fleet

Carnival Corporation enters into strategic partnerships to add nine cruise ships to its fleet over a four-year period starting in 2019; shipbuilders Fincantieri

Coast Guard Academy Cadet to Receive Fulbright Scholarship

Stephen Horvath, a first class cadet at the U.S. Coast Guard Academy, was recently granted a two-year Fulbright Scholarship to study renewable energy technologies

Ecochlor Presents BWTS Case Study at CMA

Ballast water treatment technology developer Ecochlor Inc. presented a project case study yesterday at CMA Shipping 2015 in Stamford, Conn. The case study covered

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Pod Propulsion Salvage Ship Electronics Ship Repair Sonar
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: 0.3460 sec (3 req/sec)