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- Dukhan Bank launches new House Finance campaign
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10/05/2010 00:00 AST
Crude oil prices inched up Monday, as global investors welcomed the news that European Union leaders agreed on a $900 billion bailout plan for Greece.
Crude for June delivery rose $1.69 or 2.25%, settling at $76.80 a barrel Monday.
Meanwhile, gasoline prices fell for the fourth day in a row, slipping to $2.908 a gallon from $2.914 the day before.
The price of crude rose along with global markets Monday after the EU and the International Monetary Fund approved a $900 billion rescue plan for debt-strapped European countries. In a separate show of support, the U.S. Federal Reserve joined central banks in Canada and Europe to re-establish a program supporting credit markets.
The European Central Bank also announced overnight it will buy government and private bonds to rescue the euro.
The news boosted optimism in Europe, giving investors two incentives to buy oil. A recovering European economy could boost demand for fuel, and second, more euros circulating could make a tangible commodity a more attractive investment than paper currencies.
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CNNMoney
| Ticker | Price | Volume |
|---|
| (In US Dollar) | Change | Change(%) | |
|---|---|---|---|
| Brent | 64.76 | 1.43 | 2.26 |
| WTI | 61.5 | 1.43 | 2.38 |
| OPEC Basket | 66.41 | 3.01 | 4.75 |
15/04/2025
OPEC has trimmed its 2025 global oil demand growth forecast, pointing to first quarter data and recently announced US trade tariffs as key factors behind the revision.
In its latest monthly
Arab News
14/04/2025
Oil prices fell on Monday on concerns the escalating trade war between the US and China would weaken global economic growth and dent fuel demand.
Brent crude futures were down 22 cents, or 0
Reuters
11/04/2025
A double whammy of demand threats from global tariff war and increased supply has opened up the way for considerable downside volatility in oil markets, analysts say.
"Premiums for downside
Khaleej Times
09/04/2025
Oil prices fell for a fifth day to their lowest since February 2021 on Wednesday on looming demand concerns fueled by an escalating tariff war between the US and China, the world's two biggest econom
Reuters
08/04/2025
Oil prices plummeted over 3.0 per cent on Monday, extending a steep decline from last week, as intensifying trade tensions between the US and China fuelled fears of a global recession and weakened de
Khaleej Times
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