NEWSGD.COM
Home | About Us | Contact Us | Site Map | Chinese
News | Biz | Pearl River Delta | Enjoy Life | Culture | Travelling | Pics | Cities & Towns | Gov Info | Specials
Current Home > Business > Biz Headlines
Oil prices fall sharply on ample energy stock
Latest Updated by 2006-09-21 11:36:48
Related News
Technological breakthrough may reduce oil use
World oil prices rallied
China, VietNam accelerates oil project
Oil prices fall below 68 dollars
Record oil prices bring turbulence for air shares
Oil prices drop on U.S. energy report
Oil prices surge above 72 dollars
Business News
Oil prices fall sharply on ample energy stock
China to overtake Germany as 3rd biggest car producer
China's IMF quota increases to 3.72%

World oil prices fell sharply to the lowest in six months on Wednesday after an unexpected distillate fuel stock growth.

New York's main contract, light sweet crude for delivery in October, dropped 1.20 dollars to close at 60.46 dollars per barrel, after hitting as low as 59.80 dollars.

In London, Brent North Sea crude for November delivery fell 1.70 dollars to close at 60.47 dollars per barrel.

U.S. commercial crude oil inventories fell last week while stockpiles of gasoline and other refined fuels posted gains, the Energy Department reported Wednesday in its weekly survey.

In the week ending Sept. 15, commercial crude oil reserves dropped 2.8 million barrels to 324.9 million. Still, that was 5 percent higher than a year ago and well above the five-year average for this time of year.

Gasoline stockpiles, however, rose by 600,000 barrels last week to 207.6 million, or 6 percent above year ago levels. Supplies of distillate fuel, including diesel and heating oil, jumped by 4.1 million barrels last week to 148.7 million, or more than 11 percent above year ago levels.

Crude futures have fallen more than 20 percent from its record 78.40 dollars per barrel in mid-July, as demand was downgraded and supply worries eased.

Editor: Yan

By: Source: China View website
Previous:    Next:China to overtake Germany as 3rd biggest car producer


Thai King appoints coup commander


China Table Tennis Grand Prix kicks off in Guangzhou


Hengqin Stone Park in Zhuhai


Oil Pipe Line to be completed


5th Anniversary of 9/11 Terror Attacks
This site contains material from other media for content enrichment purpose only.
The Southcn.com website do not endorse such content and do not bear the joint responsibility of their copyright infringement.
The views expressed in written material posted to the bulletin boards of Southcn.com are those of the authors and/or publishers. The Southcn.com website does not endorse information products posted by organizations and individuals here. The originators of these information products are solely responsible for their content.
For copyright infringement issues, you shall contact Southcn.com within thirty (30) days. Email: falv@southcn.com
If you find any error in this page, please drag your mouse to mark the text with error, then press "CTRL" and "ENTER", to inform us. Thanks for your help!
Home  |  About Us  |   Contact Us  |  Site Map  |  Chinese
©2005 WWW.NEWSGD.COM. All rights reserved.registered number 020074 Terms of Use | Advertise | ICP Certificate No.B2-20050252
Guangdong Gov Link
Guangdong Gov Brief
State Structure
Guangdong in Brief
Laws & Regulations
Exchange Rate
Guangdong Guide
   
Museum Museum
University University
Eat Eat
Shopping Duting
Night Life Night Life
Weather Weather
Phone No. Phone Num
Consulate Consulate
Airport Airport
Travel Tips Tours Tips