Limburg, 27-12-2005
The prices of crude oil were rather stable within the last few days. The listings in New York were almost U.S. $ 58/barrel while North Sea brand "Brent" was sold at more than 56 dollars.
Limburg, 16-12-2005
The Opec has decided on a retention of the current official production quota on last Monday. The prices of crude oil rose considerably to that. In New York the prices note down at almost U.S. $ 61.00/barrel, North Sea brand "Brent" was sold at almost U.S. $ 59.00.
Limburg, 6-12-2005
For the first time for approx. four weeks the crude oil listings approach 60.00 U.S. $ mark again, in London North Sea brand "Brent" was sold at U.S. $ 57.50. The longer price fall phase seems now to come to an end.
Limburg, 22-11-2005
After the downward trend of the prices of crude oil had been stopped due to bad store stock data, high demand and cold temperatures last week, a trend towards prices increasing is shown now. It is to pay about 58 U.S. $/barrel in New York, North Sea brand "Brent" again costs about 56 US $.
Limburg, 5-11-2005
The listings for crude oil have fallen on the lowest level last week for more than three months. In New York U.S. $ 60.58/barrel, in London U.S. $ 58.00 were to pay.
Limburg, 22-10-2005
The prices for crude oil have dropped further. The listings in New York were U.S. $ 60.63/barrel. For North Sea brand "Brent" U.S. $ 58.48 were to pay in London. Good store stock data from the USA and the non-appearance of another hurricane catastrophe led to these dropping prices.
Limburg, 10-10-2005
Last week the prices of crude oil have gone back considerably
Were U.S. $ 61.84/barrel in New York, U.S. $ 59.21 had to be paid in London for North Sea brand "Brent".
Limburg, 2-10-2005
The prices for crude oil climbed in the direction of the record levels of the beginning of September again, after a short price recession caused by the non-appearance of another natural disaster by hurricane "Rita". The listings were U.S. $ 66.24/barrel in New York while North Sea brand "Brent" is traded at U.S. $ 63.48/barrel in London.
Limburg, 25-9-2005
The consequences are hardly digested to some extent of hurricane "Katrina" at the oil markets, hurricane "Rita" tears the trade to and fro and presses even Opec-promoting decisions to the background. Being currently noted down in New York U.S. $ 64.19/barrel while for Northseaoil "Brent" U.S. $ 62.44 have to be paid in London. The prices were away in the direction of the 70 dollar brand to the week middle at times again, however.
Limburg, 9-9-2005
The price explosion at crude oil caused by hurricane "Katrina" is dismantled again almost completely, the listings lie on the standard before the natural disaster again. At present, the listings are more than U.S. $ 64/barrel in New York, the prices for North-Sea oil of the brand "Brent" dropped to U.S. $ 62.84 in London.
Limburg, 8-30-2005
Devastating hurricane "Katrina" has caused the shutdown of a variety of American oil supply and oil processing plants and driven the price of crude oil on over 70 U.S. $.
Is noted down in New York U.S. $ 70.50/barrel currently, North-Sea oil "Brent" is sold at more than U.S. $ 68 in London. The reports about the extent of the natural disaster in the reference to the oil business still are contradictorily, tightly stands, however, that the oil industry in the areas concerned for several weeks will stand still.
Limburg, 8-19-2005
The rally after permanently new highs at the price of crude oil doesn't take any end. Within the last days a record was reached with U.S. $ 68/barrel once more. An end doesn't seem foreseeable. Although the crude oil production has run at full speed for months and the stock data here are very good, the prices rise due to the refinery capacities still lacking further. An additional greater failure in the crude oil processing would have fatal consequences and the hurricane season is looked at by market participants and analysts particularly critically so.
Limburg, 8-12-2005
The oil price has obtained a new record with 66.11 U.S. Dollar per barrel. The record surpassed the day before record of 66.00 Dollar. Reason for the unbroken high altitude is beside the political situation in the Middle East the unbrokenly high demand with which the U.S. refineries hardly can step.
Limburg, 8-5-2005
The price limit of U.S. $ 62.00 per barrel has fallen. 62.31 U.S. dollars per barrel are on the quotations sheets in New York currently while the North Sea brand Brent is traded for 61.07 U.S. dollars in London. Primarily the discussions around the Iranian atom project provide uncertainty again and at present let hardly room to move to below. The listings seem to establish themselves over the 60 dollar brand stably quite the reverse. Moreover, the Saudi Arabian King Fahd has died, what but no-one have an effect immediate political one might have, the markets, however, react sensitively to such news.
Limburg, 7-29-2005
After the prices of crude oil had gone back slightly within the last few days, the listings climbed via the 60 dollar brand at the end of the week again. The contracts are at 60.57 U.S. dollars per barrel in New York currently while a barrel of the North Sea brand "Brent" is sold at about 59.4 dollars in London.
Limburg, 20.7.2005
In the last weeks, the price for oil hasn´t changed significant. The market changed according to latest news with ups and downs, always around US$ 60.00 / Barrel.
Limburg, 21.6.2005
On Monday, the price of oil approached the historic mark of 60 dollars. For a time, the price in New York rose to 59.23 US dollars a barrel (159 litres). The price then fell slightly to 58.99 dollars. In London the price for one barrel of North Sea type Brent was 57.82 US dollars. In the past 30 days, the price of oil has, therefore, risen by a good ten dollars. At the same time, concern rose about the negative effects on the economy of the oil price soaring. As the Euro lost value against the dollar in the last few days, the Euro countries had to pay more for oil, which is traded in US dollars. In the opinion of the mineral oil economy association (MWV), speculators have driven the price up. International crude oil stocks are not low enough for the speculations to be justified. One of the reasons for the most recent soar is the market concern that the refineries will not be able to cope with the petrol demand in the summer and build up sufficient fuel oil and diesel reserves for the end of the year. The US refineries are already working to 97 percent capacity. The US oil supply has been falling for decades. The supply gaps have to be covered by ever-increasing oil imports. Furthermore, the market is being weighed down by the tense security situation in the oil country of Nigeria.
Limburg, 18.6.2005
On 15.6.2005, OPEC announced an increase in supply quantity by 500,000 barrels per day. Stock levels in the USA have risen again. Also, although there is still only a low demand, crude oil prices rose sharply again during the week and reached new highs. In New York the price registered 58.47 US dollars per barrel and in London, North Sea brand "Brent" was trading at 57.76 US dollars.
Limburg, 10.6.2005
In the last week, prices on the international oil market remained high. In New York, prices are currently registering 53.54 per barrel and in London the cost of "Brent" North Sea oil was 52.67 US dollars.
Limburg, 4.6.2005
Crude oil prices in New York are currently registering 55.03 US dollars per barrel. In London, values for "Brent" North Sea oil rose to over 54 US dollars.
Limburg, 30.5.2005
What was threatened last week has finally happened this week: after a week's price reduction, crude oil prices rose sharply at times. Thus, prices in New York were recorded at 51.85 US dollars per barrel, whilst contracts on "Brent" North Sea oil in London were valued at 50.70 dollars. Equally, two communications ensured the upward trend. On the one hand, there were the US stock levels, which have fallen again for the first time in weeks - which are historically ata very high level, but have still resulted in a stark drop in prices in recent times. On the other hand, the new US economy figures point to further growth in the USA.
Limburg, 17.5.2005
In the last 2 weeks, stocks in the USA have risen further and thus led to a marked reduction in crude oil prices. Values in New York were at 48.67 US dollars. The prices in London for "Brent" North Sea oil were comparable. US stock levels reached their highest point in three years.
On the one hand, this is due to the fact that OPEC is supplying flat out, but the world economy has slowed slightly - resulting in a reduction of oil consumption. It must also not go unnoted that the oil markets have escaped bad news such as terrorist attacks, oil worker strikes and natural disasters in recent months, so crude oil supply has been able to continue almost undisturbed.
Limburg, 2.5.2005
Last week, increased US stock levels again allowed the oil price to approach the 50 dollar mark. In New York valuations were at 49.72 US dollars per barrel and in London, trading was even at over 51 dollars. In recent weeks, the oil reserves in the USA have risen steadily, such that they are now at their highest in three years. Attempts were made to explain the lack of downward pressure on prices by the lack of refinery capacities.
Limburg, 23.4.2005
Crude oil prices rose again for the first time in 2 weeks. Crude oil values in New York stood at 55.39 US dollars per barrel and in London, contracts for "Brent" North Sea oil also rose to almost 55 dollars.
Limburg, 15.4.2005
Crude oil prices fell further this week. The price in New York is now just 50.49 US dollars per barrels, whilst the price in Lond of "Brent" North Sea oil is still 51.61 dollars per barrel.
Limburg, 11.4.2005
After new record highs were reached recently, crude oil prices fell significantly during the week for the first time in a long period and in New York, they stood at 53.32 US dollars per barrel. In London "Brent" type North Sea oil was at 52.89 US dollars per barrel.
Limburg, 1.4.2005
Crude oil prices continue to rise. In New York, the price of a barrel is currently 57.27 US dollars. In London, "Brent" North Sea oil is trading at 56.51 dollars. The reason for the increasing prices is in a Goldman Sachs study. The investment firm sees the oil market as being at the start of a boom phase, with rapidly increasing prices up to 105 dollars per barrel. This is due to the increasing demand, primarily from China.
Limburg, 16.3.2005
At its meeting today, OPEC decided to immediately increase production by 500,000 barrels per day. In May, production could then be increased again by a further 500,000 barrels. These measures are aimed at trying to reduce the record oil price. Previously, the official quota was set at 27 million barrels per day, although OPEC including Iraq is actually currently supplying the market with around 29.5 million barrels a day. Experts are therefore not expecting lasting price decreases, as the quota increase has been an OPEC acknowledgement of current production anyway. It is expected that the decision will have a temporary calming effect on oil prices, but a collapse in the price of crude oil is generally not expected. After announcement of the OPEC decision, oil prices fell slightly, only to jump to new record levels after publication of the latest figures on the US crude oil stock reserves. In New York, after a short regression, the price of crude oil jumped sharply to 56.30 dollars per barrel - significantly above the record of 55.62 dollars on 25th October 2004. Saudi Arabia made it clear that it is aiming for an oil price between 40 and 50 dollars. The increase in supply quota, as suggested by Saudi Arabia and Kuwait was not disputed during the conference. Analysts assume from this that the international demand for crude oil is increasing by around 1.8 million barrels per day in the face of the continuing economic boom in China. With the exception of Saudi Arabia and the Gulf states, all oil supply countries are currently producing at the absolute limits of their capacity. However, some OPEC members fear that the surplus production of the last six months will lead to rapidly decreasing prices at the end of the winter. Ministers again postoned the decision on a new "guide price" for OPEC oil. The previously applicable price range of 22 to 28 dollars, which was long-since overtaken by market prices, was abandoned at the OPEC conference in January.
Limburg, 14.3.2005
Crude oil prices in New York have fallen slightly and are registering at 54.43 dollars per barrel. Meanwhile, "Brent" North Sea oil is trading in London at 53.10 dollars. A further OPEC meeting is scheduled for 16.3. The discussion on reduction of supply seems to no longer be an issue, rather the programme is on stabilising prices.
Limburg, 4.3.2005
High demand due to the ongoing cold temperatures in the northern hemisphere has resulted in further sharp increases in prices of crude oil. In New York, values rose to the record level of 55 dollars per barrel. "Brent" type North Sea oil climbed to a new record high of 51.80 dollars per barrel in London. The discussions going on until recently about cuts in supply are no longer an issue. It is being muted in OPEC circles that large supply stops could send the price up to 80 dollars per barrel in the short term.
Limburg, 24.2.2005
Up to yesterday, prices for crude oil rose to 51.29 dollars per barrel in New York. A rapid rise of 5.8 percent on the previous day. The price increases were supported byt the unusually cold weather in North American and Europe, which was responsible for higher demand. In the past Twelve months, the price of oil has risen by 49 percent. The price would increase further, "if there were a large crisis in the Middle East, terrorism in Saudi- Arabien, or a flare-up in Iraq, an increase in the problems in Venezuela or Nigeria, or if political uncertainties increase in Russia or another large producing country", according to analysts. A price of 60.00 dollars is generally expected in the course of this year.
Limburg, 12.2.2005
Crude oil prices rose up to the end of this week. In New York, valuations were at a good 47 dollars per barrel, having previously fallen back to 45 dollars. North Sea brand, "Brent" was trading at around 45 dollars.
Limburg, 5.2.2005
The oil markets remain stable at present and holding the price of oil in a range between 45 and 50 dollars. At the conference, OPEC saw no need for action to reduce supply quantities. In any case, there will probably be no reason in 2005, if the expected increase in demand from China is realised and the oil glut - linked to a rapid drop in price - feared by OPEC also fails to appear this year.
Limburg, 29.1.2005
In the run-up to the OPEC conference on 30.1.2005, prices for crude oil are currently relatively stable. Trading was at 44.95 dollars per barrel for "Brent" North Sea oil and at 47.18 dollars in New York. It is expected that OPEC will retain the current supply quantity. Anything else would be a surprise, as the cartel should be very happy with the current prices and the various pages of demand forecastshave been adjusted upwards. A price fall, as feared by OPEC, is not up for discussion.
Limburg, 15.1.2005
Oil prices have continued to climb. In New York, valuations were at 48.38 dollars per barrel, whereas "Brent" North Sea oil was trading at just 45 dollars.
Limburg, 10.1.2005
Valuations for crude oil in New York rose to 45.43 dollars per barrel, whilst the price of North Sea brand, "Brent", rose to 43.18 dollars. The highly significant price rise came as a surprise, in the light of the stable conditions.
Limburg, 3.1.2005
The values on the crude oil markets decreased further by the end of the year. In New York, the value was 43.45 dollars per barrel and North Sea "Brent" oil cost 40.46 dollars. Nonetheless, the price rise of crude oil over the whole of 2004 was over 33 percent. In 2005, three significant influences will also affect the market: the demand trend from China must certainly be named as the primary factor. Today, the country is already the second largest importer in the world and with two-figure growth rates, it will influence the markets in 2005. Furthermore, the political development in the important oil supply countries, particularly in the Middle East - will have a massive influence. The third decisive factor is the trend of the dollar against the Euro. In the future, crude oil will continue to trade in dollars, so a further rise in the value of the Euro would make improts cheaper. After the record highs of last year, a general decrease in oil prices is, nonetheless, expected for 2005. "We do not expect 2004 to repeat itself" one OPEC spokesperson said to Berlin's "Tagesspiegel". The orgainsation estimates that the price per barrel will fluctuate between 30 and 35 dollars. The German Institute for Economic Research (DIW) in Berlin is also expecting this range. According to estimates, however, oil will continue to remain relatively expensive. Driven both by high demand from China and the USA and by fears of supply stops, the oil price reached record ihghs in October. US crude oil was worth 55.67 dollars per barrel and the North Sea type Brent 51.95 dollars.
The Euro hit 2005 at a record level - the price of the dollar was 73.78 Euro cents.
