在线国产一区二区_成人黄色片在线观看_国产成人免费_日韩精品免费在线视频_亚洲精品美女久久_欧美一级免费在线观看

  Home>News Center>World
         
 

Oil surges over US$48 after supply drop
(Agencies)
Updated: 2004-09-23 09:21

Oil prices climbed to within a dollar of a new record on Wednesday after the US government reported a big decline in oil stockpiles because of disruptions from Hurricane Ivan.

US oil futures settled up US$1.59 at US$48.35 a barrel after hitting US$48.65 midday, just 75 cents shy of the US$49.40 record struck on Aug. 20. The gains came after the US Energy Information Administration said crude supplies fell 9.1 million barrels last week due to the effects of the hurricane.

US oil supplies in the wake of Ivan dropped to the lowest since February, and well-below the average range in the run-up to winter, when heating oil demand hits its peak, according to the EIA's weekly report.

"The market is clearly responding to the inventory report," said Mike Fitzpatrick, vice president for energy risk management at FIMAT USA.

Hurricane Ivan last week thrashed through the Gulf of Mexico, home to a quarter of US oil and gas production, forcing oil companies to evacuate. As of Wednesday, Ivan was blamed for a cut to US oil production of 9.1 million barrels, according to the US Minerals Management Service.

Questions remained over how long it would take oil producers to restart their offshore operations, with some companies reporting structural damage to platforms and overall output still lagging at 66 percent of capacity.

BP (BP.L), which accounts for about 20 percent of Gulf of Mexico oil production, said on Tuesday it did not expect its output to recover fully for two or three weeks.

Heating oil futures, meanwhile, zoomed to a fresh record of US$1.3520 a gallon on the NYMEX before settling at US$1.3444, as the drawdown in crude stocks in the world's largest energy consumer triggered fears of a winter supply crunch, dealers said.

"Stocks last week, this week and probably continuing into next week will have been disorganized by the hurricanes and until we get a clear sign that inventories are building, the markets are going to be volatile," analyst Adam Sieminski of Deutsche Bank said.

Concerns about inadequate stocks were made worse by lingering worries about security of supply.

Russian oil major YUKOS, struggling to pay a US$3.4 billion tax bill, was forced to cut production Wednesday.

Its main subsidiary Yuganskneftegaz cut output by 35,000 barrels per day (bpd), or 2 percent of YUKOS's production, after a power firm switched off supplies for nonpayment, Interfax news agency reported.

However, pipeline monopoly Transneft said it believed YUKOS's exports to Europe were safe after it agreed to accept payment of export shipping fees in crude oil and not cash.

Adding to the uncertainty was continued violence in Iraq and attacks on its oil infrastructure, as well as rising tensions between Iran and the United Nations over Tehran's nuclear ambitions.

London Brent crude settled up US$1.54 to US$44.93 a barrel after matching a record high of US$45.15 a barrel.

US distillate stocks fell 1.5 million barrels to 126.8 million barrels, according to the EIA report, while gasoline supplies fell 2.8 million barrels to 199.7 million.



 
  Today's Top News     Top World News
 

World press praises China's orderly power transfer

 

   
 

China, Kyrgyzstan tap co-operation potential

 

   
 

Website posting: 2 Italian hostages slain

 

   
 

Student takes tuition trouble to court

 

   
 

China to succeed in macroeconomic control

 

   
 

China tops investment destinations

 

   
  UK hostage pleads for life on videotape
   
  Suicide attack kills 2 in Israel; 16 hurt
   
  US agrees to release terror suspect
   
  Haiti death toll passes 700 after storm
   
  FM spokesman: UN is not a "board of directors"
   
  US Fed raises rates for third time
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
Yukos called to honour oil commitments
   
Iraq oil official Iraq survives assassination
   
Between 30 and 50 killed in Nigerian pipeline blast
  News Talk  
  Are the Republicans exploiting the memory of 9/11?  
Advertisement
         
主站蜘蛛池模板: 日韩在线小视频 | 亚洲区一区二 | 亚洲一级免费视频 | 午夜精品视频在线观看 | 99热超碰 | 黄a视频| 欧美性生交xxxxx久久久 | 激情高潮到大叫狂喷水 | 欧美黄色网 | 亚洲无av在线中文字幕 | 国产精品手机在线观看 | 美女一级片 | 国产精品视频网站 | 亚洲欧美一区二区三区四区 | 精品视频一区二区三区四区 | 久久激情综合 | 国产伦精品一区二区三区视频我 | 三级黄色在线观看 | 黄色国产在线观看 | 亚洲第一色网 | 一区二区三区在线免费 | 免费av网站在线观看 | 黄色1级视频 | 国产成人精品亚洲男人的天堂 | 日本中文字幕网站 | 亚欧在线观看 | 亚洲精品免费在线 | 国产无遮挡| 欧美一级二级三级 | 日韩午夜精品 | www.4hu95.com四虎 丰满岳乱妇一区二区 | 久热在线视频 | 不卡在线视频 | 日日夜夜操操 | 一区二区三区视频在线 | 久久视频一区二区 | 视频在线观看一区 | 国产福利视频 | 婷婷久久五月 | 免费看片网站91 | 午夜在线观看免费视频 |