Saudi Arabia supplied less crude oil to the market in September than a month earlier, an industry source said on Thursday, at a time when some Opec members are calling on the top oil exporter to cut back output to lift prices.
Brent crude extended losses for a third day on Wednesday, slipping further away from $97 a barrel, as inflated supplies and weak economic data outweighed rising geopolitical tensions in the Middle East.
Downbeat European economic
Explorers are finding so little oil, many are retreating from high-risk frontier areas to safer bets like North American shale, executives at a major Norway oil conference said. This will likely force them to buy expensive discoveries once inv
Brent crude oil futures drifted lower on Friday, further below $103 a barrel, as a strong dollar and plentiful supplies continued to pressure prices.
October Brent crude was down 13 cents to $102.50 a barrel by 1122 GMT. US crude
Bahrain's national carrier, Gulf Air, could soon get a 30 per cent discount on fuel supplies.
The parliamentary co-ordination committee has endorsed a proposal in this regard submitted by MP Khalid Abdula
Brent crude fell towards $104 a barrel on Thursday to a fresh four month low as plentiful supplies and continued progress in talks between Iran and the West over Tehran's disputed nuclear programme weighed on prices.
Brent crude oil rose towards $110 per barrel on Tuesday, reaching a three month high, due to lower inventories, firm demand and concern that turmoil in Egypt could disrupt supply.
Brent crude gained 41 cents to $109.50 a barrel by
UK stocks of liquefied natural gas have swollen over the last week, data from National Grid shows, after three big Qatari deliveries helped replenish low heating fuel supplies during the coldest March in over half a century.
Brent crude rose above $123 on Monday after positive manufacturing data from China eased fears of a sharp economic slowdown in the world's second-largest oil consumer and continuing tension in the Middle East threatened crude supplies.