doing fifo financially smart
HomeMining Industry News Oil prices dip

Oil prices dip

Friday 30th of December 2016 01:42:39 PM



For the second straight week US crude oil stocks have unexpectedly risen as shown in data from the US Energy Information Administration, gaining 614,000 barrels last week versus analysts’ forecasts of a decline of 2.1 million barrels.

At the Cushing, Oklahoma, delivery hub for U.S. crude futures, inventories rose 172,000 barrels, the EIA said.

U.S. crude futures settled 29 US cents, or 0.5 per cent, lower at $US53.77 a barrel while Brent crude fell 8 cents, or 0.1 per cent, to $US56.14 a barrel.

Traded volumes were thin, with many investors away for year-end holidays. Front month U.S. distillate and gasoline futures expire on Friday, which could add to price swings, analysts noted.



Read Full Story Here

Recent Related News

Y Fronts teaser banner MiningLink prefered resume writers Civil Link Banner
EOI Final Trim Grader Operator
We are currently seeking expressions of interests from experienced grader operators for tailings dam project in Boddington.

Supervisor Warehouse
Reporting to the Superintendent Warehousing, within the Warehousing & Inventory team this role is responsible for the operation of the Warehouse to provide materials to site customers safely

Kalgoorlie Technician Maintenance
Nickel West Kalgoorlie is seeking three (3) experienced Maintenance Technicians (Mechanical Fitter's) to join the MN20 Services Workshop Mechanical Maintenance team

Excavator Operator
The team at Stellar Workforce would like to hear from experienced coal mining Excavator Operators

Experienced Dump Truck Operator
The team at Stellar Workforce would like to hear from experienced Coal Mining Dump Truck & Loader Operators. You will be working with our highly reputable client based out of Dysart.

Union Calling On Large Companies To Offer More Apprenticeships
It is believed by the Australian Manufacturing Workers’ Union state official, Jason Lund, that unless major employers like mining companies offer more programs to train new workers for permanent ....

Tasmania's Henty Mine Pours Its First Bars Of Gold
The first gold has been poured at the Henty Gold mine on Tasmania’s west coast since it has returned to production. The mine returned to production last year when it was bought by ....

Deal Between Alcoa And AGL To Keep Portland Plant Operating
A generous new electricity supply deal with AGL has come through with Alcoa’s Portland aluminium smelter, ensuring the troubled plant is likely to stay open. Alcoa and AGL reached an agreement ....

WA Uranium Mine Gets Government Approval
Canadian mining company Cameco’s Yeelirrie uranium project in the Western Australia’s mid-west has been approved by the West Australian government. Last August the Environmental Protection ....

Petrol Prices Jump Due To Reduced Production In Crude Oil
Premium fuel prices have jumped to as high as 166.9 cents per litre in Mudgee due to a reduction in crude oil production. The cheapest price for unleaded in Mudgee according to the state ....