Storm threat fails to bolster oil price
Tuesday 28 August 2012
Related articles
Oil prices sank yesterday despite a looming hurricane in the Gulf of Mexico as traders bet that demand for crude would drop back as refineries were shut down to weather the storm.
In a volatile session, Brent crude gave up early gains to slip back to $112 a barrel, amid renewed speculation that the White House could also release stockpiles to bring down the high oil prices threatening economic recovery.
Tropical storm Issac is headed towards the US coast and likely to be upgraded to hurricane status today.
Waning hopes that Ben Bernanke, the Federal Reserve chairman, will signal more stimulus for the economy in his Jackson Hole address on Friday also hit crude. The Fed's last money-printing intervention in 2010 triggered a six-month rally in oil prices.
-
In pictures: Saturn images from Cassini probe as it prepares to turn lens towards Earth
-
Serena Williams apologises after comment that rape victim 'shouldn't have put herself in that position'
-
FBI finds possible human remains at former home of late gangster James Burke - the man who inspired Goodfellas
-
'Theres something quite unpleasant going on': Nigel Farage confronted for second time on visit to Scotland
-
World news in pictures
- 1 Bankers could face jail after report urges the Government to introduce new criminal offence for reckless management
- 2 Breaking the Silence: In the reality of occupation, there are no Palestinian civilians – only potential terrorists
- 3 Richard Nieuwenhuizen death: Six teenagers and 50-year-old father convicted of manslaughter in shocking case of referee killed over a game of football
- 4 Exclusive: Newcastle's star talent-spotter on brink as Joe Kinnear sparks walkout
- 5 Vast methane 'plumes' seen in Arctic ocean as sea ice retreats
How will you make today delicious?
Tell us how you plan to make today delicious and you could win a £50 M&S gift card.
Win a Nook® Simple Touch eReader
Find out how Nook® is supporting the Evening Standard's Get Reading campaign - and your chance to win one.
Free reading festival for families
Follow The Standard's campaign to get London's children reading - and experience this unique event at Trafalgar Square on 13 July.
Enter the latest Independent competitions
Win anything from gadgets to five-star holidays on our competitions and offers page.
Business videos from commercial thought leaders
Watch the best in the business world give their insights into the world of business.
iJobs Money & Business
FX Options Front Office Java / C# Developer
£500 - £600 per day: Orgtel: FX Options Front Office Java / C# Developer - Ba...
Project Manager - Front Office - Regulatory IT
£600 - £700 per day: Orgtel: Project Manager - Front Office - Regulatory IT C...
FATCA Project Manager
£600 - £750 per day: Orgtel: FATCA Project Manager - Banking - London - £600-...
Fidessa Analyst / PM - Banking - London - £600pd
£550 - £600 per day: Orgtel: Fidessa Analyst / PM - Banking - London - Up to £...
Day In a Page
Babies behind bars
Sonic youth: The high-pitched sound alarm
The art of living in small spaces
'Teaching bright children isn't rocket science'
Can technology lure us back to the high street?



Comments