United Airlines (UAL.N) has paid a premium to dump old losing bets on higher oil prices, and is reviewing its strategy for insulating itself from oil market volatility, in a sign of how some airlines' efforts to hedge their fuel costs have backfired.
Tags: Oil Prices
Brent price edges up on cautious optimism over Greek debt compromise
Oil prices edged up after early falls on Monday as parts of Asia returned from the Lunar New Year holiday, with Brent futures moving further away from $60 a barrel and U.S. contracts moving towards $51.
Oil picks up on hopes China's easing will spur demand
Oil prices rose on Thursday, rallying a little after big losses in the previous session, after China took steps to pour fresh liquidity into the world's second-biggest economy to spur activity.
Rosneft's 2015 budget based on $50 per barrel oil price - CEO
Russia's top oil producer Rosneft is basing its budget for this year on an average oil price of $50 per barrel, the company's Chief Executive Officer Igor Sechin said on Wednesday.
Oil up 11 percent after two-day rally; trade volatile on stock builds
Oil prices rose strongly again on Monday, tacking on a total of 11 percent over two straight sessions, as some investors bet that a bottom had formed to the seven-month long rout on the market even as others remained pessimistic.
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Global oil prices were little changed for a second straight day on Thursday after better-than-expected U.S. jobs data helped the market hold ground after a 10 percent loss earlier in the week.
Russia's rouble strengthened on Thursday as exporters sold foreign currency in response to government pressure and to meet tax payments, but trading volumes were thin as many Western markets were closed for the Christmas Day holidays.
The dollar rose on Friday after upbeat U.S. data suggested weaker oil prices are providing additional momentum for the American economy, which also underpinned Asian shares.
Stock markets recovered from their latest bout of oil and growth-related trauma on Tuesday, helped by promises from U.S. policymakers and the head of the IMF that lower fuel costs would boost the world economy.
Japan's annual core consumer inflation slowed for a third straight month in October due to falling oil prices, highlighting the economic gloom facing Premier Shinzo Abe as he campaigns for a new mandate to implement his stalled recovery plan.
Low oil prices that threaten producers' profits may be a boon in one way, as they force service companies to keep prices low for the drill bits, cement and piping for oil extraction, even if two of the largest providers of such products merge.
Unfazed by slumping oil prices and battering in the stock market, firms that supply sand and guar gum for shale oil and gas companies are not ready yet to call an end to a four-year boom spurred by hydraulic fracturing technology.
A report revealed in detail based on its records how China was able to acquire control of oil of countries Venezuela, Brazil, Angola, and now OPEC member Ecuador.
NBC reporter Michael O'Brien said the legacy of President Barack Obama would be on the line as he awaits Congressional approval on air strikes against Syria.
