Wall St rises in volatile session before Fed meeting
2013-06-17 23:02:50 GMT : (Markets - Energy/Americas)
NEW YORK: US stocks rose on Monday but ended well off their highs as investors speculated over the Federal Reserve's intentions about its massive stimulus program to aid the economy before a meeting of policymakers that begins on Tuesday.Major indexes climbed from the start of the session and were more than 1 percent higher for much of the day, recovering all of last week's losses, on the ...
Oil prices rise after mixed US supplies report
2013-06-12 21:03:13 GMT : (Markets - Energy/Americas)
NEW YORK: Global oil prices rose Wednesday, after a mixed US supplies report and a weaker dollar.West Texas Intermediate light sweet crude for July closed at $95.88 a barrel on the New York Mercantile Exchange (NYMEX), up 50 cents from Tuesday.In London trade, Brent North Sea crude for delivery in July added 53 cents to settle at $103.49 a barrel."We had some support coming from a weaker dollar," ...
Oil pares losses despite fears of central bank tightening
2013-06-11 22:36:09 GMT : (Markets - Energy/Americas)
NEW YORK: Brent crude oil prices retraced earlier steep losses on Tuesday as investors worried that central banks, following Japan's example, could begin to rein in their loose monetary policies.Oil joined equity markets, the dollar, bond prices and other commodities, such as gold and copper, in an investor pullback sparked by the Bank of Japan's decision not to follow up its $1.4 trillion...
Oil prices slip after OPEC lowers demand outlook
2013-06-11 20:32:31 GMT : (Markets - Energy/Americas)
NEW YORK: Oil prices fell Tuesday after OPEC slightly lowered its 2013 global demand outlook and reported the cartel increased output in May.New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in July, closed at $95.38 a barrel, down 39 cents from Monday.In London trade, Brent North Sea crude for delivery in July, the European benchmark contract, shed 99 cent...
Oil prices drop on China demand concerns
2013-06-10 23:05:58 GMT : (Markets - Energy/Americas)
NEW YORK: Oil prices dropped Monday amid renewed concerns about China's appetite for crude oil after a batch of disappointing Chinese economic data.New York's main contract, West Texas Intermediate for July, closed at $95.77 a barrel, down 26 cents from Friday.In London trade, Brent North Sea crude for delivery in July fell 61 cents to settle at $103.95 a barrel.China over the weekend publ...
Nuclear plant shutdown to increase reliance on natural gas
2013-06-09 11:37:03 GMT : (Markets - Energy/Americas)
NEW YORK: California's growing reliance on natural gas to fuel its power plants will increase and power prices will remain elevated following Southern California Edison's decision to retire a crippled nuclear power plant.Both reactors at the 2,150-megawatt (MW) San Onofre plant will be permanently closed due to uncertainty over the cost and timing of restarting one of the units, said SCE, ...
E.ON nails gas supply contract in Canada
2013-06-04 06:47:23 GMT : (Markets - Energy/Americas)
FRANKFURT: E.ON, Germany's biggest power supplier, said Monday it has secured a long-term deal to import liquified natural gas (LNG) from Pieridae Energy in Canada.Under the agreement, Pieridae will deliver approximately 5 million tonnes per annum (MTPA) of LNG to E.ON for 20 years into a number of locations in Western Europe, the two sides said in a statement."We are pleased to have reached a...
Oil prices rebound after slump last week
2013-06-03 23:05:31 GMT : (Markets - Energy/Americas)
NEW YORK: Oil prices rebounded on Monday following sharp losses before the weekend as Iraq's top energy official told AFP that the country wants to tighten production amid sagging global demand forecasts.Prices also tracked the dollar's weakening against the euro, which came after the ISM purchasing managers index for the US manufacturing sector in May took an unexpected turn into contract...
US natgas futures seesaw, Northeast heat to limit losses
2013-05-31 16:05:17 GMT : (Markets - Energy/Americas)
NEW YORK: US natural gas futures prices seesawed on either side of unchanged territory early Friday, with near-term heat blanketing consuming regions in the Northeast expected to limit more losses.Traders said the first real stretch of above-normal temperatures in the Northeast this spring has spurred early season cooling demand and served as a reminder that summer weather would arrive soon.As of ...
New York oil rises despite record US supplies
2013-05-30 21:54:48 GMT : (Markets - Energy/Americas)
NEW YORK: Oil prices rallied in New York Thursday despite US stockpiles hitting a fresh all-time high, while Brent slipped.New York's main contract, West Texas Intermediate (WTI) light sweet crude for July, closed at $93.61 a barrel, up 48 cents from Wednesday.Brent North Sea crude for delivery in July dropped $1.80 to $102.43 a barrel in London trade.The New York benchmark contract, which div...
US natgas futures post losses for fourth day
2013-05-30 21:01:11 GMT : (Markets - Energy/Americas)
NEW YORK: US natural gas futures were lower for the fourth straight session on Thursday, tumbling nearly 4 percent on the day and nearly 6 percent this week, as forecasts for milder weather and slack nuclear plant outages weighed on sentiment.Neutral weekly inventory data also did little to impede declines, traders said."From a fundamental perspective there is less nuclear outages compared to both...
Crude oil ends mixed, swayed by views on economy and Fed
2013-05-30 20:59:29 GMT : (Markets - Energy/Americas)
NEW YORK: Crude oil futures ended mixed on Thursday, with Brent falling on a weak global economic outlook and US crude lifted by optimism about the Federal Reserve's stimulus program.US crude oil futures prices rose as investors interpreted weak US economic data to mean the Fed may continue with its monetary easing policy, which would keep interest rates low and money cheap.Both were driven hi...
Iraq hints OPEC to stabilise output
2013-05-30 16:51:28 GMT : (Markets - Energy/Americas)
VIENNA: Iraq indicated Thursday that OPEC should maintain its oil production ceiling at this week's output meeting in Vienna, arguing it was wary of damaging the fragile global economy by cutting output which would raise crude prices."In general, OPEC targets -- in making the market well supplied -- are met these days and we do not want to cause a shock to the market which will affect the glob...
Canada producer price index down for first time in 5 months
2013-05-30 13:01:35 GMT : (Markets - Energy/Americas)
OTTAWA: Canadian producer prices dropped for the first time in five months in April, slipping 0.8 percent from March on lower prices for petroleum and coal products, Statistics Canada said on Thursday.The decline, which matched the decline recorded in December 2011, was greater than the 0.3 percent drop forecast by market analysts. Of the 21 major commodity groups, 14 were down, three up, while fo...
US June natgas futures expire down less than 1 pc
2013-05-29 21:24:53 GMT : (Markets - Energy/Americas)
NEW YORK: US natural gas futures slid less than 1 percent on Wednesday, extending losses for the third straight session as the June contract expired."Natural gas has extended its recent decline, with long liquidation out of the expiring June futures contract still playing a role," said Citi Futures energy analyst Tim Evans.While above-normal temperatures remained on tap for most of the nation for ...
Oil markets pulled lower by Wall Street's tumble
2013-05-29 21:23:44 GMT : (Markets - Energy/Americas)
NEW YORK: Oil futures lost nearly 2 percent on Wednesday, in part due to losses in US equity markets on worries the Federal Reserve could phase out its stimulus program.US equity markets fell broadly on Wednesday, at one point losing more than 1 percent, in a sharp retreat from recent record levels. The drop followed a sudden move in US Treasuries on expectations that the Fed will begin to pare it...
Oil drops on Fed fears, mine restart pressures copper
2013-05-29 21:23:15 GMT : (Markets - Energy/Americas)
NEW YORK: Oil prices slid their most in a month on Wednesday, falling with Wall Street stocks on worries the Federal Reserve could phase out its stimulus, while copper came under pressure from the imminent restart of the second-largest mine for the metal.Soybeans fell, cutting short the previous session's rally, on news that top buyer China had canceled a large order for US soy.Gold ticked hig...
Oil prices tank after growth downgrades
2013-05-29 20:45:20 GMT : (Markets - Energy/Americas)
NEW YORK: Oil prices tanked Wednesday after 2013 growth forecasts were cut for the global economy and for China, stoking concerns about energy demand.New York's main contract, West Texas Intermediate light sweet crude for July, closed at $93.13 a barrel, down a hefty $1.88 from Tuesday.Brent North Sea crude for delivery in July dropped $1.80 to $102.43 a barrel in London trade.Sentiment took a...
Oil rises more than $1 on equities, Middle East tension
2013-05-28 23:05:19 GMT : (Markets - Energy/Americas)
NEW YORK: Brent crude gained more than $1 on Tuesday as US consumer optimism and signs of easier monetary policy from central banks pushed stock markets higher, while increasing Middle East tension also supported oil.Brent crude oil posted its biggest one-day rise since early May, settling up more than 1.5 percent.US stocks rallied after central banks reassured investors that they will keep polici...
Oil prices rise on upbeat US economic data
2013-05-28 21:44:05 GMT : (Markets - Energy/Americas)
NEW YORK: Global oil prices rallied Tuesday, supported by data showing an encouraging surge in US consumer confidence and home prices as markets reopened after a long holiday weekend.New York's main contract, West Texas Intermediate light sweet crude for July delivery, closed at $95.01 a barrel, up 86 cents from Friday.In London trade, Brent North Sea crude for delivery in July jumped to $104....