12072016Wed
Last update: Wed, 07 Dec 2016 07pm

Europe

Markets - Energy - Europe

Oil slip sends dollar, bond yields skidding LONDON: The dollar saw its biggest drop in almost a month on Monday as a bashing for oil prices on doubts about an OPEC output cut this week left investors reversing "Trumpflation" trades that have gripped markets since the U.S. election.Crude prices and Europe's main stock markets were down over 1 percent in early European trading as Italian shares also took a fresh tumble ahead of its referendum on constitutional change this Sunday.Oil's fall added to a 3.5 percent plunge on Friday when it emerged that Saudi Arabia would not join talks with non-OPEC producers on potential supply cuts.With oil so vital for global costs it was rapidly cooling bets on a near-term inflation jump and tempering expectations for rises in U.S. interest rates that have been running up fast in recent weeks.The dollar sank as much as 1.6 percent against the yen, going as low as 111.355 yen before ...

Markets - Energy - Europe

Oil prices gyrate as OPEC heavyweights head to Vienna LONDON: Oil prices edged higher on Monday, after falling as much as 2 percent in early trading, as the market grappled over the shaky prospect of major producers being able to agree output cuts at a meeting on Wednesday aimed at reining in global oversupply.Brent crude futures fell as far as 2 percent before clawing back to trade 29 cents at $47.44 per barrel at 1008 GMT.U.S. West Texas Intermediate (WTI) crude futures also recouped ...

Markets - Energy - Europe

Eni agrees to sell 10pc stake in Egypt concession to BP MILAN: Eni has agreed to sell a 10 percent stake in the Shorouk concession offshore Egypt to BP, the Italian oil and gas group said in a statement on Friday. The agreement envisages a payment of $375 million and the pro-quota reimbursement of past expenditures, which so far amount to around $150 million. Eni, which through its subsidiary IEOC holds a 100 percent stake in the block, said BP had the option to buy a ...

Markets - Energy - Europe

Russia poised to gain from oil production freeze MOSCOW: With its oil output at record levels and state coffers running low, Russia has little to lose and much to gain from agreeing a deal with the OPEC cartel on limiting production.Ahead of an OPEC meeting set for November 30 in Vienna, Moscow -- which is not a member of the Organization of the Petroleum Exporting Countries -- is pushing for an agreement to be finally reached after similar talks in Doha collapsed acrimoniously ...

Markets - Energy - Europe

North Sea Crude-Forties steady after gain this week LONDON: North Sea Forties crude differentials ended the week unchanged on Friday, after climbing earlier this week on the prospect of higher exports of December-loading crude to Asia. Copyright Reuters, 2016 ...