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Oil prices rally from recent losses LONDON: Oil prices rebounded on Wednesday from the previous day's multi-month lows, as dealers awaited the latest update on crude reserves in top consumer the United States.Gains were capped however by investor caution ahead of the release of minutes from the US Federal Reserve's July monetary policy meeting.In midday deals, Brent North Sea crude for October delivery advanced 40 cents to $101.96 a barrel, one day after hitting a 14-month low on easing geopolitical tensions.New York's West Texas Intermediate (WTI) for delivery in September jumped $1.44 to $95.92.The WTI price had struck a seven-month low Tuesday as speculative traders also sold off ahead of the expiry of the September contract later on Wednesday.The US government's Department of Energy is meanwhile due at 1430 GMT to publish its weekly inventories update for the week ending August 15.American crude oil stockpiles are forecast to have fallen by 900,000 barrels, according to analysts ...
US crude jumps on expiry, Brent rebounds off 14-month low LONDON: US crude oil jumped by more than $1 a barrel ahead of the September contract's expiry on Wednesday, while Brent bounced off a 14-month low to reach $102 as traders bet a 12 percent slide since June was overdone.U.S. crude oil, also known as West Texas Intermediate or WTI, has been pressured by growing supplies of light-sweet oil from the North American shale boom, hitting a 7-month low of $94.26 on Tuesday.But WTI for ...
UK gas prices drop on supply increases LONDON: Natural gas prices in Britain dropped on Wednesday as fresh LNG supply loomed and imports from the Netherlands were higher than expected, traders said.Day-ahead prices fell 2.6 percent to 41.50 pence/therm, while the front-month and winter 2014 contracts lost 2.2 percent and 1.5 percent respectively."BBL flows are nominated at 5 mcm (million cubic metres) but have been very active this morning, delivering around 16 mcm/day," analysts at Thomson Reuters Point Carbon wrote, referring to ...
US crude oil rises on expiry, EIA stock draw LONDON: US crude oil rose by more than $1 a barrel ahead of the September contract's expiry on Wednesday and as crude stocks in the United States posted a sharp fall, while Brent bounced off a 14-month low to reach $102.The U.S. Energy Information Administration said U.S. crude stocks fell by 4.5 million barrels last week, a much larger fall than anticipated, though stocks in the U.S. crude oil delivery hub of Cushing, Oklahoma, rose ...
Brent crude oil rebounds off 14-month low towards $102 LONDON: Brent crude oil edged higher towards $102 a barrel on Wednesday, after slumping to a 14-month low in the previous session, as growing output from Iraq and Libya despite violence in those countries has kept the market well supplied.The international oil benchmark has fallen more than 12 percent since hitting a year-high of $115.71 in June. The surge of radical Islamist militants in Iraq that first rattled oil markets has yet to significantly cut ...

 





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