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Brent rises above $64 after Yemen oilfield retreat LONDON: Oil prices repaired early losses to rally above $64 on Friday due to the conflict in Yemen. Brent crude was within sight of its 2015 high reached on Thursday and has rallied 16 percent in April, supported by Yemen and the prospect that lower prices are starting to curb US shale output.At 1509 GMT, Brent crude for June was up 25 cents at $64.23 a barrel. It hit a 2015 high of $64.95 on Thursday. US crude for May was down 9 cents at $56.62 a barrel. Military units protecting Yemen's Masila oilfields, the country's largest, withdrew on Friday and handed over security responsibilities to armed local tribes, in a sign of the weakening grip of the Yemeni state over its land and resources. While Yemen is not a major oil producer, the conflict raises concern about risks to supply from major exporters in the region such as its ...
Global LNG: Steady flow of supply caps market upside LONDON: Asian spot liquefied natural gas (LNG) prices for May delivery were steady this week as a smattering of fresh supply and demand was not enough to give the market clear direction. The price of Asian spot cargoes held steady at $7.10 per million British thermal units (mmBtu), in line with the previous week. "It's been fairly static," a trader said, adding that there had been limited activity over the week. South Korea, the world's ...
Oil market jumps on hopes of easing global supply glut LONDON: World oil prices shot higher Wednesday on forecasts that US shale production would likely drop and help ease a global supply glut, analysts said.US benchmark West Texas Intermediate for delivery in May rallied to a two-month peak at $54.25 per barrel, before pulling back to $53.89, up 60 cents from Tuesday's close.Brent North Sea crude for May hit a three-week high at $59.63 a barrel. It later stood at $59.16 in midday deals, up ...
Oil market slides before weekend LONDON: World oil prices dropped Friday as investors locked in profits following a six-day rally, with a rise in OPEC's output in March also adding to downward pressure, analysts said.Brent North Sea crude for June delivery fell 38 cents to $63.60 per barrel in midday London deals.US benchmark West Texas Intermediate for delivery in May sank 42 cents to $56.68 a barrel."After a sustained increase in both the WTI and Brent over the past week, ...
Oil above $59 on Middle East, US output, but IEA report caps gains LONDON: Brent crude oil prices rose above $59 a barrel on Wednesday amid tension in the Middle East and signs of a dip in U.S. production, but gains were capped by a report from the International Energy Agency (IEA) indicating that supplies would take longer to tighten than previously expected.Front-month Brent crude futures were up 68 cents at $59.11 per barrel by 0903 GMT, while U.S. crude futures were up 70 cents to $53.99.Prices were ...

 





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