05072016Sat
Last update: Sat, 07 May 2016 05am

Europe

Markets - Energy - Europe

Oil plummets on Doha failure LONDON: Oil plunged Monday a day after top producers failed to reach a deal in Doha to cap output, fanning fresh fears over a supply glut that has plagued the market.Prices had rebounded last week on hopes the OPEC exporters' club and other major players, including Russia, would agree to freeze output levels at Sunday's meeting.However, discussions in the Qatari capital floundered and a deal to curb abundant global oil supplies failed to materialise, sending the market reeling once again.At around 1045 GMT, US benchmark West Texas Intermediate for delivery in May sank $1.13 to $39.23 per barrel. Brent crude for June delivery lost $1.23 to $41.87.The Doha failure "has raised the fear that the current glut and oversupply issue is never going to be solved", GKFX analyst James Hughes told AFP."It has also brought into question the relevance of the OPEC cartel, if the most powerful voice in the ...

Markets - Energy - Europe

Oil price impact on Bunds short-lived as low yields scare investors LONDON: The impact of tumbling oil prices on German Bunds proved to be temporary on Monday as investors were reluctant to push yields lower so close to the anniversary of one of the biggest sell-offs in the European benchmark.Ten-year Bund yields fell as low as 0.119 percent after the market opened, but quickly bounced back above 0.14 percent even as oil prices were down 5 percent after a meeting by major exporters in Qatar that ...

Markets - Energy - Europe

Oil falls further on rising US stockpiles LONDON: Oil prices extended losses Thursday after a rise in US commercial crude reserves, while traders turned cautious before this weekend's crunch producers' meeting.A warning by the Organization of the Petroleum Exporting Countries that the world remains oversupplied also dampened sentiment as key producer nations prepared to gather in Doha for Sunday's talks on freezing output.At about 1030 GMT, US benchmark West Texas Intermediate (WTI) for delivery in May was down nine cents at $41.67 ...

Markets - Energy - Europe

Oil edges up on dollar retreat after mixed IEA report LONDON: Oil rose slightly on Thursday after the International Energy Agency (IEA) trimmed its forecast for demand growth but said a fall in oil output in the United States was speeding up.Oil rose after data showed consumer prices rising less than expected, pushing the dollar lower. A weaker dollar supports oil, making it more affordable to holders of other currencies.Brent crude futures were up 15 cents from their last close at $44.33 a barrel by ...

Markets - Energy - Europe

Oil steady in choppy market ahead of output freeze meeting LONDON: Oil steadied at around $44 per barrel on Thursday after the International Energy Agency (IEA) trimmed its forecast for demand growth but said a fall in oil output in the United States was speeding up.Brent crude futures were up 12 cents from their last close at $44.30 a barrel by 1138 GMT. U.S. crude was up 4 cents at $41.80 a barrel.The IEA trimmed its estimates for 2016 global demand growth from last month ...