05022016Mon
Last update: Mon, 02 May 2016 08am

Europe

Markets - Energy - Europe

Oil prices hit one-month lows LONDON: Oil prices fell Tuesday, hitting one-month lows before recovering slightly, as hopes fade of producers reaching an agreement on curbing excess output levels.Brent North Sea crude dropped to $37.27 a barrel and US benchmark West Texas Intermediate struck $35.24 a barrel -- the lowest points for four weeks.Around 1130 GMT, Brent North Sea crude for delivery in June was down 12 cents to $37.57 a barrel compared with Monday's close.West Texas Intermediate for delivery in May dipped 11 cents to $35.59 a barrel.After breaking above $40 in March on expectations that upcoming Russia-Saudi Arabia-led talks would result in producers agreeing to limit oil output in the face of a global supply glut, the commodity has tumbled in recent weeks.The April 17 Doha meeting aims to agree to cap output at January 2016 levels, but analysts say only a sizeable production cut can lead to a sustained recovery in prices.Oil ...

Markets - Energy - Europe

Oil slips to one-month low on unexpected US demand drop LONDON: Oil slipped to a one-month low on Tuesday after a surprise fall in gasoline demand in the United States, the world's largest oil consumer, and on doubts whether oil producers can agree an output freeze to dampen a global supply glut.U.S. gasoline demand, one of the strongest pillars supporting oil consumption, fell in January for the first time in 14 months, U.S. Energy Information Administration data showed.The world's largest oil producers are due to ...

Markets - Energy - Europe

Shell pulls out of Arctic-focused exploration oil licensing round in Norway OSLO: Oil major Royal Dutch Shell has pulled its application from Norway's Arctic-focused oil licensing round, the firm said on Monday, in a blow to the Nordic country's ambitions to explore for oil and gas in its northern offshore areas. "The decision is part of an optimisation of Shell's global portfolio following the acquisition of BG and a persistently low oil price," the company's Norwegian unit said in a statement. "Norway remains one of our ...

Markets - Energy - Europe

Oil near one-month low on unexpected US demand drop LONDON: Oil traded near one-month lows on Tuesday after a surprise fall in gasoline demand in the United States, the world's largest oil consumer, and on doubts whether oil producers can agree an output freeze to dampen a global supply glut.U.S. gasoline demand, one of the strongest pillars supporting oil consumption, fell in January for the first time in 14 months, U.S. Energy Information Administration data showed.The world's largest oil producers are due to meet ...

Markets - Energy - Europe

Europe Distillates-Diesel cracks slide to three-month lows LONDON: Benchmark diesel refining margins in northwest Europe fell to their lowest since late January as imports into the region were seen rising. Tankers carrying around 1 million tonnes of diesel have been booked to load in April from the US Gulf Coast to northwest Europe and the Mediterranean, according to shipping data. At least 600,000 tonnes of diesel have been booked from the Middle East and India to load in April. Inland demand remained ...