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Oil edges up from more than 2-year low, glut caps gains LONDON: Oil edged up from a more than two-year low to near $95 a barrel on Wednesday as a slightly better-than-expected Chinese factory survey countered worries of an economic slowdown in the world's No. 2 oil consumer and ample supplies.Growth in China's manufacturing sector held up in September but remained subdued. The Purchasing Managers' Index (PMI) came in at 51.1, just ahead of forecasts for a 51.0 reading and offering some relief to investors worried about slowing growth.Concern over increasing OPEC oil supply, weak European and Chinese growth and a stronger dollar pushed global benchmark Brent to its lowest since June 2012 on Tuesday, and the same factors are likely to keep a lid on any price recovery."The sentiment remains overwhelmingly bearish at the moment: there is little support for demand, while supply is strengthening," Carsten Fritsch, a commodities analyst at Commerzbank, said.Brent crude was up 26 cents at $94.93 ...
Oil rises from more than 2-year low, glut caps gains LONDON: Oil rose from a more than two-year low to over $95 a barrel on Wednesday as a slightly better-than-expected Chinese factory survey countered worries of an economic slowdown in the world's No. 2 oil consumer and ample supplies.Growth in China's manufacturing sector held up in September but remained subdued. The Purchasing Managers' Index (PMI) came in at 51.1, just ahead of forecasts for a 51.0 reading and offering some relief to investors worried about ...
Oil prices turn higher LONDON: Global oil prices gained ground Tuesday on expectations of upbeat economic data from the United States, the world's biggest economy and largest consumer of crude.Brent North Sea crude for delivery in November rose 32 cents to stand at $97.51 a barrel in early afternoon deals in London.US benchmark West Texas Intermediate for November added 19 cents to $94.76 a barrel."Market participants will be keeping an eye on the release of the Chicago PMI (manufacturing) ...
Oil slips below $97, hit by dollar strength LONDON: Brent oil slipped below $97 a barrel on Tuesday, hit by dollar strength and ample supply, and was heading for its deepest quarterly drop in more than two years.The dollar surged to a four-year high against a basket of currencies and a two-year high against the euro, making oil more expensive for holders of other currencies.Brent for November delivery was down 33 cents at $96.87 per barrel by 1403 GMT. It has lost nearly ...
UK gas prices rise as nearby demand outpaces supply LONDON: Prompt natural gas prices in Britain rose early on Tuesday as demand narrowly outstripped expected supply with a slight fall in Norwegian flows.Winter prices, however, were weaker, as hopes of a possible agreement between Russia and Ukraine in their dispute over gas supplies weighed on the market.Gas prices for delivery within the day were trading at 51.30 pence per therm at 0935 GMT, up 1.05 pence since their last close, and prices for delivery ...

 





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