09282016Wed
Last update: Wed, 28 Sep 2016 10am

Europe

Markets - Energy - Europe

Oil prices rebound LONDON: Oil prices rebounded Thursday after tanking the previous day but gains were capped by US stockpiles data and the prospect of rising output in Libya and Nigeria, dealers said.At about 1615 GMT, US benchmark West Texas Intermediate for delivery in October was up 53 cents at $44.11 per barrel.Brent North Sea crude for November delivery won $1.06 to $46.91 compared with the close on Wednesday.The market had tumbled Wednesday after the US Energy Information Administration (EIA) said gasoline and distilled products inventories rose last week, overshadowing news of a surprise fall in crude supplies.Libya's National Oil Corporation, meanwhile, said it would double production within four weeks after it was handed control of crucial ports that had been seized by forces loyal to the country's rival administration.The news from Libya -- which has Africa's largest oil reserves -- fanned long-standing worries about a global supply glut and overproduction that have ...

Markets - Energy - Europe

Oil prices rebound LONDON: Oil prices rebounded slightly Thursday after tanking the previous day, but gains were capped by US stockpiles data and the prospect of rising output in Libya and Nigeria, dealers said.At about 1015 GMT, US benchmark West Texas Intermediate for delivery in October was up 20 cents at $43.78 a barrel.Brent North Sea crude for November delivery won 32 cents to $46.17 compared with the close on Wednesday.The market had tumbled Wednesday after the US ...

Markets - Energy - Europe

Russian oil output seen at up to 547mn T in 2016: sources MOSCOW: Russia's oil output, the world's largest, is expected to rise this year by 2.2 percent, above expectations, to reach almost a 30-year high of 546-547 million tonnes, two sources close to the Energy Ministry said on Monday."It will be 546-547 million tonnes this year: companies are actively drilling and Lukoil is launching new fields," one source said.Another source confirmed the new expectations.The Energy Ministry, which earlier forecast output at 542-544 million tonnes, did not ...

Markets - Energy - Europe

Oil falls as US drills more LONDON: Oil fell for a second trading day in a row on Monday, after speculators cut their bullish bets by the most in three months last week and U.S. crude drillers added more rigs for a tenth week running.Brent crude oil futures fell 53 cents on the day to $47.48 a barrel, by 0830 GMT, while U.S. West Texas Intermediate futures fell 66 cents to $45.22 a barrel.Traders said the price falls on Monday and ...

Markets - Energy - Europe

Oil prices rise over week despite late slide LONDON: Oil prices rose over the week thanks to a slump in US crude stockpiles, a softer dollar and hopes of a OPEC-Russia deal to tackle a supply glut.But they fell heavily Friday on profit-taking, losing nearly all of the previous session's sizeable gains.Both main contracts had soared more than two dollars Thursday and Brent briefly went above $50 a barrel after the US Department of Energy said the country's commercial crude inventories slumped by ...