05302016Mon
Last update: Mon, 30 May 2016 08am

Europe

Markets - Energy - Europe

Oil prices begin week with 2016 highs LONDON: Oil prices hit new 2016 highs Monday, as a slowdown in US drilling added to growing expectations the global supply glut will gradually disappear.Brent North Sea crude reached $48.90 a barrel and US benchmark West Texas Intermediate (WTI) achieved $47.19 -- the highest levels since early November.Later around 1030 GMT, WTI for delivery in June stood at $47.05, up 84 cents compared with Friday's close.Brent for July jumped 93 cents to $48.76.US oilfield services firm Baker Hughes said that the number of US drilling rigs fell to its lowest level since October 2009, handing a further boost to prices.Crude futures had already rallied last week after advisory-group the International Energy Agency said the world oil supply glut could ease in the second half of this year, and as the OPEC oil producers said the oversupply "may be easing" on reduced output by its members.EY oil and gas analyst Sanjeev ...

Markets - Energy - Europe

Oil prices rise on Nigeria outages, Goldman forecast LONDON: Oil prices jumped over 2 percent on Monday to their highest since November 2015 on growing Nigerian oil output disruptions and after long-time bear Goldman Sachs said the market had ended almost two years of oversupply and flipped to a deficit.Brent crude futures were trading at $48.83 per barrel at 1118 GMT, up $1 or 2.05 percent. U.S. crude futures were up 98 cents, or 2.08 percent, at $47.19 a barrel.Supply disruptions around the ...

Markets - Energy - Europe

Oil falls as dollar strengthens but traders eye Nigerian outages LONDON: Oil prices ended a three-day bull run on Friday, falling as a strong dollar weighed and investors cashed in on recent gains, though losses were cushioned by outages in Nigeria that have slashed output there to the lowest in 22 years. The dollar hit a two-week high against a basket of currencies, lifted by expectations the US Federal Reserve will raise rates again before any other major central bank. The strong US currency weighed ...

Markets - Energy - Europe

GLOBAL LNG-Prices tick higher as supplies tighten MILAN/LONDON: Asian liquefied natural gas (LNG) prices firmed this week as supply growth from new and existing producers continued to frustrate expectations. Traders said that liquidity was thin in Asia this week with prices for June delivery at $4.65 per million British thermal units (mmBtu), compared with $4.55 per mmBtu last week. Spot LNG prices for July delivery were seen at similar levels. "Some buyers in Asia may be willing to pay a premium to ...

Markets - Energy - Europe

Oil price falls from 2016 high LONDON: Oil prices fell Thursday on profit-taking, after New York crude reached the highest level this year on signs that the global supply glut was easing.In early trading, New York's benchmark contract reached $47.02 a barrel -- a highest point since early November.Later around 1630 GMT and after traders booked profits, New York's West Texas Intermediate for delivery in June stood at $45.98 a barrel, down 25 cents compared with Wednesday's close.Brent North Sea crude ...