04302016Sat
Last update: Sat, 30 Apr 2016 08pm

Europe

Markets - Energy - Europe

Oil touches one-month low on scepticism over potential freeze deal LONDON: Oil held around its lowest in a month on Monday as investors ditched some of their bullish bets on another price rise and the chances that top exporters will agree to rein in overproduction appeared to fade.Iran will continue increasing oil production and exports until it reaches the market position it enjoyed before the imposition of sanctions, Oil Minister Bijan Zanganeh was quoted as saying by the semi-official Mehr news agency.Saudi Arabia, which spearheaded an initial proposal in February for producers to limit output, said last week that it would not join any effort to do so unless Iran were on board, while Russia reported its highest oil production in 30 years.This has cast doubt on the ability of the world's largest exporters to reach an when they meet in Doha this month to discuss how to align global supply and demand.Hedge funds last week cut their bullish holdings ...

Markets - Energy - Europe

Oil steadies on Saudi comments LONDON: World oil prices steadied Monday as Saudi Arabia cast doubt on whether a key producers meeting would reach an agreement to freeze output to address a global supply glut.Around 1100 GMT, US benchmark West Texas Intermediate (WTI) for delivery in May was down six cents at $36.73 a barrel.Brent North Sea crude for June delivery added just four cents to $38.71 a barrel compared with Monday's close.Hopes for a deal at the April 17 ...

Markets - Energy - Europe

Russian oil output highest in 30 years ahead of Doha meeting MOSCOW: Russia's oil production rose 0.3 percent to 10.91 million barrels per day in March, its highest level in nearly 30 years, raising questions over Moscow's commitment to freeze output ahead of a producers' meeting in Doha later in April.Energy Ministry data on Saturday showed that in tonnes, oil output reached 46.149 million in March versus 43.064 million, or 10.88 million bpd, in February.Leading oil producers, including Russia, are due to meet in Doha on ...

Markets - Energy - Europe

Oil falls as investors turn cool on production freeze deal LONDON: Oil hovered around one-month lows on Monday as investors ditched some of their bullish bets on another price rise and the chances that top exporters will agree to rein in overproduction appeared to fade.Iran will continue increasing oil production and exports until it reaches the market position it enjoyed before the imposition of sanctions, Oil Minister Bijan Zanganeh was quoted by the semi-official Mehr news agency as saying.Saudi Arabia, which spearheaded an initial proposal ...

Markets - Energy - Europe

Europe Gasoline/Naphtha-Gasoline cracks drop amid oil sell-off LONDON: Gasoline refining margins in northwest Europe slightly declined on Friday after sharp drops in crude oil and US gasoline futures. At least two long-range tankers have been booked in recent days to ship reformate from Europe to Asia after several days of no activity due to weaker demand from China, traders said. Tankers carrying around 1 million tonnes of gasoline have been booked from Europe to West Africa, according to Reuters shipping data, following ...