Markets - Energy
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NEW YORK: US stocks rose on Monday but ended well off their highs as investors speculated over the Federal Reserve's intentions about its massive stimulus program to aid the economy before a meeting of policymakers that begins on Tuesday.Major indexes climbed from the start of the session and were more than 1 percent higher for much of the day, recovering all of last week's losses, on the view that the Fed would reaffirm its policies of supporting the economic recovery at the end of a two day meeting that starts on Tuesday.However, the Financial Times reported the Fed was likely to signal that a move to reduce the program was close."We're held hostage in front of comments about what the direction for stimulus is, and the market is always more volatile when it is in front of the information flow," said Dan Veru, who helps oversee $3.8 billion as chief ...
LONDON: The price of New York's main oil benchmark hit a nine-month peak on Monday, as traders worried that the Syria crisis could hit supplies from the crude-rich Middle East, analysts said.Syria is expected to top the agenda at the Group of Eight (G8) meeting of world leaders taking place Monday in Northern Ireland.New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in August, reached $98.67 a barrel, a level last ...
JAKARTA:Indonesia's parliament debated measures on Monday to open the way for a jump in fuel prices after months of delay that have undermined confidence in the government and the ability of Southeast Asia's biggest economy to continue rapid growth.The price hike of 33 percent would allow the government to cut costly fuel subsidies and could give support to the struggling rupiah after the central bank scrambled last week to prop up the currency, which was ...
TRIPOLI: Libya's oil output has climbed to 1.3 million barrels per day from less than 1 million bpd last week as operations normalise following several disruptions due to protests at fields and ports, a senior Libyan industry source said."Production was 1.3 million bpd yesterday," the source said on Monday, "Things have started to stabilise."Libya normally produces around 1.6 million bpd but state oil company National Oil Corporation (NOC) said output had fallen last week below ...
LONDON: Brent crude oil steadied above $106 per barrel on Monday as a superpower standoff over the Syrian civil war intensified, raising the risk of conflict spilling into the Middle East oil producing region.But worries over bulging inventories and soft global demand forecasts offset supply concerns.The election on Friday of a moderate as Iranian president also tempered market worries.Investors waited to see if Iran's Hassan Rohani, who defeated hardline rivals in Iran's presidential election, would ...
SINGAPORE: Oil prices eased in Asian trading hours Monday as investors took profits following last week's rally triggered by concerns over rising tensions in the Middle East, analysts said.New York's main contract, light sweet crude for delivery in July, dropped 19 cents to $97.66 a barrel while Brent North Sea crude for August delivery shed 10 cents to $105.83 in morning trade."Markets are close to a resistance level after last week's surge, and the feeling ...More Articles...
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