Markets - Energy
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LONDON/WASHINGTON: A European probe into possible oil price manipulation expanded with the investigation of a small niche trading house in the Netherlands, while a key US senator on Friday called for the Justice Department to join the investigation.Dutch trading house Argos Energies, a mid-sized trading company that deals in physical oil products and owns storage facilities, was visited by inspectors from the European Commission on Tuesday, a source familiar with the investigation said on Friday.The visit occurred on the same day that authorities raided the London bureau of pricing agency Platts, and the offices of Statoil, Royal Dutch Shell and BP in the biggest cross-border action since the probe into rigging of Libor benchmark interest rates.Copyright Reuters, 2013
NEW YORK: US natural gas futures ended up sharply on Friday, backed by a late flood of buying ahead of the weekend despite fairly neutral weather forecasts that are not likely to stir up much demand.Gas prices sold off sharply on Thursday, sinking more than 3 percent after a bearish weekly inventory report.Chart traders said technical buying may have propped up prices on Friday, noting futures seem to have found a bottom after testing and ...
NEW YORK: World oil prices rose for the third day in a row Friday after a better-than-expected reading on US consumer confidence boosted hopes for stronger energy demand in the top global economy.The US benchmark contract, West Texas Intermediate for June delivery, rose 86 cents from Thursday to close at $96.02 a barrel.Brent North Sea crude for delivery in July also rose 86 cents, settling at $104.64 a barrel in London.A run of mixed US ...
LONDON: World oil prices rose further on Friday on talk of a potential scaling back of US stimulus measures and despite a stronger dollar making crude more expensive for holders of rival currencies, analysts said.Brent North Sea crude for delivery in July grew 69 cents to $104.47 a barrel in London midday deals.New York's main contract, light sweet crude for June, climbed 48 cents to $95.64 a barrel."Crude oil prices extended gains on Friday after ...
SINGAPORE: Oil prices eased in Asia on Friday as poor housing and employment data from the United States sparked concerns of weaker crude demand in the world's biggest economy, analysts said.New York's main contract, light sweet crude for delivery in June, dropped 14 cents to $95.02 a barrel and Brent North Sea crude for July delivery shed 15 cents to $103.63 in mid-morning trade."The market has taken fright at those worse-than-expected numbers," David Lennox, resource ...
NEW YORK: Oil prices climbed Thursday despite largely disappointing US data in the world's biggest economy.New York's main contract, West Texas Intermediate for June delivery, closed at $95.16 a barrel, up 92 cents from Wednesday.The European benchmark, Brent North Sea crude for delivery in June, edged up 12 cents to $103.80 a barrel in its final day of trade in London."On the data front, there was no shortage of disappointing news today, although much of ...More Articles...
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