05032016Tue
Last update: Tue, 03 May 2016 09pm

Markets - Energy

Markets - Energy - Asia

Nepal signs fuel agreement with China to ease crisis: official KATHMANDU: Nepal signed its first ever fuel agreement with China Wednesday for Beijing to supply petroleum to ease a crippling shortage, after protests blocked imports from sole supplier India, an official said."We have signed a MOU (memorandum of understanding) with China National United Oil Corporation to supply the petroleum products that Nepal needs," said Deepak Baral, spokesman at the state-run Nepal Oil Corporation.Copyright AFP (Agence France-Presse), 2015

Markets - Energy - Asia

Oil prices flat in Asia before supplies report, Fed decision SINGAPORE: Oil prices barely moved in Asia Wednesday as investors waited for a report on US crude inventories and the conclusion of a Federal Reserve policy meeting hoping for an idea about its plans for interest rates.Analysts expect the report by the US Energy Information Administration later Wednesday to show a rise in stockpiles for the week ending October 16.A build in the inventories is typically interpreted as a sign of softer demand in the ...

Markets - Energy - Europe

Oil dips as Saudi rules out intervention LONDON: Oil retreated after Saudi Arabia's influential oil minister said Tuesday it was up to the market to determine prices, effectively ruling out an intervention to prop them up.US benchmark West Texas Intermediate (WTI) for delivery in December dipped 60 cents to $43.38 per barrel compared with Monday's close.Brent North Sea crude for December delivery was down 29 cents at $47.25 per barrel in London midday deals."Prices are a function of supply and demand," Ali ...

Markets - Energy - Europe

Oil prices fall as glut worries worsen LONDON: Oil prices fell on Tuesday, extending losses into a third week, on worries over a supply glut and with U.S. inventory data expected to show another increase in crude stocks.Brent for December delivery had fallen 30 cents to $47.24 a barrel by 1150 GMT, after settling the previous session down 45 cents.U.S. crude dropped 55 cents to $43.43 a barrel, having touched a nine-week low of $43.20 earlier on Tuesday.An expected further build in ...

Markets - Energy - Asia

Oil prices retreat in Asia SINGAPORE: Oil prices extended losses in Asia Tuesday on expectations of a rise in US crude inventories and following forecasts that a global supply glut will persist into next year.The US Energy Information Administration (EIA) will release Wednesday its weekly report on the country's commercial crude inventories for the week ending October 23, which is seen as a gauge for demand in the world's top oil consuming nation. Analysts expect another build-up."Oil prices remain near ...

Markets - Energy - Asia

Shanghai, Hong Kong equities down by break HONG KONG: Shares in Shanghai slipped in morning trade Tuesday after ending the previous day at a two-month high, while Hong Kong was also lower ahead of a US central bank policy meeting.The benchmark Shanghai Composite Index lost 1.82 percent, or 62.25 points, to 3,367.33 by lunch, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, sank 2.20 percent, or 44.65 points, to 1,985.83.In Hong Kong the Hang Seng Index shed 0.81 ...

Markets - Energy - Americas

Oil prices extend losses as oversupply weighs NEW YORK: Crude prices extended last week's losses on Monday as the International Energy Agency warned of a further fall in oil investment.US benchmark West Texas Intermediate (WTI) for delivery in December fell 62 cents, or 1.4 percent, to $43.98 a barrel on the New York Mercantile Exchange.Brent North Sea crude for December delivery closed at $47.54 in London, down 45 cents (0.9 percent) from Friday's settlement.Last Friday, oil prices stretched losses into a second ...