07262016Tue
Last update: Tue, 26 Jul 2016 07pm

Markets - Energy

Markets - Energy - Europe

Oil market recedes with rate calls in view LONDON: Oil prices retreated Thursday as caution prevailed before central bank policy meetings in Europe and Japan.At 1130 GMT, Brent North Sea crude for delivery in September declined 19 cents at $46.98 a barrel.US benchmark West Texas Intermediate (WTI) for the same month nudged nine cents lower to $45.66 compared with Wednesday's close.Crude futures had rebounded Wednesday from two-month lows as markets reacted to a drop in US commercial crude inventories.The government's Department of Energy (DoE) reported that crude stockpiles fell by 2.3 million barrels last week.That was the ninth successive weekly drop and offset a surprise rise in motor fuel inventories during the peak demand US summer driving season, when many Americans hit the roads for their vacation.Falling US stockpiles tend to push oil prices higher because they indicate strengthening crude demand in top global consumer the United States."WTI crude has been on an unpredictable rollercoaster ride with prices ...

Markets - Energy - Europe

Oil steadies as US inventories send mixed signals LONDON: Oil prices steadied on Thursday after the US Energy Department reported a ninth consecutive weekly drawdown of crude stocks but an overall build in oil inventories.US West Texas Intermediate crude for September delivery , the new front-month contract from Thursday, was up 12 cents at $45.87 a barrel at 1035 GMT. The August contract expired on Wednesday after rising 29 cents, or 0.7 percent, to settle at $44.94 a barrel.Brent crude was up 10 ...

Markets - Energy - Europe

Iraq oil exports set to rise in July, despite leak LONDON: Iraq's oil exports are set to rise in July, according to loading data and an industry source, putting supply growth from OPEC's second-largest producer back on track after after two months of declines.Iraq in 2015 provided OPEC's biggest rise in supply. The growth has slowed this year due to maintenance and technical problems, and Iraqi officials say seasonally higher domestic use has curbed volumes available for export.Exports from southern Iraq in the first 21 ...

Markets - Energy - Asia

Oil edges up on increased US stockpile SINGAPORE: Oil prices edged up in Asia Thursday following US data showing a drop in crude inventories, a sign of a tightening supply market.Crude stockpiles fell by 2.3 million barrels last week -- the ninth week in a row -- data from the US Department of Energy showed.This helped offset a surprise rise in gasoline inventories over the summer -- traditionally the peak demand season for motor fuel.At about 0330 GMT, US benchmark West Texas ...

Markets - Energy - Americas

Oil prices rebound on US stockpiles data NEW YORK: Oil prices recovered from two-month lows on Wednesday as markets reacted to a drop in crude inventories in the United States.The US Department of Energy reported that crude stockpiles fell by 2.3 million barrels last week, offsetting a surprise rise in gasoline inventories during the peak demand season for American motor fuel.US benchmark West Texas Intermediate for August delivery rose 29 cents to $44.94 on the New York Mercantile Exchange.Brent North Sea crude ...

Markets - Energy - Europe

Med crude-Urals stronger on healthy demand, CPC Blend back to premium MOSCOW: Urals crude price differentials continued to strengthen on Wednesday on keen buying interest for August-loading cargoes and a quite tight loading plan for early that month. The schedule for the first 10 days of August was released on Wednesday showing a decrease in Novorossiysk loading compared to the same period in July by 275.000 tonnes, but exports from Baltic ports were 100.000 tonnes longer than in July. The latest version of Urals preliminary loading ...

Markets - Energy - Europe

Europe Gasoline/Naphtha-Cracks weaken after new US stock build LONDON: Gasoline refining margins in northwest Europe declined on Wednesday after a further build in US inventories increased concerns over already high supplies. Demand remained overall weak. Exports to the United States in July are so far expected to reach around 1 million tonnes. US gasoline stocks rose last week by 911,000 barrels, compared with the Reuters poll forecast for no change, according to EIA data. Gasoline stocks in the US East Coast (PADD 1) ...