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Last update: Mon, 26 Sep 2016 10am

Markets - Energy

Markets - Energy - Americas

Oil hits 4-month low on China stock market dive, supply concern NEW YORK: Crude oil futures hit four-month lows on Monday after a steep drop in China's stock markets sparked concern about the economic health of the world's biggest energy consumer, while evidence of a growing crude glut mounted. Oil was also pressured by a sharp increase in US drilling activity with data on Friday showing producers added 21 rigs last week, the most in over a year, suggesting a ramp up in output as crude futures recovered from six-year lows seen in the first quarter. A weaker dollar on Monday cushioned some of oil's losses as crude and other commodities denominated in the greenback saw higher demand from users of the euro. Chinese stocks tumbled more than 8 percent in Asian trading, the biggest one-day drop in eight years, driving European equities markets to a two-week low.Brent crude oil settled down $1.15, or 2 percent, at $53.47 a barrel.In post-settlement, ...

Markets - Energy - Europe

Oil prices drop on Chinese woes LONDON: World oil prices slid on Monday to around four-month lows, hurt by poorly received economic data from China, the world's top energy consuming nation, traders said.A strong dollar and signs of increasing US oil production added further pressure to prices, which have already been depressed by a global oversupply of crude.US benchmark West Texas Intermediate (WTI) for September delivery fell 63 cents to $47.51 a barrel, pulling back from a near four-month low of ...

Markets - Energy - Europe

Oil prices drop on Chinese, US data LONDON: World oil prices slid on Monday, hurt by poorly-received economic data from China, the world's top energy consuming nation, traders said.A strong dollar and signs of increasing US oil production added further pressure to prices, which have already been depressed by a global oversupply of crude.US benchmark West Texas Intermediate (WTI) for September delivery fell 64 cents to $47.50 a barrel.Brent North Sea crude for September dropped 94 cents to stand at $53.68 a ...

Markets - Energy - Asia

Japan's JX sees Aug crude refining up 2 pc TOKYO: Japan's top oil refiner JX Nippon Oil & Energy Corp said on Monday it would refine 1.09 million barrels per day (5.37 million kilolitres) of crude oil in August for domestic consumption, up 2 percent from a year earlier.Its July crude refining for domestic consumption was estimated at 848,000 bpd (4.18 million kl), down 12 percent from the year-earlier period, compared with the original plan of 954,000 bpd (4.70 million kl), due to delay ...

Markets - Energy - Americas

Oil falls, heads for fourth weekly loss as China slows NEW YORK: Brent futures fell and US crude turned lower on Friday as both contracts headed for their fourth straight weekly declines as weak economic data from China added pressure on oil prices. US crude losses follow Thursday's fall into bear market territory, with it $48.45 a barrel settlement off 21 percent from the June 10 close at $61.43. A 20 percent downturn is considered by many traders to constitute a bear market. China's factory ...

Markets - Energy - Europe

Russia's Gazprom says files case against Turkmengaz over price MOSCOW: Russian gas company Gazprom said on Friday it had filed a case against Turkmenistan's Turkmengaz at the international arbitration court in Stockholm over the price in a supply contract. A spokesman for the Russian company said: "A lawsuit has been filed in Stockholm. The demand - a revision of prices." Copyright Reuters, 2015

Markets - Energy - Asia

Oil prices rebound in Asia but crude oversupply weighs SINGAPORE: Oil prices rose in Asia on Friday following recent losses but analysts said the rebound is unlikely to be sustained because of a global crude glut.US benchmark West Texas Intermediate for September delivery edged up 26 cents to $48.71 a barrel in afternoon Asian trade. The contract finished below $49 on Thursday for the first time since March 31.Brent crude for September advanced 18 cents to $55.45.Over the week WTI is down more than ...