02142016Sun
Last update: Sun, 14 Feb 2016 02am

Markets - Energy

Markets - Energy - Americas

Oil falls for 3rd day as concerns about growing glut deepen NEW YORK: Oil prices fell for a third straight session on Monday, with U.S. prices piercing $30 a barrel again, as lingering concerns about oversupply deepened after a Saudi-Venezuela meeting at the weekend showed few signs of coordination to boost prices.No tangible signs emerged from a meeting on Sunday between Saudi Arabia's oil minister Ali al-Naimi and his Venezuelan counterpart that OPEC and non-OPEC suppliers were ready to meet to discuss the price slump.Hopes of an accord to shore up prices which are languishing close to 2003 have dimmed over the past week, but the meeting between cash-strapped Venezuela and the kingpin of the Organization of the Petroleum Exporting Countries was seen as "make or break" for a possible deal to boost prices that have slumped 70 percent since mid-2014.Venezuela's oil minister Eulogio Del Pino, who was on a tour of oil producers to lobby for action to prop up ...

Markets - Energy - Europe

UK GAS-Prices steady ahead of cooler weather LONDON: British gas prices were little changed on Monday in a near balanced system with the outlook for cooler weather supportive of prices for the remainder of the week. Gas for immediate delivery traded down 0.05 pence, or 0.2 percent, at 28.85 pence per therm as of 0953 GMT. Gas for delivery Tuesday was up 0.20 pence or 0.7 percent at 28.95 pence per therm. Britain's gas system was undersupplied by 5 million cubic metres ...

Markets - Energy - Europe

Crude oil slips as Saudi, Venezuela meeting yields little LONDON: Crude oil prices eased in thin trade on Monday as a meeting between OPEC producers Saudi Arabia and Venezuela showed little indication that steps would be taken to boost prices. Global benchmark Brent futures were down 8 cents at $34.98 at 0932 GMT.They fell 40 cents to $34.06 a barrel on Friday. US crude futures fell by 23 cents to $30.66, after falling 83 cents to $30.89 on Friday. Both contracts firmed slightly earlier ...

Markets - Energy - Asia

Asia Naphtha-Bangladesh naphtha tender gets lowest bid since Nov 2014 DHAKA: Bangladesh Petroleum Corp (BPC) will sell 170,000 barrels of naphtha to Japanese trading firm Itochu at a discount of $1.19 to Singapore quotes, the lowest price since November 2014. Itochu quoted the best price among seven firms competing in the tender for the cargo, lifting over Feb. 21-23 on a free-on-board (FOB) basis from Chittagong, said a company official after the tender was opened on Monday. Copyright Reuters, 2016

Markets - Energy - Asia

Oil prices dip as supply fears offset Saudi-Venezuela talks TOKYO: Crude prices edged down in Asia on Monday as worries about the ongoing supply glut offset news that the oil ministers of Saudi Arabia and Venezuela had held talks on stabilising the beleaguered market.A pick-up in the dollar also weighed on the commodity, with a drop in US unemployment and improving wage growth fuelling talk that the Federal Reserve could lift interest rates again next month.At around 0300 GMT, US benchmark West Texas Intermediate ...

Markets - Energy - Asia

Iran's crude oil sales to Europe have reached above 300,000 bpd after sanctions: Shana DUBAI: Iranian Oil Minister Bijan Zanganeh said on Saturday that Iran's crude oil sales to Europe after the lifting of international sanctions on Tehran had already reached above 300,000 barrels per day (bpd), according to the ministry's news agency.Iran's oil exports, which had peaked at more than 3 million barrels per day (bpd) in 2011, fell to a little more than 1 million bpd after tougher sanctions were imposed in 2012 because of its nuclear ...

Markets - Energy - Europe

Russian finance ministry says oil taxes favour business, not state MOSCOW: Russian Finance Minister Anton Siluanov said on Saturday oil taxes in Russia favoured businesses, not the state, and there was room to increase the country's mineral extraction tax, TASS news agency reported."At current oil prices, taxes on oil companies benefit the producers and not the budget," TASS quoted Siluanov as sayingCopyright Reuters, 2016