08272016Sat
Last update: Sat, 27 Aug 2016 04am

Markets - Energy

Markets - Energy - Europe

Oil prices dips as Iran nuclear deadline approaches LONDON: Oil fell Tuesday as dealers tracked last-ditch efforts between global powers and Iran to reach a deal on Tehran's nuclear programme and ease sanctions imposed on the crude producer. Brent North Sea crude for delivery in May slid $1.23 to $55.06 a barrel in London midday deals.US benchmark West Texas Intermediate (WTI) for May shed $1.11 to $47.57 a barrel."Today marks the deadline by which a solution is supposed to be found in the nuclear talks with Iran," said Commerzbank analyst Carsten Fritsch."The considerable efforts undertaken in recent weeks, plus the fact that the foreign ministers of those nations taking part in the negotiations have travelled to Lausanne, make it unlikely that the talks will fail completely."Marathon talks aimed at preventing Iran from acquiring nuclear weapons went into a final nail-biting day Tuesday, with Russia saying the chances were "high" of reaching a historic framework deal by midnight.Russian Foreign ...

Markets - Energy - Asia

Oil extends losses as deadline for Iran nuclear deal looms SINGAPORE: Oil futures extended losses on Tuesday, as Iran and six world powers ramped up the pace of negotiations to reach a preliminary deal that could ease sanctions and allow more Iranian crude onto world markets.With a deadline less than 24 hours away, United States, Britain, France, Germany, Russia and China were trying to break an impasse in negotiations aimed at stopping Iran from having the capacity to develop a nuclear bomb, in exchange for ...

Markets - Energy - Asia

Asia-Pacific Crude-Arbitrage inflows may weigh SINGAPORE: Most May loading cargoes were committed in the Asia-Pacific crude market, although differentials could come under pressure from inflows of cheaper West African grades.Both Indonesia's Pertamina and Taiwan's CPC bought African grades in their import tender for sweet grades.Brent's narrowing premium to Dubai crude makes African oil more competitive relative to Middle East crude. Brent-Dubai Exchange of Futures for Swaps (EFS), or Brent's premium to Dubai swaps, narrowed 29 cents to $1.22 a barrel ...

Markets - Energy - Europe

UK gas prompt prices rise as outage tightens nearby supply LONDON: Prompt natural gas prices in Britain were higher on Tuesday, as an outage at Centrica's North Morecambe Barrow terminal cut Continental Shelf gas flows, tightening an undersupplied system.Gas prices for within-day delivery were up 1.8 percent at 48.20 pence per therm at 0955 GMT.Gas flows at Britain's North Morecambe gas terminal were cut to zero in an unplanned outage on Monday, operator Centrica said.National Grid data showed the system was expected to be around ...

Markets - Energy - Asia

India lowers April-Sept gas prices by 8pc: govt NEW DELHI: Locally produced gas in India will cost 8 percent less during April-September, the government said in a statement on Tuesday, due to a decline in global prices.India in November introduced a new gas-pricing formula and raised the local prices by a third. The formula links the prices of locally produced gas with those in the United States, Canada, UK and Russia.Prices will be cut to $4.66 per million British thermal units (mmBtu) in ...

Markets - Energy - Europe

Oil drops to $55 as Iran nuclear talks intensify LONDON: Brent crude oil dropped towards $55 a barrel on Tuesday as Iran and six world powers entered a final day of talks over a nuclear deal that could see the energy-rich country increase oil exports to world markets.With a self-imposed deadline set for the end of the day, the United States, Britain, France, Germany, Russia and China ramped up the pace of negotiations with Iran in Switzerland over an outline deal on Tehran's nuclear ...

Markets - Energy - Asia

Oil prices edge lower as Iran nuclear deadline approaches SINGAPORE: Oil prices fell in Asia on Tuesday as dealers monitored last-ditch efforts between global powers and Iran to reach a deal on Tehran's nuclear programme and ease sanctions imposed on the crude producer. US benchmark West Texas Intermediate fell 67 cents to $48.01 while Brent eased 41 cents to $55.88 in afternoon trade.Singapore United Overseas Bank said prices "tumbled as hopes for a nuclear deal with Iran climbed".Foreign ministers of US-led major world powers ...