05012016Sun
Last update: Sun, 01 May 2016 01am

Markets - Energy

Markets - Energy - Europe

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Oil plummets on Doha failure LONDON: Oil plunged Monday a day after top producers failed to reach a deal in Doha to cap output, fanning fresh fears over a supply glut that has plagued the market.Prices had rebounded last week on hopes the OPEC exporters' club and other major players, including Russia, would agree to freeze output levels at Sunday's meeting.However, discussions in the Qatari capital floundered and a deal to curb abundant global oil supplies failed to materialise, sending the market reeling once again.At around 1045 GMT, US benchmark West Texas Intermediate for delivery in May sank $1.13 to $39.23 per barrel. Brent crude for June delivery lost $1.23 to $41.87.The Doha failure "has raised the fear that the current glut and oversupply issue is never going to be solved", GKFX analyst James Hughes told AFP."It has also brought into question the relevance of the OPEC cartel, if the most powerful voice in the ...

Markets - Energy - Asia

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Asia-Pacific Crude-Light grades hold steady  SINGAPORE: Australian light grades held steady on Monday, supported by demand from refiners in the Pacific.Trafigura bought a cargo of June-loading Mutineer crude about $3 a barrel to dated Brent, a trader said, after earlier purchasing a Kutubu cargo at $2-$2.50 a barrel above dated Brent.Russian ESPO starts trading this week as Surgutneftegaz has offered two ESPO cargoes loading between May 31 and June 5 and June 3-June 8 in a tender to close on ...

Markets - Energy - Europe

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Oil price impact on Bunds short-lived as low yields scare investors LONDON: The impact of tumbling oil prices on German Bunds proved to be temporary on Monday as investors were reluctant to push yields lower so close to the anniversary of one of the biggest sell-offs in the European benchmark.Ten-year Bund yields fell as low as 0.119 percent after the market opened, but quickly bounced back above 0.14 percent even as oil prices were down 5 percent after a meeting by major exporters in Qatar that ...

Markets - Energy - Middle East & Africa

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Saudi oil exports fall to 7.553mn bpd in February ABU DHABI: Saudi Arabia's crude oil exports in February fell to 7.553 million barrels per day from 7.835 million bpd in January, official data showed on Monday. Monthly export figures are provided by Riyadh and other members of the Organisation of the Petroleum Exporting Countries to the Joint Organisation Data Initiative, which publishes them on its website. Copyright Reuters, 2016

Markets - Energy - Asia

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Oil prices plunge after Doha output talks fail SINGAPORE: Oil prices plunged on Monday after the world's top producers failed to reach an agreement on capping output aimed at easing a global supply glut during a meeting in Doha.Hopes the world's main producer cartel, OPEC, and other major exporters like Russia would agree to freeze output has helped scrape oil prices off the 13-year lows they touched in February. But crude tanked after top producer Saudi Arabia walked away from the talks, which ...

Markets - Energy - Asia

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Iran's oil production has already surpassed 3.5mn bpd DUBAI: Iran's oil production has already surpassed 3.5 million barrels per day, the deputy oil minister said on Saturday, and the Islamic Republic is seeking to increase oil and gas exports in the coming month. "Iran's crude oil exports will increase to 2 million barrels per day in the coming month ... Gas condensate exports would also increase by 10 percent in the coming month," Rokneddin Javadi was quoted as saying by state news agency ...

Markets - Energy - Americas

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Oil down ahead of producer meeting; dollar slips NEW YORK: Crude oil prices fell on Friday ahead of a weekend meeting that could yield an output freeze by major producers, while the U.S. dollar and stocks across the globe edged lower but posted weekly gains.On Wall Street, energy stocks led the market slightly lower as oil fell, and Apple shares also weighed after Nikkei business daily reported Apple will continue its reduced production of iPhones in light of sluggish sales.The S&P 500, however, ...