12112016Sun
Last update: Sun, 11 Dec 2016 02pm

Markets - Energy

Markets - Energy - Americas

GLOBAL MARKETS-Oil rallies in choppy trade; dollar, stocks dip NEW YORK: Crude futures rallied in choppy trading on Monday ahead of an OPEC meeting later in the week that could reap production cuts, while the US dollar recovered from earlier losses but was still slightly lower.The dollar index dipped 0.08 percent after having fallen as much as 0.8 percent. The US currency sank as much as 1.6 percent against the yen, going as low as 111.32 yen before recovering to 112.3. Most analysts said the dip in the dollar since Friday was simply a corrective pullback with the greenback still on track for its strongest two-month gain since early 2015. "It looks much more like a correction than anything else - a Monday morning clearing of the decks before the end of the month," said Societe Generale macro strategist Kit Juckes in London. The euro was little changed versus the greenback after having gained nearly 1 percent to $1.0684 ...

Markets - Energy - Europe

Gazprom gets greater access to Germany's Opal gas pipeline FRANKFURT: Germany's energy regulator and Gazprom have agreed terms of a deal giving the subsidiaries of the Russian group greater access to the Opal gas pipeline, which the European Union approved a month ago. The Opal transport company is owned by Gazprom and German chemical firm BASF. The EU lifted a limit on Gazprom's use of the infrastructure, which takes gas from the subsea Nord Stream pipeline into central Europe, paving the way for Russia ...

Markets - Energy - Europe

Europe Distillates-Diesel cracks rise, but outlook weakens LONDON: Diesel refining margins in northwest Europe rose on Monday amid volatile crude trading, but expected higher imports into the region weighed on the outlook. The arbitrage from the US Gulf Coast remained closed as demand from Latin America remained strong, traders said. Imports from the Middle East and Asia were also low but were expected to sharply increase in the coming weeks as refiners in the Middle East complete maintenance. Around 15 tankers have ...

Markets - Energy - Americas

Venezuela 'optimistic' ahead of OPEC output cut talks ALGIERS: Venezuelan Oil Minister Eulogio del Pino said Monday he was "optimistic" that an OPEC meeting this week in Vienna will reach agreement on oil production cuts to boost prices."I am optimistic" ahead of "this very important meeting", he said, quoted by the Algerian news agency APS, on his arrival in Algiers where he met his counterpart Noureddine Boutarfa.The two ministers were to travel on to Moscow before Wednesday's meeting in Vienna on a mission ...

Markets - Energy - Americas

Uncertainty ahead of crucial OPEC meeting VIENNA: Mixed signals from OPEC ministers caused fresh volatility on oil markets Monday ahead of a meeting in Vienna meant to nail down a deal reducing the cartel's output by up to a million barrels per day.Saudi Arabia's energy minister appeared to suggest on Sunday that Riyadh could live with OPEC failing to agree its first cut in output in eight years, saying recovering demand would "stabilise" prices next year anyway."We don't have a single ...

Markets - Energy - Europe

OPEC makes last-ditch bid to save oil deal as tensions grow VIENNA: OPEC was trying on Monday to rescue a deal to limit oil output as tensions grew among the producer group and non-OPEC member Russia, with top exporter Saudi Arabia saying markets would rebalance even without an agreement. OPEC experts started a meeting in Vienna at 0900 GMT and were due to make recommendations to their ministers on how exactly the Organization of the Petroleum Exporting Countries should reduce production when it meets on Nov. ...

Markets - Energy - Europe

Oil up in choppy trade as OPEC heavyweights head to Vienna LONDON: Oil prices gained more than two percent on Monday in volatile trading after falling as much as two percent, recouping losses as the market reacted to the shaky prospect of major producers being able to agree output cuts at a meeting on Wednesday.Brent crude futures were $1.10 higher at $48.34 per barrel by 1410 GMT, after falling in early morning trade, clawing back losses and falling again. US West Texas Intermediate (WTI) crude futures ...