09262016Mon
Last update: Mon, 26 Sep 2016 12pm

Markets - Energy

Markets - Energy - Europe

Oil prices rise on weaker dollar LONDON: Oil prices rose on Wednesday thanks to a weaker dollar but scepticism that key producers would agree to limit output at an upcoming meeting kept gains in check, traders said.The dollar has been hit by data Tuesday showing a sharp fall in the key US services sector, virtually wiping out any possibility of an interest rate hike this month from the Federal Reserve. The figures followed below-forecast readings on factory activity and jobs growth, hitting the greenback and in turn making dollar-denominated crude cheaper for holder of rival currencies.Around 1115 GMT, US benchmark West Texas Intermediate for delivery in October was up 41 cents to $45.24 a barrel.Brent North Sea crude for November delivery grew 49 cents to stand at $47.75 a barrel compared with the close on Tuesday.With three weeks until a meeting in Algeria, oil traders are keeping tabs on Russia and OPEC, hoping for signs they ...

Markets - Energy - Europe

Oil rises, but doubt over output deal tempers rally LONDON: Oil rose on Wednesday to pare some of the previous day's losses, partly thanks to a weaker U.S. dollar, but the limited likelihood of a near-term agreement among the world's biggest exporters to rein in production kept gains in check.November Brent crude futures rose 49 cents to $47.75 a barrel by 0900 GMT, while U.S. crude futures added 46 cents at $45.29 a barrel.Oil hit a one-week high on Monday after Russia and Saudi ...

Markets - Energy - Asia

Oil edges up, gains limited amid scepticism over freeze deal TOKYO: Oil prices erased early losses to trade higher on Wednesday, but gains were limited as market participants remained sceptical producers would reach an agreement to freeze output to rein in a global supply glut.London Brent crude for November delivery was up 33 cents at $47.59 a barrel by 0300 GMT, after settling down 37 cents on Tuesday.NYMEX crude for October delivery was up 31 cents at $45.14.Oil prices hit a one-week high on Monday ...

Markets - Energy - Asia

Oil prices up in Asia as dollar weakens SINGAPORE: Oil prices rallied in Asia on Wednesday on the back of a weaker dollar but scepticism that key producers will agree to limit output at an upcoming meeting kept gains in check.The dollar plunged after data Tuesday showed a shock slump in the key US services sector, virtually wiping out any possibility of an interest rate hike this month. The figures followed below-forecast readings on factory activity and jobs growth and sent investors fleeing ...

Markets - Energy - Europe

Oil market wobbles LONDON: Oil wobbled Tuesday as traders mulled a pledge from Russia and Saudi Arabia to address the chronic supply glut that has hammered the market in recent years.At 1130 GMT, US benchmark West Texas Intermediate for October delivery was 50 cents higher at $44.94 a barrel.Brent North Sea crude for November fell 19 cents to $47.44 a barrel compared with Monday's close.Prices had surged Monday on news that Saudi Energy Minister Khaled Al-Falih and Russian ...

Markets - Energy - Europe

Russia's Yamal LNG project on track and on budget, says Novatek VLADIVOSTOK: Russia's Yamal LNG project, to build the country's second gas liquefaction plant, is on track and on budget with Novatek and its partners having invested $18.5 billion so far, Novatek's CEO said. The first phase of the project, in which Novatek is in partnership with France's Total and China's CNPC and the Silk Road Fund, is due to start operation some time next year and Novatek's chief executive said it was 76 percent ready. ...

Markets - Energy - Asia

Iraq's oil output steady at 4.638mn bpd in August SINGAPORE: Iraq's crude oil production in August remained steady at 4.638 million barrels per day compared with 4.632 million bpd in July, the OPEC member's Oil Marketing Company (SOMO) said on Monday. August production is the country's highest output level since January, when Iraq produced 4.775 million bpd. Iraq's oil exports from southern ports rose to more than 3.230 million bpd in August, from 3.202 million bpd in July, on high crude production, the oil ...