Markets - Energy
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NEW YORK: Oil prices jumped Thursday after the United States said Syrian government forces had likely used chemical weapons, raising worries that Washington would punish Damascus militarily.WTI crude for June delivery, New York's main contract, rocketed $3.00 to $94 a barrel after the US statement, before easing slightly to finish at $93.64, a gain of $2.21 from late Wednesday's price.In London, Brent North Sea crude for June ended at $103.41, adding $1.68 for the day.US officials said cautiously for the first time that they had evidence of the use of chemical weapons by the Syrian regime.They stressed there was still not full agreement on the issue in the US intelligence community, but US Defense Secretary Chuck Hagel, speaking in Abu Dhabi, warned that use of such weapons "violates every convention of warfare."The report raised fears that Washington could intervene more deeply in the Syrian conflict, after having warned earlier that ...
NEW YORK: US natural gas futures edged lower early on Thursday, extending losses to a fourth straight session as moderating weather forecasts outweighed expectations that weekly government inventory data would show another below-average injection."After climbing to a 21-month high last week, gas prices have retreated over the past couple of trading days amid profit-taking, as traders shift their attention to the onset of normal spring temperatures next week and declining seasonal demand levels in the ...
BEIJING: China's Sinopec Group, Asia's largest oil refiner, said on Thursday it agreed to sell a stake of 30 percent in an oil and gas block in Myanmar to Taiwan's CPC Corp, one of a series of deals between state-owned energy giants and the Taiwan firm.Sinopec, the parent of Hong Kong-listed Sinopec Corp , gave no financial details of the transaction of block D, which is awaiting approval from regulators, nor did it give any ...
SINGAPORE: Oil prices rose in Asia Thursday, buoyed by a lower-than-expected gain in US crude stockpiles and hopes of an interest rate cut by the European Central Bank (ECB), analysts said. New York's main contract, light sweet crude for delivery in June added 40 cents to $91.83 a barrel and Brent North Sea crude for June delivery increased 32 cents to $102.05 in mid-morning trade."Prices are supported by data showing US inventory build-up was less ...
MILAN: Italian oil and gas giant Eni said on Wednesday it had completed its appraisal of gas discoveries at its Mozambique fields, and that they contained a more-than-expected 80 trillion cubic feet."The well results have exceeded expectations and Eni has updated the estimate of the Mamba Complex and Coral discoveries to 80 trillion cubic feet (Tcf) of gas in place," Eni said in a statement. Eni said it is now finalising the development plans. Eni ...
OSLO: Nordic spot power prices gained slightly on lower wind power output but this was partly offset by imports of cheaper power from the continent, analysts at Point Carbon said on Wednesday. The Nordic average day-ahead power price for Thursday came out at 40.72 euros ($53.00) per megawatt-hour (MWh) on the Nordic power exchange versus 39.92 euros for Wednesday. The day-ahead contract in the financial market was last traded at 40.50 euros MWh. Spot prices ...
SINGAPORE: Vietnam's top oil importer Petrolimex is seeking 35,000 tonnes of gasoil for May, a tender document showed on Wednesday.The company is seeking a 500 ppm sulphur gasoil cargo for May 20 to 31 loading from either Singapore, Thailand, South Korea, South China or Taiwan, the document stated.The tender closes on April 25 and is valid until April 26 Petrolimex had stayed away from the spot market due to a weak domestic demand and high ...More Articles...
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