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Canadian Oil Sands in early-stage talks with potential bidders TORONTO: Canadian Oil Sands, which is trying to attract a white knight after a hostile bid from Suncor Energy, needs more time to review its options as more than two dozen parties have expressed an interest in the company, according to a regulatory filing. An affidavit submitted to the Alberta Securities Commission by the Royal Bank of Canada, which has been retained by Canadian Oil Sands to lead a review of the company's options, said "four highly credible parties" have already signed confidentiality agreements. Following Suncor's hostile C$4.3 billion ($3.23 billion) offer last month, Canadian Oil Sands adopted an extended poison pill to thwart the bid. Suncor is attempting to get the pill quashed and a hearing on the matter is due to take place before the provincial securities regulator on Thursday. A source familiar with the matter, who spoke off the record without authorization to discuss the matter publicly, ...

US crude stocks rise, gasoline inventories exceed expectations NEW YORK: US crude stocks rose less than expected last week, while gasoline and distillate inventories also increased, data from the Energy Information Administration showed on Wednesday. Crude inventories rose by 1 million barrels in the last week, compared with analysts' expectations for an increase of 1.2 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.744 million barrels, EIA said. Refinery crude runs rose by 304,000 barrels per day, EIA data ...
Big funds in rare bearish turn on gasoline, record diesel shorts NEW YORK: Big funds have turned bearish on US gasoline prices for only the third time in at least a decade, and expanded short diesel positions to a record high, on bets that a yearlong crude glut may spill into fuel markets. Managed money gasoline positions on the New York Mercantile Exchange turned net short last week for the third time since the Commodity Futures Trading Commission began collecting the data in 2006, according to ...
Average US gasoline prices resume slide, hit 10-month low NEW YORK: The average price of gasoline in the United States resumed its slide over the past two weeks, dropping 11 cents to $2.14 a gallon, the lowest since late January, according to a Lundberg survey released on Sunday. The 5 percent decline in gasoline prices came as oil refiners and gasoline wholesalers and retailers passed along lower oil-buying prices to consumers, said survey publisher Trilby Lundberg in emailed comments. Current retail gas prices were ...
Venezuelan oil minister says OPEC cannot allow a price war TEHRAN: OPEC cannot allow an oil price war and must take action to stabilise the crude market soon, Venezuelan oil minister Eulogio del Pino said on Sunday."OPEC has to do something very soon ... We don't agree with the position that says the market some way is going to dictate the price of crude oil. We don't agree with that position of Saudi Arabia," del Pino said on the sidelines of the Gas Exporting Countries ...
Brent steady, US crude down ahead of contract expiry NEW YORK: Brent oil futures settled steady on Thursday while US crude fell ahead of the expiry of the front-month contract and continued pressure from large inventory builds. A weaker dollar and stronger refining margins for gasoline, which could prompt refiners to turn more crude into the motor fuel, helped limit the downside in crude. The dollar fell to a near one-week low against a basket of currencies, making crude and other commodities denominated in ...
US oil may continue to hover above $40.02 SINGAPORE: US oil may continue to hover above a support at $40.02 per barrel and seek a chance to retest a resistance at $41.83, as indicated by its wave pattern and a Fibonacci projection analysis.The support is provided by the 100 percent Fibonacci projection level of downward wave c, the third wave of a three-wave cycle from the Oct. 9 high of $50.92.The bullish divergence on the hourly RSI suggest a completion of this wave. ...


Index Closing Chg%
Arrow DJIA 17,813.39 0.01
Arrow Nasdaq 5,116.15 0.26
Arrow S&P 2,088.87 0.01
Arrow FTSE 6,337.64 0.96
Arrow DAX 11,169.54 2.15
Arrow CAC-40 4,892.99 1.51
Arrow Nikkei 19,847.58 0.39
Arrow H.Seng 22,498.00 0.40
Arrow Sensex 25,775.74 0.17

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