Americas
Tuesday, 18 June 2013 04:02
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NEW YORK: US stocks rose on Monday but ended well off their highs as investors speculated over the Federal Reserve's intentions about its massive stimulus program to aid the economy before a meeting of policymakers that begins on Tuesday.Major indexes climbed from the start of the session and were more than 1 percent higher for much of the day, recovering all of last week's losses, on the view that the Fed would reaffirm its policies of supporting the economic recovery at the end of a two day meeting that starts on Tuesday.However, the Financial Times reported the Fed was likely to signal that a move to reduce the program was close."We're held hostage in front of comments about what the direction for stimulus is, and the market is always more volatile when it is in front of the information flow," said Dan Veru, who helps oversee $3.8 billion as chief ...
NEW YORK: Global oil prices rose Wednesday, after a mixed US supplies report and a weaker dollar.West Texas Intermediate light sweet crude for July closed at $95.88 a barrel on the New York Mercantile Exchange (NYMEX), up 50 cents from Tuesday.In London trade, Brent North Sea crude for delivery in July added 53 cents to settle at $103.49 a barrel."We had some support coming from a weaker dollar," said David Bouckhout of TD Securities.A drop ...
NEW YORK: Oil prices fell Tuesday after OPEC slightly lowered its 2013 global demand outlook and reported the cartel increased output in May.New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in July, closed at $95.38 a barrel, down 39 cents from Monday.In London trade, Brent North Sea crude for delivery in July, the European benchmark contract, shed 99 cents to settle at $102.96 a barrel.In its June oil market report, ...
NEW YORK: California's growing reliance on natural gas to fuel its power plants will increase and power prices will remain elevated following Southern California Edison's decision to retire a crippled nuclear power plant.Both reactors at the 2,150-megawatt (MW) San Onofre plant will be permanently closed due to uncertainty over the cost and timing of restarting one of the units, said SCE, a unit of California energy company Edison International, on Friday.While the grid agency has ...
FRANKFURT: E.ON, Germany's biggest power supplier, said Monday it has secured a long-term deal to import liquified natural gas (LNG) from Pieridae Energy in Canada.Under the agreement, Pieridae will deliver approximately 5 million tonnes per annum (MTPA) of LNG to E.ON for 20 years into a number of locations in Western Europe, the two sides said in a statement."We are pleased to have reached a long-term agreement with E.ON, which will provide the European gas ...
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