02122016Fri
Last update: Fri, 12 Feb 2016 11pm

Americas

Markets - Energy - Americas

US oil prices slide for 5th straight session NEW YORK: US oil prices fell for the fifth straight session Wednesday as US crude inventories remained at high levels and OPEC confirmed a significant rise in cartel production in January.US benchmark West Texas Intermediate for March delivery fell 49 cents to $27.45 a barrel on the New York Mercantile Exchange.Brent North Sea oil for April delivery advanced 52 cents to $30.84 a barrel in London.Oil prices briefly rallied after a US Department of Energy report showed US oil stocks fell about 800,000 barrels for the week ending February 5.However prices soon dropped back as traders took note of higher supplies of gasoline, a rise in stocks at the key Cushing, Oklahoma trading hub and a scant drop in oil production."The WTI continues to be under pressure," said Andy Lipow of the consultancy Lipow Oil Associates.Analysts said sentiment was also marred by a report from the Organization of the Petroleum ...

Markets - Energy - Americas

US crude falls on glut worries despite US stock draw NEW YORK: US oil prices fell on Wednesday, reversing an early rally, and Brent also pared gains as worries about the global supply glut offset encouraging U.S. government data showing a surprise drop in domestic crude stockpiles.The early rally came on talk that major producers might tackle a glut that has sent prices to 12-year lows.U.S. prices rallied to above $29 after data showed crude inventories unexpectedly fell by 754,000 barrels in the last week ...

Markets - Energy - Americas

Oil in choppy trade after US stock drawdown; focus on glut NEW YORK: Oil prices seesawed in choppy trade on Wednesday, with U.S. crude slipping and Brent paring gains as worries about a global supply glut offset data showing a surprise drop in U.S. crude stockpiles.Oil prices rallied early, up for the first time in five days, on talk that major producers might try to tackle a glut that had driven prices to 12-year lows.U.S. crude rose above $29 a barrel after government data showed crude ...

Markets - Energy - Americas

Oil slumps 7pc ahead on expected US crude build, slowdown fear NEW YORK: Oil prices fell 7 percent on Tuesday as equity markets remained weak, forecasts called for record high U.S. crude stockpiles to grow more, and the latest global energy demand outlooks did not look strong enough to eliminate the swelling glut.U.S. gasoline futures fell to a 2008 low ahead of weekly inventory data expected to show crude and gasoline stocks growing to record highs.Continuing weakness in equity markets also pressured oil. Wall Street's S&P ...

Markets - Energy - Americas

Oil tumbles after Saudi-Venezuela talks, WTI below $30 NEW YORK: Crude oil prices slid lower Monday, pushing US oil below $30 a barrel, after weekend talks between OPEC kingpin Saudi Arabia and Venezuela dashed hopes for a reduction in production.US benchmark West Texas Intermediate for March delivery sank $1.20 (3.9 percent) to $29.69 a barrel on the New York Mercantile Exchange.In London, Brent North Sea crude for delivery in April, the European benchmark, finished at $32.88 a barrel, down $1.18 (3.5 percent) from ...

Markets - Energy - Americas

Oil prices fall 2 percent, supply overhang back in focus NEW YORK: Crude oil prices fell 2 percent on Monday as supply overhang concerns grew after a Saudi-Venezuela meeting on Sunday showed few signs of coordination to boost prices.Brent futures fell 68 cents to $33.38 a barrel, a 2 percent loss, by 10:36 a.m. EST (1536 GMT), paring a fall of as much as 3.3 percent earlier in the session. U.S. crude fell 78 cents, or 2.5 percent to $30.11 per barrel, also trimming losses ...

Markets - Energy - Americas

Oil falls for 3rd day as concerns about growing glut deepen NEW YORK: Oil prices fell for a third straight session on Monday, with U.S. prices piercing $30 a barrel again, as lingering concerns about oversupply deepened after a Saudi-Venezuela meeting at the weekend showed few signs of coordination to boost prices.No tangible signs emerged from a meeting on Sunday between Saudi Arabia's oil minister Ali al-Naimi and his Venezuelan counterpart that OPEC and non-OPEC suppliers were ready to meet to discuss the price slump.Hopes of ...