12082016Thu
Last update: Thu, 08 Dec 2016 02pm

Americas

Markets - Energy - Americas

Oil prices edge higher with Wall St as the US votes NEW YORK: Oil prices edged higher on Tuesday after trading either side of unchanged all morning, keeping crude in line with a small increase in US stock markets as voters headed to the polls to elect the next president of the United States. The most recent polls have put Democrat Hillary Clinton ahead of Republican rival Donald Trump in Tuesday's election. Most investors believe a Clinton victory would result in greater certainty and stability in financial markets. Brent futures rose 15 cents, or 0.3 percent, to $46.30 a barrel by 1:38 p.m. EST (1838 GMT). US crude rose 34 cents, or 0.8 percent, to $45.23 per barrel. Brent crude's premium to the US West Texas Intermediate (WTI) futures contract declined to its lowest in almost five months. The Organization of the Petroleum Exporting Countries forecast demand for its oil will rise in the next three years, suggesting its 2014 decision ...

Markets - Energy - Americas

Oil set for biggest weekly loss since January NEW YORK: Oil futures on Friday were on course for their biggest weekly percentage declines since January of just under 10 percent as signs of tensions resurfaced between Saudi Arabia and Iran that could scupper a key supply cut pact. Traders also noted a surge in US crude inventories last week and muted demand continued to weigh on futures. At a meeting of OPEC experts last week, Riyadh threatened to raise oil output steeply to ...

Markets - Energy - Americas

Brazil could pay Petrobras up to $20bn over rights SAO PAULO: State-run oil company Petrobras could receive as much as $20 billion from the Brazilian government as compensation for a fall in oil prices since the purchase of offshore drilling rights in 2010, newspaper Folha de S. Paulo said on Friday. Petroleo Brasileiro SA, as the company is formally known, said in a securities filing that no decision had yet been made regarding a review of some of its oil and gas drilling prerogatives ...

Markets - Energy - Americas

Oil prices tumble 3pc on record US crude build NEW YORK: Oil prices tumbled 3 percent on Wednesday after a record weekly build in US crude inventories stoked investor worries about a global supply glut, days after analysts estimated higher monthly OPEC crude output. The US Energy Information Administration (EIA) said crude inventories rose 14.4 million barrels for the week ended Oct. 28, far more than the 1.0 million barrels analysts had expected. It was the biggest weekly rise in US crude stocks since ...

Markets - Energy - Americas

Oil down for 4th day on chance of huge US crude build NEW YORK/LONDON: Oil prices fell for a fourth straight day on Wednesday, hitting five-week lows, as jittery investors awaited US government data on crude stockpiles after a stunning build reported by a trade group that underlined the market's oversupply. The American Petroleum Institute (API) said after Tuesday's market settlement that crude stockpiles rose by 9.3 million barrels in the week to Oct. 28, more than nine times the amount expected by analysts polled by Reuters. ...

Markets - Energy - Americas

US weekly crude inventory build largest on record NEW YORK: US crude inventories rose by 14.4 million barrels last week, the largest one-week build on record, according to new data released Wednesday by US Energy Information Administration, which began tracking data in 1982. US commercial imports rose to 8.99 million barrels per day last week, the highest weekly volumes since September of 2012, according to EIA data. US Gulf Coast inventories dropped to 37.08 million barrels, the lowest levels for this time of ...

Markets - Energy - Americas

Oil down 3pc after record US crude build NEW YORK: Oil prices tumbled 3 percent on Wednesday after a record weekly build in US crude stocks added to worries of all-time highs in OPEC production that suggested little could be done to rein in a global glut. The US government's Energy Information Administration (EIA) said crude inventories rose by 14.4 million barrels for the week ended Oct. 28, versus analysts' expectations for a build of 1.0 million barrels. It was the biggest ever ...