09262016Mon
Last update: Mon, 26 Sep 2016 12pm

Americas

Markets - Energy - Americas

Retail US gas prices still rising as Colonial repairs continue NEW YORK: Gasoline prices in the southeastern United States kept rising on Monday after a more than weeklong disruption in Colonial Pipeline's main gasoline line led to supply issues and choppy availability in retail gas stations across the region. The leak, which was discovered on Sept. 9, has released about 6,000 to 8,000 barrels of gasoline in Shelby County, Alabama, and thrown the gasoline market into a tizzy in the past week, with East Coast and futures prices increasing and Gulf Coast prices weakening significantly. One of the hardest hit states is Georgia, where prices were up nearly 6 cents overnight to Monday.The average price of a gallon of gas in the state is now at $2.316, more than 20 cents higher than a week ago, according to motorists' advocacy group AAA. Georgia Governor Nathan Deal signed an executive order on Monday preventing gas stations from significantly raising their fuel ...

Markets - Energy - Americas

Oil up 2pc on producer deal speculation; gasoline dips NEW YORK: Oil prices rose about 2 percent on Monday after Venezuela hinted that OPEC and other major oil producers could agree to a market support deal and as clashes in Libya disrupted attempts to boost crude exports. US gasoline futures fell slightly on profit-taking from last week's rally on the outage of a key gasoline pipeline due to a leak.Oil was also supported by higher equity prices on Wall Street and a weaker dollar ...

Markets - Energy - Americas

Oil jumps on firmer gasoline, US equities; snaps 2-day rout NEW YORK: Oil prices rose about 2 percent on Thursday, ending a two-day slide as prices tracked a surge in gasoline futures and higher US equity markets. Prices remained lower for the week so far.Over the previous two sessions, oil fell 6 percent, pressured by data showing large weekly builds in US petroleum products and forecasts by the world's energy watchdog and OPEC that signaled the global crude glut could persist into 2017. Traders and ...

Markets - Energy - Americas

Crude rises on Wall St rally, gasoline spike amid pipeline outage NEW YORK: Oil prices rose about 1 percent or more on Thursday after tracking a rally in gasoline futures sparked by a delayed restart of the main gasoline line at Colonial Pipeline, the No. 1 carrier for the motor fuel in the United States. A run up in Wall Street shares also boosted oil prices as weak US economic data dampened the likelihood of a Federal Reserve rate hike this month. Brent crude futures settled ...

Markets - Energy - Americas

Brazil's Petrobras CEO says to halve leverage ratio before 2020 BRASILIA: Brazil's state-run oil firm Petroleo Brasileiro SA will seek to reduce its leverage ratio to 2.5 from 5 currently before 2020, Chief Executive Officer Pedro Parente told newspaper O Estado de S. Paulo in an interview on Sunday. Parente said the leverage target will be included in the business plan to be announced on Sept. 19.The plan will also have an operational target, Parente said. The targets will help Petrobras, as the company is ...

Markets - Energy - Americas

Oil drops again as Russia casts doubt on supply limits NEW YORK: Oil prices continued to fall on Thursday as investors reacted to rising US inventories and to Russian remarks that a production freeze may be unnecessary.In New York, a barrel of West Texas Intermediate crude for October delivery finished down $1.54 at $43.16.North Sea Brent, also for October delivery, fell $1.44 to settle at $45.45 per barrel on the Intercontinental Exchange in London.Oil markets had rallied last month on hopes that producing countries will ...

Markets - Energy - Americas

Shell becomes first oil company to join Mexico's hedging program NEW YORK: Royal Dutch Shell Plc participated in Mexico's oil hedging program for 2017, the first time an oil company has taken part in the world's large commodities hedging program, according to Bloomberg, citing four people with knowledge of the matter. Shell's trading unit was one of the seven counterparties to the Mexican government, the report said, adding that their involvement is the first known participation since Mexico started to lock in prices regularly 15 ...