01172017Tue
Last update: Tue, 17 Jan 2017 11am

Americas

Markets - Energy - Americas

US gasoline margins jump on report of Saint John refinery outage NEW YORK: US gasoline margins jumped by more than 3 percent Tuesday morning on a report that Irving Oil had unexpectedly shut its gasoline-making unit its 300,000 barrel-per-day (bpd) Saint John refinery in New Brunswick, Canada, traders said. Energy intelligence service Genscape reported Tuesday morning that the refinery's 70,000 (bpd) fluid catalytic cracker was shut, just days after it was restarted after planned work. Reuters has not independently confirmed the reported outage. The US gasoline crack spread, a key indicator in refining margins, was up 3.09 percent at 12:57 GMT to $12.28 a barrel, as US gasoline futures were slightly leading the oil complex. The FCC unit was restarted last week following a large turnaround at the refinery that began in late September. The plant's 150,000 bpd crude unit, its largest, was shut down as part of the planned work and was expected to be restarted by the end of ...

Markets - Energy - Americas

US STOCKS SNAPSHOT-S&P, Dow hit record highs; Fed meeting in focus NEW YORK: Wall Street opened higher on Tuesday, with the Dow and the S&P 500 hitting fresh record highs, as investors focused on the Federal Reserve's two-day meeting where it is widely expected to raise rates for the second time since the financial crisis. The Dow Jones Industrial Average rose 67.56 points, or 0.34 percent, to 19,863.99. The S&P 500 gained 7.82 points, or 0.346484 percent, to 2,264.78. The Nasdaq Composite added 19.80 points, or ...

Markets - Energy - Americas

ExxonMobil CEO is Trump's top pick for secretary of state: reports WASHINGTON: ExxonMobil President and CEO Rex Tillerson is President-elect Donald Trump's likely pick for secretary of state, US media reported Saturday, with some lawmakers quickly voicing concerns about his ties to Russian leader Vladimir Putin.Tillerson, 64, has extensive experience in international negotiations, overseeing his oil company's activities in more than 50 countries.His links to Russia could be problematic with Moscow facing renewed scrutiny in Washington. A Washington Post report late Friday said a secret CIA ...

Markets - Energy - Americas

OPEC to push for non-member oil cuts VIENNA: The OPEC cartel will seek Saturday to persuade other oil producers to lower production as part of a newly struck global pact to stem a crude glut and lift painfully low prices.The Vienna meeting, which includes major producer Russia, aims to nail down details on implementing the accord reached late last month.Analysts however remained divided over the gathering's impact as doubts lingered regarding countries' willingness to freeze output."We do not expect the outcome of ...

Markets - Energy - Americas

Oil falls on production cut skepticism, OPEC and Russia output rise      NEW YORK: Oil prices on Tuesday fell for the first session since OPEC agreed to cut output last week after data showed crude production rose in most major export regions and on growing skepticism that the cartel would be able to reduce production.  After rising over 15 percent over the four sessions since the Nov. 30 OPEC meeting, Brent futures were down $1.25, or 2.3 percent, to $53.69 a barrel at 10:13 a.m. EST (1513 GMT). US crude fell $1.36, or ...

Markets - Energy - Americas

Med Crude-Urals diffs rise on expected drop in Baltic loadings MOSCOW: Urals crude differentials to dated Brent rose further on Monday in a spot tender, supported by healthy demand and limited supply of the grade in the second half of December, traders said. Oil loadings from the Baltic Sea ports for the Dec. 13-31 period will fall to 4 million tonnes, against the 4.4 million tonnes expected for Nov. 13-30, the final loading plan showed on Friday.In northwest Europe, BP bid for 100,000 tonnes of ...

Markets - Energy - Americas

GLOBAL MARKETS-Oil rallies in choppy trade; dollar, stocks dip NEW YORK: Crude futures rallied in choppy trading on Monday ahead of an OPEC meeting later in the week that could reap production cuts, while the US dollar recovered from earlier losses but was still slightly lower.The dollar index dipped 0.08 percent after having fallen as much as 0.8 percent. The US currency sank as much as 1.6 percent against the yen, going as low as 111.32 yen before recovering to 112.3. Most analysts said ...