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Oil jumps 5pc on tempered Iran view, slower US inventory rise NEW YORK: Oil prices jumped more than 5 percent on Monday as traders reassessed how quickly Iran might increase exports after a preliminary nuclear deal and anticipated that a months-long rise in US crude inventories may be slowing. Brent crude's rally followed Thursday's nearly 4 percent tumble after Iran and six world powers announced a framework agreement on the OPEC member's nuclear program. But initial expectations of a quick recovery in oil exports were tempered by views that it could take longer than expected to roll back sanctions. "People betting on Iran's oil arriving tomorrow realize they may have to wait up to a year," said Phil Flynn, analyst at Price Futures Group in Chicago.Oil extended gains after industry intelligence group Genscape reported that stockpiles at Cushing, Oklahoma, barely rose last week, according to traders. It would be the smallest increase since November at the delivery point for the US ...

Sete Brasil signs memorandum suspending debt for 90 days SAO PAULO: Brazilian oil rig producer Sete Brasil Participa??es SA said on Monday it signed a memorandum of understanding with its main creditors on March 31 that will suspend debt collection rights for 90 days. Earlier on Monday, Luiz Carlos Trabuco, chief executive officer of Brazilian private-sector lender Banco Bradesco SA, said the rig maker and commercial banks were in advanced talks over the size, maturity and scope of a new bridge loan. Sete Brasil ...
Greenpeace boards oil rig, Shell slams 'stunt' LOS ANGELES: Greenpeace activists have boarded an Arctic-bound Shell oil rig in the middle of the Pacific Ocean, the environmental group and oil giant said Monday.Shell denounced the action as a "stunt" and said it would not deflect it from its Arctic oil exploration plans.The six activists planned to camp on the 38,000-tonne Polar Pioneer platform, which they boarded 750 miles northwest of Hawaii using inflatable boats from the Greenpeace vessel "Esperanza."The six -- from ...
Oil falls nearly 4pc after tentative nuclear deal for Iran NEW YORK: Brent oil fell nearly 4 percent on Thursday after a preliminary pact between Iran and global powers on Tehran's nuclear program, even as officials set further talks in June and analysts questioned when the OPEC member will be allowed to export more crude. Traders had been fixated on the talks held in Lausanne, Switzerland for over a week as Iran tried to agree with six world powers on concessions to its nuclear program ...
Oil tumbles anew as press event called at Iran nuclear talks NEW YORK: Oil prices fell as much as 4 percent on Thursday after global powers negotiating a nuclear deal with Iran called for a news conference after more than a week of talks in Switzerland.A nuclear pact for Tehran could remove Western sanctions on the OPEC nation's oil exports, bringing millions of additional Iranian crude barrels onto a market already brimming with supply.A European representative told reporters there will be a press event on Iran's ...
Oil jumps after US output drop as Iran talks drag NEW YORK: Oil jumped as much as 5 percent on Wednesday, snapping a three-session losing streak, as US crude output fell for the first time in two months and the government announced a smaller-than-feared rise in weekly stockpiles.The market's focus on Iran nuclear talks, which had depressed prices since Friday, also shifted as the dollar eased. A weaker dollar makes commodities denominated in the greenback, such as oil, more attractive to holders of other currencies.Crude ...
Oil down as Iran deal eyed; US crude in for best week in 4 years NEW YORK: Oil prices fell on Friday as fears about the disruption of Middle East crude shipments from Yemen's conflict eased and the focus turned to the likelihood of an Iranian nuclear deal by next week that could put more supply on the market. But prices were still headed for their second straight week of gains. US crude was on track for its best week since 2011, reflecting the ground made by market bulls from ...


Index Closing Chg%
Arrow DJIA 17,826.30 1.54
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ICT 2014

Foreign Debt $61.805bn
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WeeklyApril 16, 2015
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