05302016Mon
Last update: Mon, 30 May 2016 04am

Americas

Markets - Energy - Americas

Oil slips; pressured by strong dollar, stubborn glut NEW YORK: Oil prices slipped on Friday as a stronger dollar encouraged investors to cash in on a second week of gains and the market stayed focused on whether unplanned supply outages were reducing a stubborn global glut. The US dollar hit its highest level against the yen in more than three weeks and cruised to a third week of gains on mounting expectations for a summer US rate hike. A stronger dollar makes greenback-denominated oil futures more expensive for holders of other currencies. Global benchmark Brent crude settled down 9 cents at $48.72 a barrel, while US crude settled down 41 cents at $47.75 per barrel. Trading was thin ahead of the weekend and the more active WTI contract for July delivery settled down 26 cents. Oil clocked its second straight week of gains, as unplanned supply outages have risen to the highest in at least five years because ...

Markets - Energy - Americas

Brazil April fuel sales fall 4.9pc to 70.42mn barrels RIO DE JANEIRO: Brazilian fuel sales in April fell 4.9 percent to 70.42 million barrels, the country's petroleum regulator ANP said on Friday. Over the same period, gasoline sales rose 3.5 percent to 22.45 million barrels from 21.7 million barrels, diesel fuel sales fell 3.5 percent to 28.76 million barrels from 29.81 million barrels, and hydrated ethanol sales fell 23 percent to 7.3 million barrels from 9.43 million barrels, the ANP said. Copyright Reuters, 2016 ...

Markets - Energy - Americas

Shell awarded tender to sell Nigerian crude to Uruguay HOUSTON: Oil firm Royal Dutch Shell was awarded this week a tender to sell 1 million barrels of Nigerian Bonny Light crude to Uruguay's state-run company ANCAP for delivery July 19-23 at Jose Ignacio port, traders said on Friday. This is the second tender in a row that Shell has won to supply Uruguay with crude. It previously won one with an offer combining Bonny Light and Brazilian Sapinhoa crude for June delivery. The prices ...

Markets - Energy - Americas

Oil ease as focus returns to oversupply, strong dollar adds pressure NEW YORK: Oil prices were steady to softer on Friday as a stronger dollar spurred investors to cash in on a second week of gains, with the focus remaining on the rebalancing of the market as the global glut faced unplanned supply outages.The US dollar hit its highest level against the yen in more than three weeks and was on course for a third week of gains on expectations of a potential summer Federal Reserve ...

Markets - Energy - Americas

Oil down as dollar surges; Nigeria oil terminal issue pares loss NEW YORK: Oil prices tumbled on Thursday as US rate hike expectations lifted the dollar, but crude pared losses on worries about more supply outages from Nigeria's main crude oil terminal. Growing expectations that the US Federal Reserve may raise rates next month prompted investors to cash out of long positions in Brent and US crude's West Texas Intermediate (WTI) futures. Those positions came into the money after oil rallied on Monday and Tuesday on ...

Markets - Energy - Americas

Oil down over 2pc as dollar soars on US rate hike fears NEW YORK: Crude oil prices fell more than 2 percent on Thursday as the dollar's surge on U.S. rate hike expectations drove players from the oil market.Fear that the U.S. Federal Reserve may raise rates by next month prompted investors to cash out of long positions in Brent and U.S. crude's West Texas Intermediate (WTI) futures that rallied earlier in the week on oil supply outages."Petroleum prices are under selling pressure as part of a ...

Markets - Energy - Americas

Canadian oil exports drop, supply hunt on amid wildfires NEW YORK: In a sign the massive Alberta wildfire is taking a toll on oil transport, Canadian crude exports to the United States dropped 12 percent last week, while another blend of Canadian sweet crude oil rallied as concerns grow about supply.Overall, trading in Canadian crude was quiet, as the second half of the month is generally inactive.Hot and dry weather and strong winds were expected to push the wildfire burning near Fort McMurray, Alberta ...