08302016Tue
Last update: Tue, 30 Aug 2016 07pm

Americas

Markets - Energy - Americas

Oil bounces on speculation of Iran supporting OPEC freeze action NEW YORK: Oil prices jumped as much as 2 percent on Tuesday, reversing early losses, after Reuters reported that Iran was sending positive signals that it may support joint OPEC action to prop up the market.Brent crude was up 87 cents, or 1.8 percent, at $50.03 a barrel by 11:02 a.m. EDT (1502 GMT). It had fallen 1.4 percent earlier to $48.48.U.S. crude jumped 70 cents, or 1.4 percent, to $48.11.Iran, the third-largest oil producer in the Organization of the Petroleum Exporting Countries, has been boosting output since the lifting of Western sanctions in January and refused in April to join an OPEC production freeze plan.Though Iran has not officially announced whether it will join a new effort to curb production at a meeting of OPEC and other producers in September, Tehran appears to be more willing to reach an understanding on the matter, sources in OPEC and the oil ...

Markets - Energy - Americas

Oil tumbles, Treasuries rise as investors await Fed NEW YORK: Oil prices fell more than 3 percent on supply worries, while US Treasuries rose and stocks flattened on Monday as markets awaited more clarity later this week from the Federal Reserve on when it might raise US interest rates. An upbeat assessment of the US economy from Fed Vice Chairman Stanley Fischer on Sunday was viewed as raising the prospect of Fed Chair Janet Yellen flagging a rate rise at a meeting with ...

Markets - Energy - Americas

Oil down 2pc as rally snaps on rising crude, China fuel exports NEW YORK: Oil prices fell more than 2 percent on Monday, retreating from last week's two-month highs, on worries about burgeoning Chinese fuel exports, more Iraqi and Nigerian crude shipments and a rising US oil rig count. China's July diesel and gasoline exports soared 181.8 percent and 145.2 percent respectively from the same month last year, putting pressure on refined product margins. US drillers added 10 oil rigs in the week to Aug. 19, the ...

Markets - Energy - Americas

Oil rally continues as Brent tops $50/barrel NEW YORK: Oil prices continued to rally Thursday with Brent oil topping $50 a barrel following data showing lower US crude stockpiles.Brent North Sea crude for delivery in October rose $1.04 to $50.89 a barrel in London, its first close above $50 in nearly two months.US benchmark West Texas Intermediate for September delivery gained $1.43 to $48.22 a barrel on the New York Mercantile Exchange.Thursday's gains continued the upward trend in place for most of ...

Markets - Energy - Americas

Oil up 2pc, Brent over $50/bbl on OPEC freeze talk NEW YORK: Oil prices rose on Thursday for a sixth straight day, with Brent crude rising above $50 for the first time in six weeks as the world's biggest producers prepared to discuss a possible freeze in production levels.Brent traded at $50.77 a barrel, a 1.9 percent gain, by 12:32 p.m. ET (1632 GMT). The session high of $50.87 was its highest since June 23. US crude rose $1.09 to $47.88 per barrel, a 2.3 ...

Markets - Energy - Americas

First Suezmax oil tanker passes through expanded Panama Canal HOUSTON: The first Suezmax crude oil tanker began transit through the newly expanded Panama Canal on Thursday, an official confirmed to Reuters. The Aegean Unity, a Greece-flagged Suezmax vessel coming from the US West Coast, entered the Canal Thursday morning. Suezmax-sized vessels, which can carry some 1 million barrels of oil, were unable to pass through the canal prior its expansion, which was inaugurated at the end of June. Copyright Reuters, 2016 ...

Markets - Energy - Americas

Oil up, Brent over $50/bbl at 6-week high on OPEC freeze talk NEW YORK: Oil prices rose for a sixth straight day, with Brent crude touching a six-week high above $50 a barrel on Thursday as the world's biggest producers prepared to discuss a possible freeze in production levels.Brent traded at 50.46 a barrel, a 1.2 percent gain, by 10:56 a.m. ET (1456 GMT) after touching its highest since July 4 at $50.50.U.S. light crude oil rose $1.09 to $47.88 per barrel, a 2.3 percent gain. The ...