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Oil edges higher on Russia, Libya supply concerns NEW YORK: Brent crude oil edged higher on Monday, as supply concerns over the Ukraine crisis and turmoil in Libya outweighed weaker-than-expected Chinese data that pointed to slowing demand in the world's biggest energy consumer. China's manufacturing activity shrank in March, a preliminary private survey showed, adding to a string of weak indicators this year that have reinforced concerns about a slowdown. The government aims to reduce the economy's dependence on exports, but investors are worried that growth is cooling faster than expected. Oil, however, was underpinned by supply concerns with the risk that a confrontation with the West over Ukraine could lead to a disruption of energy supplies from Russia, a major supplier of oil and gas to Europe. Libyan oil exports are also running at more than 1 million barrels per day (bpd) below capacity thanks to civil unrest. The US benchmark West Texas Intermediate (WTI) gained support ...

Oil spill cleanup efforts continue off Texas Gulf shore TEXAS CITY: Four skimming boats surrounded a partially submerged barge on Sunday at the entrance to the Houston Ship Channel, working to clean up fuel spilled from the vessel into Galveston Bay after a Saturday collision with a cargo ship, according to a Reuters eyewitness.The Houston Ship Channel remained shut on Sunday to contain the environmental damage and prevent additional collisions, said Coast Guard Capt. Brian Penoyer, who commands the maritime safety service's units in ...
U.S. natgas futures end week 2.5pc lower on spring transition NEW YORK: U.S. natural gas futures ended the week on a low note, slipping 1.3 percent Friday and 2.5 percent for the week as milder forecasts dispelled expectations for continued strong heating demand."Anticipation of mild spring temperatures coming in just five days is causing traders to sell off the April contract," said Aaron Calder, senior market analyst at Gelber & Associates.Front-month natural gas futures on the New York Mercantile Exchange fell 5.6 cents, or 1.3 ...
Oil prices higher on Ukraine tensions before weekend NEW YORK: Global oil prices pushed modestly higher Friday on tensions in Ukraine, but gains were tempered by the dollar's continued strength.New York's main contract, West Texas Intermediate (WTI) for delivery in April delivery, added 56 cents from Thursday's close to $99.46 a barrel.Brent North Sea crude for May gained 47 cents to $106.92 per barrel."The oil market is being driven higher by increased fears of a disruption in crude supplies following the expansion of ...
Brent, US oil rise more than $1 on sanctions NEW YORK: Crude oil futures surged more than $1 on Friday as traders scrambled to cover short positions ahead of the weekend after US sanctions against Russia, the world's second-largest oil exporter, renewed fears of a supply disruption.The European Union imposed sanctions against the Russian deputy prime minister, two aides to President Vladimir Putin and nine others on Friday. Those added to the nearly two dozen prominent Russians Washington sanctioned Thursday, including Gennady Timchenko, co-founder ...
US oil jumps on pipeline expansion news NEW YORK: US oil prices surged on Tuesday on news of a key pipeline expansion that will help to draw down bulging crude supplies at the Cushing depot.New York's main contract, West Texas Intermediate (WTI) for delivery in April, jumped $1.62, or 1.7 percent, to close at $99.70 a barrel.In London trade, Brent North Sea crude for May delivery added 55 cents to finish at $106.79 a barrel.The US benchmark contract surged higher on news ...
US oil rises more than $1 on equities, Ukraine NEW YORK: US crude oil futures rose by more than $1 on Tuesday as strong gains in equities outweighed forecasts for another build in domestic supplies, while Brent was bolstered by continuing tensions in Ukraine.Markets were reassured by comments from Russian President Vladimir Putin that he would not seize other regions of Ukraine outside Crimea, though news of a shooting at a military facility on the outskirts of the Crimean capital showed the Ukraine crisis ...

 



 
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Annual2012/13
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