05052016Thu
Last update: Thu, 05 May 2016 11am

Americas

Markets - Energy - Americas

Oil falls after Qatar meeting disappoints; stocks up NEW YORK: Oil prices slumped on Monday after producers failed to agree on a plan to curb global supply at a meeting in Qatar, while world stock markets edged higher.Wall Street and European stocks rebounded modestly after earlier losses spurred by the failure of major oil-producing nations to agree on an output freeze in an oversupplied world market.Health care shares led the advance on the U.S. benchmark S&P 500 index, while shares of International Business Machines climbed 0.6 percent ahead of its results.The decline in oil prices damped down a more optimistic tone that had prevailed for much of the past week.Some 18 oil-exporting nations, including OPEC members, had gathered in Doha, the capital of Qatar, over the weekend in an attempt to agree to stabilize output at January levels until October 2016. The pact fell apart after Saudi Arabia demanded that Iran join in.Brent crude futures fell 0.6 percent ...

Markets - Energy - Americas

Oil steadies as Kuwait strike offsets scuttled output freeze NEW YORK: Oil prices steadied on Monday after a Kuwaiti workers' strike that slashed more than half the country's oil output offset worries about a scuttled major producers' freeze plan that sent the market tumbling earlier.The strike cut more than 60 percent Kuwait's crude output, lending support to price benchmarks such as Brent and Dubai, and tightened refined product supplies as the country scales back refinery runs and fuel exports.Brent had tumbled as much as ...

Markets - Energy - Americas

Oil down ahead of producer meeting; dollar slips NEW YORK: Crude oil prices fell on Friday ahead of a weekend meeting that could yield an output freeze by major producers, while the U.S. dollar and stocks across the globe edged lower but posted weekly gains.On Wall Street, energy stocks led the market slightly lower as oil fell, and Apple shares also weighed after Nikkei business daily reported Apple will continue its reduced production of iPhones in light of sluggish sales.The S&P 500, however, ...

Markets - Energy - Americas

Exxon aims for weekend restart of Baytown crude unit HOUSTON: Exxon Mobil hopes to restart the second-largest crude distillation unit at its 560,500 barrel per day (bpd) Baytown, Texas, refinery over the weekend, sources familiar with plant operations said on Wednesday. The 135,000 bpd CDU, called Pipe Still 7, shut down on Wednesday morning due to a malfunction on a feed pump, the sources said. Energy industry intelligence service Genscape said a furnace stack on the unit was shut at 7:19 a.m. CDT (1219 ...

Markets - Energy - Americas

Oil prices fall as concerns over Doha 'freeze' meeting grow NEW YORK: Oil futures fell from fresh four-month highs in choppy trading on Wednesday as comments from Russia's energy minister added to doubts a producer meeting set for Sunday in Doha to discuss freezing output would yield a positive outcome.Prices fell after Reuters reported that Russian oil minister Alexander Novak told a closed-door briefing that a deal on an oil output freeze scheduled to be signed this month in Doha will be loosely framed with ...

Markets - Energy - Americas

US crude stocks soar while gasoline falls more than expected: EIA NEW YORK: US crude stocks rose last week, soaring more than three times as much as expected, even as gasoline inventories fell more than expected, while distillate stockpiles built, data from the Energy Information Administration showed on Wednesday.Crude inventories rose by 6.6 million barrels in the last week, compared with analysts' expectations for an increase of 1.9 million barrels.Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.8 million barrels, EIA said.Refinery crude runs ...

Markets - Energy - Americas

Oil prices ease on strong US gasoline demand NEW YORK: Oil futures gave up most of their losses and traded little changed on Wednesday as data showed gasoline demand soared in the United States last week, offseting the impact of a larger-than-expected build in crude inventories.The figures come as the market braces for the outcome of a producer meeting set for Sunday in Doha to discuss freezing output, widely expected to do little to trim oversupply.Brent crude was down 5 cents at $44.64 ...