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Last update: Tue, 31 May 2016 05pm

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Markets - Energy - Americas

Oil up 1pc after swing on mixed data; US crude at Nov highs NEW YORK: Oil prices rose 1 percent in volatile trade on Thursday, with US crude hitting six-month highs as investors weighed a forecast for tighter global supplies against signs of another storage build at the hub for US crude futures.Worries of a major outage in Nigerian crude also boosted the market, some traders said."It was a mixed bag, with both longs and shorts trying to defend positions based on the data that appealed most to them. The bulls prevailed," said Phil Flynn, analyst at the Price Futures Group in Chicago.Brent crude futures settled up 48 cents at $48.08 per barrel.US crude's West Texas Intermediate (WTI) futures rose 47 cents to settle at $46.70. It hit a six-month high of $47.02.With that, Brent was on track for a weekly rise of 6 percent and WTI 4 percent, continuing a broad uptrend that has added about $20 to a barrel from lows ...

Markets - Energy - Americas

Oil jumps on first US drawdown since March; Brent up 4pc NEW YORK: Oil jumped on Wednesday, with Brent up more than 4 percent for a second day in a row, after the U.S. government unexpectedly said crude inventories fell the first time since March, adding to concerns over supply outages in Canada and Nigeria.The U.S. Energy Information Administration (EIA) said crude inventories fell 3.4 million barrels last week, compared with analysts' expectations for an increase of 714,000 barrels and the American Petroleum Institute's (API) build ...

Markets - Energy - Americas

US oil hits 2016 peak on surprise rise in inventories NEW YORK: Oil prices rallied Wednesday, with US crude finishing at a new 2016 high after official data showed a surprise drop in the country's commercial crude inventories.The Department of Energy said that crude stocks slid by 3.4 million barrels last week. Analysts' consensus had been for a rise of 750,000 barrels.And supplies of gasoline and distillates such as diesel and heating fuel fell more than expected, according to the department data.Matt Smith of ClipperData ...

Markets - Energy - Americas

Oil jumps 3pc after first US crude draw in 6 weeks NEW YORK: Oil prices jumped about 3 percent on Wednesday after the US government reported crude inventories fell unexpectedly for the first time since March, adding to concerns over supply disruptions in Canada and Nigeria. The US Energy Information Administration (EIA) said crude inventories fell 3.4 million barrels last week, compared with analysts' expectations for an increase of 714,000 barrels and the American Petroleum Institute's (API) build of 3.5 million barrels in preliminary data issued ...

Markets - Energy - Americas

Oil surge, improved Chinese data boost Wall Street NEW YORK: US shares got a solid boost on Tuesday from an upturn in Chinese inflation and a possible deal on the next stage of Greece's bailout to avert a looming crisis.Markets also got a boost from a rebound in commodities led by oil prices.Banks, industrial firms like Caterpillar and Boeing and other blue-chips led the rally, while Amazon was the best gainer among large-cap stocks after it laid out a challenge to Google-owned YouTube ...

Markets - Energy - Americas

Oil up 3pc; Canada, Nigeria outages offset US stock build worry NEW YORK: Oil prices rose about 3 percent on Tuesday, recovering most of the previous session's losses, as supply disruptions of 2.5 million barrels per day in Canada and elsewhere offset concerns about growing record high U.S. crude stockpiles.The U.S. government's forecast of higher oil demand for this year was also supportive, traders said, although the rally in crude was likely to prevent production from falling as sharply in 2017 as predicted earlier.A series of ...

Markets - Energy - Americas

Oil jumps; Canada, Nigeria outages bolster prices NEW YORK: Brent jumped more than 4 percent on Tuesday while U.S. crude settled up more than 2 percent, after a late burst of buying driven in part by expectations that record U.S. crude inventories would not swell by as much as they have in recent weeks.Crude supply outages in Canada, Nigeria and elsewhere boosted prices. Brent's gain was its biggest one-day percentage move in a month.The American Petroleum Institute (API) was due to report ...