07252016Mon
Last update: Mon, 25 Jul 2016 04pm

Americas

Markets - Energy - Americas

Canada's energy regulator starts review of oil pipeline to east VANCOUVER: Canada's energy regulator on Thursday officially launched its 21-month review of TransCanada Corp's Energy East pipeline, which would carry crude from Alberta's oil sands to refineries and export terminals in Eastern Canada. The National Energy Board, which has faced public criticism over its reviews of major energy infrastructure projects, said the Energy East review will be unique in that the general public will be given the opportunity to provide input. The review will also consider upstream gas emissions, following new rules introduced by the ruling Liberals in January on the grounds that public trust needed to be restored in the process for assessing big energy projects.A final recommendation to the federal government, including any proposed conditions on construction, is expected by March 2018, though the regulator said the legislated timeline could be extended if needed. "This marks an important milestone for the project and is a culmination of TransCanada's ...

Markets - Energy - Americas

Oil down on Brexit worry and ahead of US inventory data NEW YORK: Oil prices extended their losses for the fifth straight day on Wednesday, the longest losing streak since February, on fears of a dollar rally if Britain leaves the European Union and ahead of the release of US crude inventory data.Also weighing on the market was Goldman Sachs' note underlining the importance of crude prices remaining below $50 a barrel for the market to achieve a much-needed supply deficit in the second half of ...

Markets - Energy - Americas

US Midwest gasoline stocks draw by most since 2014: EIA NEW YORK: US Midwest gasoline stocks drew by the most last week since March 2014, according to data from the US Energy Information Administration released on Wednesday. Midwest gasoline stocks fell by 2.1 million barrels to 51 million barrels, data showed. Copyright Reuters, 2016 ...

Markets - Energy - Americas

Oil down 3 pct as U.S. drillers add rigs, strong dollar weighs NEW YORK: Oil prices settled down 3 percent on Friday after data showing the U.S. oil drilling rig count rising for a second week in row and a stronger dollar weighed on demand for greenback-denominated crude futures.A slide of more than 1 percent in Wall Street share prices , the largest since April, also prompted pre-weekend profit-taking in Brent and U.S. crude futures, which had rallied earlier in the week.The dollar jumped its most in ...

Markets - Energy - Americas

Speculators boost US natural gas net longs -CFTC US natural gas speculators boosted their net longs for a second consecutive week, betting prices will rise as production eases and power demand picks up to absorb some of the record high amount of fuel left in inventories after a warm winter.Speculators in four major NYMEX and ICE markets added to their bullish bets by 48,893 contracts to 54,390 in the week to June 7, the US Commodity Futures Trading Commission said on Friday.That was ...

Markets - Energy - Americas

Oil sinks as investors flee risk on growth worries NEW YORK: Swept up in a global markets selloff on concerns about economic growth, oil prices tumbled Friday as investors snared profits from a recent rally.Risk aversion dominated ahead of the Federal Reserve's US interest rate decision next Wednesday and Britain's vote on leaving the European Union the following week."We definitively have seen concerns about the global economic outlook... generally speaking there's a kind of flight to quality," said Phil Flynn of Price Futures Group. ...

Markets - Energy - Americas

Oil down ahead of US rig count; strong dollar weighs NEW YORK: Oil prices fell nearly 2 pct on Friday as investors braced for another likely rise in the US oil rig count this week and as a strong dollar again weighed on demand for crude futures denominated in the greenback. A slide in equity prices on Wall Street also pressured futures of Brent and US crude's West Texas Intermediate (WTI). More sabotage of Nigeria's oil industry by rebels had limited losses in Brent and ...