Americas
Monday, 18 March 2013 21:20
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NEW YORK: US natural gas futures rose to a 17-month high late Sunday as forecasts for colder weather and robust electricity generation boosted demand.Front-month April natural gas futures on the New York Mercantile Exchange rose more than 2 percent to $3.965 per million British thermal units in electronic trading, the highest level since October 2011, according to Reuters data.Gas prices have risen about 25 percent over the past month as lingering winter weather across the country and bigger-than-normal draws from storage have tightened the typically well-supplied market."Strong end-of-season weather fundamentals in conjunction with high levels of electric power sector demand due to nuclear power plant maintenance continues to drive gas prices in search of top," said Addison Armstrong, director of market research at Tradition Energy in Stamford, Connecticut. Copyright Reuters, 2013 ...
SAN FRANCISCO: Schlumberger Ltd, the world's largest oilfield services company, warned on Monday that North American activity was weaker than expected in the first quarter as US drillers returned to work at a slower pace than the company predicted.Shares of Schlumberger fell 2.6 percent to $77.34 in morning trading on the New York Stock Exchange.Schlumberger Chief Executive Paal Kibsgaard on Monday said asset utilization recovered from a holiday slowdown and that the lower cost of ...
NEW YORK: US natural gas futures rose about 2 percent early on Monday, having surged to their highest mark in 17 months.Cold weather in consuming regions of the country, a string of supportive weekly storage withdrawals, above-normal nuclear power plant outages and technical buying have combined to lift nearby gas futures more than 26 percent in the past month."Strong end-of-season weather fundamentals in conjunction with high levels of electric power sector demand due to nuclear ...
WASHINGTON: US producer prices months in February rose by the most in five as gasoline prices spiked, but there was little sign of a broader increase in inflation pressures.The Labor Department said its seasonally adjusted producer price index increased 0.7 percent last month after advancing 0.2 percent in January.The rise in prices received by farms, factories and refineries was in line with economists' expectations.In the 12 month through February, wholesale prices were up 1.7 percent, ...
NEW YORK: US crude inventories rose last week on increased imports, and gasoline fell as refineries processed less oil, government data from the Energy Information Administration showed on Wednesday.Crude inventories rose 2.62 million barrels in the week to March 8, compared with analysts' expectations for a rise of 2.3 million barrels.The rise came as crude imports increased by 227,000 barrels per day (bpd) to 7.49 million bpd.Refinery utilization fell 1.2 percentage points to 81.0 percent ...
NEW YORK: Brent crude oil prices fell on Monday, pressured by disappointing economic data from world No. 2 oil consumer China, while technical support and a dollar pullback limited losses and helped US crude settle slightly higher.China's National Bureau of Statistics said on Saturday that the consumer price index rose 3.2 percent in February from a year earlier, versus expectations of a 3.0 percent rise, while annual industrial production growth in January and February, combined ...
NEW YORK: Global oil prices were mixed Monday as supplies remained firm and industrial production in China showed signs of a slowdown, possibly signalling a weaker demand for energy, analysts said.In New York trade, the benchmark West Texas Intermediate crude for April delivery edged up 11 cents from Friday to finish at $92.06.In London trade, Brent North Sea crude for April dropped 63 cents to $110.22 a barrel.The US contract followed Brent lower for most ...
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