05282016Sat
Last update: Sat, 28 May 2016 12pm

Americas

Markets - Energy - Americas

Imported crude congests US Gulf storage, pressuring prices NEW YORK: A slew of crude imports from Iraq, Angola and other countries has storage tanks in the eastern US Gulf bulging, pressuring physical prices, causing port congestion and delaying deliveries into Louisiana, traders said. With arrivals into the world's biggest energy market this month set to top April levels, traders expect the strain on US infrastructure could move inland, further swelling inventories already at record highs.The glut of domestic crude has kept growing even as futures prices rallied nearly 20 percent in April. Market watchers said the issue in Louisiana could dampen prices ahead.Shipments have already boosted stockpiles in Louisiana, home to some of the largest US refineries like Marathon Petroleum Corp's 522,000 barrel per day Garyville refinery and Exxon Mobil Corp 's 502,500-bpd Baton Rouge refinery.Tanks in the St. James region have as much as 22 million barrels, just 700,000 barrels shy of its record in March, according ...

Markets - Energy - Americas

Oil jumps as Canada fire, Libya violence unleash supply fears NEW YORK: Oil prices jumped about 2 percent on Thursday, resuming their rally from last week, as a raging wildfire cut production from Canada's oil sands region and escalating Libyan violence raised more worries about immediate oil supplies than a longer-term glut.While the oil sands facilities are not in the fire's path, the wildfire that raged unchecked in the city of Fort McMurray in Alberta knocked out as much as a third of the nation's ...

Markets - Energy - Americas

Oil up on fire curbs Canada output; higher dollar, stockpiles cap gains NEW YORK: Oil prices surged on Thursday after a raging wildfire near Canada's oil sands region curbed output that mainly flows to the United States, before settling off their highs as a rebounding dollar and a huge U.S. stockpile build cut into gains.While the oil sands facilities are mostly to the north of the wildfire in city of Fort McMurray in Alberta that is spreading south, as much as a third of Canada's daily crude ...

Markets - Energy - Americas

Oil jumps as Canada fire, Libya violence unleash supply fears NEW YORK: Oil prices jumped about 2 percent on Thursday, resuming their rally from last week, as a raging wildfire cut production from Canada's oil sands region and escalating Libyan violence raised more worries about immediate oil supplies than a longer-term glut. While the oil sands facilities are not in the fire's path, the wildfire that raged unchecked in the city of Fort McMurray in Alberta knocked out as much as a third of the ...

Markets - Energy - Americas

US crude production sinks to 17 month low WASHINGTON: US oil output sank last week by more than 100,000 barrels a day to its lowest level since September 2014 as producers cut back in the face of low prices.But a rise in imported crude helped drive commercial stockpiles higher, the US Energy Department reported Wednesday, sending crude prices tumbling. US domestic production dropped to 8.83 million barrels a day in the week to April 29, compared to 8.94 million a week earlier, department ...

Markets - Energy - Americas

Oil prices drift as US crude output falls NEW YORK: Oil prices drifted sideways Wednesday with US futures slightly higher but London slipping amid news that US oil output fell by another 100,000 barrels a day last week.US crude and gasoline stockpiles also increased significantly -- a bearish signal for the market -- but US prices were supported by a major wildfire in Alberta, Canada, which has threatened production from the oil sands region.US benchmark WTI crude for delivery in June finished the ...

Markets - Energy - Americas

Venezuelan crude sales to United States fell 8pc in April HOUSTON: Venezuelan crude sales to the United States declined 8.3 percent in April to 734,700 barrels per day (bpd) compared with the same month of 2015, amid delays at PDVSA's main ports, according to Thomson Reuters trade flows and vessel tracking data.State-run oil firm PDVSA and its joint ventures sent a total of 45 crude cargoes to customers in the United States last month versus 54 cargoes in April of 2015 and 52 in March.Equipment ...