04292016Fri
Last update: Fri, 29 Apr 2016 03pm

Americas

Markets - Energy - Americas

Oil steadies after early slide after Brussels attacks NEW YORK: Oil prices were steady on Tuesday as shares on Wall Street pared losses and the euro recovered against the dollar after deadly blasts in Brussels prompted an initial flight risk from financial markets.Brent was up 24 cents at $41.78 a barrel by 10:53 a.m. EDT (1453 GMT), after hitting a session low of $40.97 earlier.U.S. crude rose 12 cents to $41.64, recovering from an intraday low of $40.77.Stock prices on Wall Street were flat along with the euro, rebounding from earlier weakness.Oil prices have traded in concert with equities for most of this year. A weakening dollar against the euro has also made greenback-denominated oil more affordable for buyers using the single currency."Oil is very much distracted by macro events today, gauging the sentiment in broader markets and taking its lead from that," said Matthew Smith, director of commodity research at the New York-headquartered Clipper Data.Thirty-four people were ...

Markets - Energy - Americas

Oil up on Cushing drawdown data; eyes on US output NEW YORK: Oil prices rose on Monday as data showed a drawdown at the Cushing, Oklahoma delivery hub for U.S. crude and ahead of front-month contract expiry in the U.S. crude futures.The market's upside was limited by concern that U.S. oil drillers could ramp up output again after a two-month long recovery in crude prices, analysts said.Brent crude futures for May delivery, the front-month, were up 10 cents at $41.30 a barrel by 12:05 p.m. ...

Markets - Energy - Americas

Average US gas prices rise nearly 25 cent in four weeks NEW YORK: The average price of a gallon of gasoline in the United States gained nearly 25 cents in the past four weeks, according to a survey released on Sunday. Regular-grade gas climbed to around $2.02 per gallon in the March 20 survey, from $1.77 on Feb. 19, survey publisher Trilby Lundberg said in an interview. The chief cause of the gasoline price rise was the recent increase in crude oil prices due in part ...

Markets - Energy - Americas

Cheaper fuel slows inflation in Canada OTTAWA: Consumer prices in Canada rose 1.4 percent in February compared to a year ago -- but fell 0.6 percent compared to January due mainly to the fall in fuel prices, the government reported Friday.Excluding gasoline, the consumer price index increased 1.9 percent year on year in February. That followed a 2.0 percent increase the previous month, Statistics Canada said.Gasoline prices were down 13.1 percent year on year in February.That was the biggest contributing factor ...

Markets - Energy - Americas

US oil above $40 first time this year NEW YORK: Oil prices rallied for a second straight day Thursday, pushing US crude above $40 a barrel for the first time this year.Prices were lifted by a sharp drop in the dollar and revived optimism that producers would strike a deal next month to freeze output.US benchmark West Texas Intermediate for delivery in April jumped $1.74 (4.5 percent) to $40.20 a barrel on the New York Mercantile Exchange. It was the first time WTI ...

Markets - Energy - Americas

Colombia February output down 7.28pc year-on-year BOGOTA: Colombia produced an average of 955,000 barrels of crude oil per day (bpd) in February, the Mines and Energy Ministry said late on Tuesday.The output was down 7.28 percent from the year before, according to Reuters calculations. It did not give a reason for the decline.Natural gas production fell 10.5 percent year on year to 1.065 billion cubic feet per day.State-run Ecopetrol produces more than one-half of Colombia's oil, while Toronto-listed Pacific Exploration and ...

Markets - Energy - Americas

Oil up 4pc as OPEC firms up meet, US gasoline demand soars NEW YORK: Oil prices rose about 4 percent on Wednesday, resuming their rally from a two-day slide, after major oil producers firmed up plans to meet in Qatar to discuss an output freeze and as US crude stockpiles grew less than expected and gasoline demand soared. The oil market rebounded after a 5 percent slide this week after Qatari oil minister Mohammed Bin Saleh Al-Sada said producers from within and outside the Organization of the ...