09272016Tue
Last update: Tue, 27 Sep 2016 11pm

Americas

Markets - Energy - Americas

Oil picks up after rout, but US crude still below $40 NEW YORK: Oil prices recovered some lost ground Tuesday after a sharp fall sparked by worries about China's faltering economy, the world's largest energy consumer.US benchmark West Texas Intermediate (WTI) for October delivery rose $1.07 to $39.31 a barrel on the New York Mercantile Exchange, after finishing below $40 Monday for the first time in six years.In London, Brent North Sea crude for October, the international benchmark, finished at $43.21 a barrel, up a modest 52 cents, a day after dropping to its lowest level since March 2009."Although we are getting a solid rebound thus far today, there still appears to be a strong tilt towards bearish sentiment from a bigger-picture perspective," said Matt Smith, head of commodity research at US firm ClipperData.Smith said the market remained focused on the robust production of the Organization of the Petroleum Exporting Countries, in particular cartel kingpin Saudi Arabia, and of the United ...

Markets - Energy - Americas

Oil sinks as China fears roil markets NEW YORK: Crude oil prices sank Monday after a plunge in Chinese equities raised fresh fears about China's faltering economy, the largest consumer of energy, and its impact on the global economy.The Shanghai stock market's 8.5 percent dive Monday, its steepest in eight years, roiled markets worldwide, hammering stocks, the dollar and commodities.Oil prices struck new six-year lows in the sell-off as concerns mounted about demand in China, the world's second-largest economy and consumer of ...

Markets - Energy - Americas

US September crude ends higher at expiry, Brent slumps NEW YORK: Expiring front-month US crude prices settled higher on Thursday in volatile trading after slumping to a fresh 6-1/2-year low as a supply glut and concerns about China's economy pressured Brent crude.A weaker dollar and the formation of the first hurricane of the 2015 Atlantic season were supportive to crude, even with Hurricane Danny still far from affecting any land or oil infrastructure.U.S. futures retested support near $40 a barrel early in the session, ...

Markets - Energy - Americas

US oil may fall to $39.30 SINGAPORE: US oil may test a support at $40.15 per barrel, a break below which will cause a loss to the next support at $39.30.These supports are identified respectively as the 538.2 percent and 561.8 percent Fibonacci projection levels of a downtrend from the June 30 high of $59.69. Wave pattern shows that oil is riding on an extended wave 5, the bottom of which is somewhat difficult to be predicated.Resistance is at $41.01, the ...

Markets - Energy - Americas

Oil prices higher ahead of US inventory data NEW YORK: Oil prices rose modestly Tuesday as traders looked ahead to weekly US commercial inventory data that could shed insights into demand in the world's largest consumer of crude oil.US benchmark West Texas Intermediate for September delivery closed at $42.62 a barrel on the New York Mercantile Exchange, up 75 cents from Monday's settlement.Brent North Sea crude for October, the international benchmark, spent most of the day in the red but managed to eke ...

Markets - Energy - Americas

Oil prices continue downward slide NEW YORK: Crude oil prices fell Monday, deepening a long slide as traders expect US production will remain strong, adding to abundant global supplies.US benchmark West Texas Intermediate (WTI) for September delivery closed at $41.87 a barrel, down 63 cents from Friday's settlement after a technical modest rebound Friday.In London, Brent North Sea crude for October, the international benchmark, fell 45 cents to $48.74 a barrel in its first day of trade."Oil prices are starting ...

Markets - Energy - Americas

Oil near 6-1/2 year low on Japan slowdown, China worry NEW YORK: Oil prices fell on Monday with U.S. crude near 6-1/2-year lows after No. 3 consumer Japan suffered an economic contraction in the second quarter and China's slowdown continued to weigh on oil market sentiment.A stronger dollar after the fastest pace of growth in U.S. industrial output in eight months also made greenback-denominated commodities, including crude, less affordable for holders of other currencies such as the euro.U.S. crude futures were 5 cents down at ...