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US housing data lifts New York oil price  NEW YORK: World oil prices closed mixed Wednesday as the New York contract clawed back into positive territory, lifted by an encouraging report on US housing construction.   New York's West Texas Intermediate (WTI), or light sweet crude for November delivery, edged up three cents from Tuesday to $92.12 a barrel.   In London, Brent North Sea crude for delivery in December, shed 78 cents to settle at $113.22 a barrel.   The WTI contract held above $92 after official data showed US housing starts and building permits jumped to their highest level in more than four years in September, fresh evidence of recovery in the distressed home market.   The strong housing numbers in the world's biggest oil-consuming country outweighed a weekly report on US crude oil stockpiles that had sent the WTI contract lower.   The US Department of Energy announced that crude supplies increased by 2.86 million barrels in the week ending October 12, a gain more ...

US weekly power output off 1.7pc yr/yr: EEI  NEW YORK: Power production in the continental United States for the week that ended Oct. 13 fell 1.7 percent from the same week in 2011 to 70,300 gigawatt hours (GWh), according to data released on Wednesday by the Edison Electric Institute (EEI).   Output declined in seven of the nine regions.   The biggest decline in output was in the Pacific Southwest region, which declined 5.6 percent to 5,341 GWh. Output in the Rocky Mountain, meanwhile, climbed the most, ...
Canada crude prices continue to weaken on refinery work CALGARY: Canadian cash crude prices weakened on Tuesday as refinery work pared demand.   November Western Canada Select heavy grade last sold for $16.50 per barrel under the West Texas Intermediate benchmark, compared with a settlement price of $15.50 per barrel under WTI on Monday, according to Shorcan Energy Brokers.   Light synthetic crude for November last traded at a $3.35 per barrel premium to WTI, down from the Monday settlement price of $4.30 above the benchmark.   Prices have weakened ...
US spot natgas prices slip on moderating weather  NEW YORK: Most US spot natural gas prices reversed course and moved lower on Monday, after rising for four straight sessions, as forecasts for moderating weather looked set to cut demand.   Prices at benchmark Henry Hub came off their 2012 high.   Cash prices kept in step with New York Mercantile Exchange natural gas futures, which settled 3.46 percent lower at $3.486 per million British thermal units (mmBtu), down 12.5 cents.   Gas for delivery on Tuesday at Henry Hub ...
Crude oil prices mixed, Brent leaps  NEW YORK: Crude oil prices closed mixed Monday as investors weighed weak US data against supply concerns spurred by Middle East tensions over Iran and the Syria conflict.   New York's main contract, light sweet crude for November delivery, closed essentially flat, with investors torn between an upbeat US retail sales report and disappointing data on manufacturing and business inventories.   The benchmark West Texas Intermediate (WTI) contract edged down one cent from Friday's close to $91.85 a barrel.   The ...
Ecuador to fight oil dispute fine QUITO: Ecuador said Saturday it will fight to avoid paying a fine to Occidental Petroleum as compensation for canceling a contract with the US oil giant.   "We will continue fighting to not pay a penny to this abusive transnational corporation," said President Rafael Correa, accusing the company of "wanting to deliberately defraud the state."   Earlier this month, the International Center for Settlement of Investment Disputes, which is a branch of the World Bank, released a ruling declaring ...
Oil prices wobble as IEA cuts demand growth forecasts  NEW YORK: Oil prices slipped Friday as the International Energy Agency cut its global crude demand growth forecast, sparking some profit-taking after gains that were prompted by geopolitical concerns in Syria.   New York's main contract, WTI light sweet crude for November delivery, lost 21 cents to $91.86 a barrel on the Nymex exchange.   Brent North Sea crude for November sank $1.09 to $114.73 a barrel in late London trade.   "The bearish IEA report set the tone for today's ...


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