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U.S. crude rises more than $2 on expiry, weather NEW YORK: U.S. crude oil futures rose by over $2 a barrel on Tuesday to hit a fresh four-month high as high demand and cold weather drove gasoline and heating oil prices higher while traders eyed contract expirations later this week.Brent crude oil rose to its highest level this year as Libyan output fell yet again, rebels in South Sudan seized control of the capital in a key oil-producing state and protests in Venezuela showed renewed instability."Geopolitics are back at the forefront and some of the longer-term shorts that have been hanging on have gotten out ahead of the expiration," said Dominick Chirichella, senior partner at Energy Management Institute in New York.A report from industry intelligence provider Genscape said stocks at Cushing, Oklahoma, fell by 1.4 million barrels since last Tuesday, according to traders.The U.S. dollar traded near a six-week low against a basket of currencies on Tuesday, which also ...

US natural gas futures rise NEW YORK: US natural gas futures prices flirted with a four-year high on Tuesday as forecasts for below-normal temperatures across the United States were expected to boost demand and shrink end-of-season stockpiles to their lowest level in 11 years.Unyielding cold weather this winter has shattered seasonal records and pushed natural gas prices as high as $5.73 during the first week of February, the highest price since January 2010.Gas for March delivery was trading above $5.50 ...
US natgas futures end week up 9pc as storage dwindles NEW YORK: US natural gas futures meandered on Friday, ending little changed as traders awaited more direction from late winter weather forecasts.For the week, however, futures ended 9 percent higher, bolstered by the rapidly shrinking amount of gas in storage.Warmer-than-average temperatures forecast by MDA weather services would bring temperatures 15 degrees above average to the lower-central and eastern United States. Those regions have been gripped by far colder-than-average temperatures for most of the winter, moving ...
Oil prices hold firm after week's solid gains NEW YORK: Oil prices held up Friday despite a push to take profits at the end of a week in which crude futures reached multi-month highs on improved demand prospects.New York's main contract, West Texas Intermediate (WTI) for delivery in March, edged five cents lower from Thursday's close to $100.30 a barrel.Europe's benchmark contract, Brent North Sea crude for April delivery, picked up 56 cents to $109.08 a barrel in London deals.Oil prices had reached ...
US oil pares gains on stock build, Brent spread narrows NEW YORK: US oil rose on Wednesday but government data showing a larger-than-expected build in crude inventories pulled futures off the highs, with expectations for dwindling seasonal demand for heating fuels also helping curb the gain. Brent, though moderately higher, was pressured as traders sold the European benchmark and bought WTI after the US Department of Energy reported a large draw in stocks at the US futures contract benchmark delivery point. Brent drew support from ...
Petroperu tenders to buy two cargoes of ULSD HOUSTON: State-run Petroperu launched a tender to buy two 290,000 barrel cargoes of ultra low-sulfur diesel (ULSD) to be received in March at three different ports in Peru, according to an invitation seen by Reuters on Tuesday. Petroperu uses the open market both for buying and selling refined products. In January it sold one 220,000 barrel cargo of fuel oil and one 200,000 barrel cargo of virgin naphtha for delivery this month. The first ULSD ...
US approves exports from Cameron LNG terminal WASHINGTON: The US Energy Department on Tuesday approved exports from Sempra Energy's Cameron liquefied natural gas (LNG) project in Louisiana as the Obama administration moves forward with its goal of expanding the global market for the fuel. The conditional approval of exports from the terminal to countries with which the United States does not have free trade agreements, such as India and Japan, was the sixth approval by the department since 2011, and ...


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