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Last update: Sun, 31 Jul 2016 01am

Americas

Markets - Energy - Americas

Venezuela still hopes for OPEC, non-OPEC deal as Iran oil output rises RUSSIA: Venezuelan oil minister Eulogio del Pino said on Thursday fellow OPEC member Iran would reach pre-sanction oil output levels by September, allowing a revival of talks on a global oil production freeze. Speaking to Reuters on the sidelines of Russia's main economic forum in St. Petersburg, Del Pino said the freeze idea could be discussed at an informal meeting of OPEC and non-OPEC producers in Algeria in September. He also said he would propose OPEC formally adopts a policy of "production ranges", which would allow output of country members to fluctuate by a certain amount. That would allow the organisation not to go back to discussing the thorny issue of a production ceiling and individual production quotas, he said. "We will have production ranges and will monitor them constantly. That would give flexibility to correct things real time," he added. Venezuela has suffered badly from the oil price collapse ...

Markets - Energy - Americas

Canada's energy regulator starts review of oil pipeline to east VANCOUVER: Canada's energy regulator on Thursday officially launched its 21-month review of TransCanada Corp's Energy East pipeline, which would carry crude from Alberta's oil sands to refineries and export terminals in Eastern Canada. The National Energy Board, which has faced public criticism over its reviews of major energy infrastructure projects, said the Energy East review will be unique in that the general public will be given the opportunity to provide input. The review will also ...

Markets - Energy - Americas

Oil down on Brexit worry and ahead of US inventory data NEW YORK: Oil prices extended their losses for the fifth straight day on Wednesday, the longest losing streak since February, on fears of a dollar rally if Britain leaves the European Union and ahead of the release of US crude inventory data.Also weighing on the market was Goldman Sachs' note underlining the importance of crude prices remaining below $50 a barrel for the market to achieve a much-needed supply deficit in the second half of ...

Markets - Energy - Americas

US Midwest gasoline stocks draw by most since 2014: EIA NEW YORK: US Midwest gasoline stocks drew by the most last week since March 2014, according to data from the US Energy Information Administration released on Wednesday. Midwest gasoline stocks fell by 2.1 million barrels to 51 million barrels, data showed. Copyright Reuters, 2016 ...

Markets - Energy - Americas

Oil down 3 pct as U.S. drillers add rigs, strong dollar weighs NEW YORK: Oil prices settled down 3 percent on Friday after data showing the U.S. oil drilling rig count rising for a second week in row and a stronger dollar weighed on demand for greenback-denominated crude futures.A slide of more than 1 percent in Wall Street share prices , the largest since April, also prompted pre-weekend profit-taking in Brent and U.S. crude futures, which had rallied earlier in the week.The dollar jumped its most in ...

Markets - Energy - Americas

Speculators boost US natural gas net longs -CFTC US natural gas speculators boosted their net longs for a second consecutive week, betting prices will rise as production eases and power demand picks up to absorb some of the record high amount of fuel left in inventories after a warm winter.Speculators in four major NYMEX and ICE markets added to their bullish bets by 48,893 contracts to 54,390 in the week to June 7, the US Commodity Futures Trading Commission said on Friday.That was ...

Markets - Energy - Americas

Oil sinks as investors flee risk on growth worries NEW YORK: Swept up in a global markets selloff on concerns about economic growth, oil prices tumbled Friday as investors snared profits from a recent rally.Risk aversion dominated ahead of the Federal Reserve's US interest rate decision next Wednesday and Britain's vote on leaving the European Union the following week."We definitively have seen concerns about the global economic outlook... generally speaking there's a kind of flight to quality," said Phil Flynn of Price Futures Group. ...