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Americas

Markets - Energy - Americas

Oil slides on surprise jump in US crude stockpiles NEW YORK: Oil prices slumped Wednesday as a surprise jump in US crude stockpiles added to lingering concerns over a global supply glut.The US Department of Energy said commercial inventories of crude grew by 2.5 million barrels last week, in contrast to analyst expectations for a drop of around 850,000.That helped reverse gains of Tuesday driven by a report that Iran might support an OPEC output freeze.In New York, US benchmark West Texas Intermediate crude for delivery in October lost $1.33 at $46.77 a barrel.Brent North Sea crude for October delivery slid 91 cents to $49.05 a barrel in London trade."News of an increase in US inventories has just reminded investors once again about the ongoing oversupply in the markets," FXTM analyst Jameel Ahmad told AFP.He added that recent downgrades to global economic growth have meanwhile raised "a few concerns over the possibility of reduced demand for the commodity".Crude prices ...

Markets - Energy - Americas

US crude down 3pc after big stockpile build report NEW YORK: Oil prices tumbled on Wednesday, with US crude falling about 3 percent, after an unexpectedly large inventory build in the world's biggest oil consumer renewed worries about oversupply. The US Energy Information Administration (EIA) reported that crude inventories rose 2.5 million barrels last week, versus analysts' forecasts for a draw of 500,000 barrels. Gasoline and distillate stocks also rose, the EIA said, driving down oil prices that had mostly risen in the past ...

Markets - Energy - Americas

Colombia July crude output down 10.7pc on year BOGOTA: Colombia produced an average of 843,000 barrels of crude oil per day (bpd) in July, the Mines and Energy Ministry said on Friday, down 10.7 percent from 945,000 bpd in the same month last year, according to Reuters calculations.Natural gas production fell 4.86 percent year-on-year to 919 million cubic feet per day.State-run Ecopetrol produces more than half of Colombia's oil. Copyright Reuters, 2016 ...

Markets - Energy - Americas

Oil prices jump on report Iran could support OPEC limits NEW YORK: Oil prices jumped on Tuesday after a new report that Iran could support an effort by OPEC and Russia to freeze production and firm up prices.The Reuters report, citing unnamed sources, said Tehran is sending "positive signals" that it might give its support to that effort, after having refused earlier this year to curb its own output to support the market.The news reversed an earlier fall in prices that was being driven by ...

Markets - Energy - Americas

Mexico approves oil auction terms for onshore tender in 2017 MEXICO CITY: Mexico's oil regulator on Tuesday approved auction terms and contracts for a dozen onshore oil and gas fields, to be bid out next year as part of a series of tenders following a landmark energy sector opening. The second phase of the so-called Round Two tender will feature licenses, the regulator known as CNH said. Winners will be announced on April 7, 2017. The fields are located in the gas-rich Burgos basin, in ...

Markets - Energy - Americas

Oil bounces on speculation of Iran supporting OPEC freeze action NEW YORK: Oil prices jumped as much as 2 percent on Tuesday, reversing early losses, after Reuters reported that Iran was sending positive signals that it may support joint OPEC action to prop up the market.Brent crude was up 87 cents, or 1.8 percent, at $50.03 a barrel by 11:02 a.m. EDT (1502 GMT). It had fallen 1.4 percent earlier to $48.48.U.S. crude jumped 70 cents, or 1.4 percent, to $48.11.Iran, the third-largest oil producer ...

Markets - Energy - Americas

Oil tumbles, Treasuries rise as investors await Fed NEW YORK: Oil prices fell more than 3 percent on supply worries, while US Treasuries rose and stocks flattened on Monday as markets awaited more clarity later this week from the Federal Reserve on when it might raise US interest rates. An upbeat assessment of the US economy from Fed Vice Chairman Stanley Fischer on Sunday was viewed as raising the prospect of Fed Chair Janet Yellen flagging a rate rise at a meeting with ...