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Americas

Markets - Energy - Americas

Oil rises on IEA investment report, traders await inventory data CALGARY: Crude prices rose on Tuesday after the International Energy Agency noted a sharp drop in oil investment, though the broader picture of an oversupplied market limited any gains as traders focused on inventory data due later in the day.U.S. crude settled up 34 cents at $44.21 a barrel. Brent crude was up 24 cents at $47.43 a barrel by 1931 GMT, having previously fallen for four trading days in a row.Prices rallied to session highs in mid-morning U.S. trade, which one trader attributed to the U.S. National Hurricane Center's forecast that tropical storm Kate will become a hurricane by tonight. The storm is expected to pass north of Bermuda and remain well offshore the U.S. East Coast.Other market players said the move was driven by technical trading in U.S. crude.In its World Energy Outlook, the IEA estimated that investment in oil would decline more than 20 percent this year ...

Markets - Energy - Americas

Oil rises after IEA reports steep drop in investment CALGARY: Crude prices rose on Tuesday after the International Energy Agency noted a sharp drop in oil investment, though the broader picture of an oversupplied market limited any gains as traders focused on inventory data due later in the day.Brent crude was up 23 cents at $47.42 a barrel by 1801 GMT, having fallen for four trading days in a row. U.S. crude rose 44 cents to $44.32 a barrel.Prices rallied to session highs in ...

Markets - Energy - Americas

Brazil's Petrobras, union strike talks fail, risk of fuel shortage rises RIO DE JANEIRO: Brazil's Petrobras and unions failed to reach an agreement on Monday over worker demands that the state-run oil company reverse budget cuts and cancel assets sales aimed at trimming its massive debt, union and company officials said. The week-old strike, already the biggest in 20 years, now risks an impasse that could hurt domestic fuel supplies and further hobble a company already under financial pressure and the fallout from a corruption scandal. ...

Markets - Energy - Americas

Oil falls as China imports dip, OECD cuts growth outlook NEW YORK: Oil prices fell for the fourth straight session Monday as traders weighed lowered OECD global growth forecasts and weak Chinese crude imports against abundant supplies.After losing more than $2 a barrel last week, US benchmark West Texas Intermediate for delivery in December slid 42 cents to $43.87 on the New York Mercantile Exchange.Brent North Sea crude for December, the global benchmark, slipped to $47.19 a barrel in London, down 23 cents from Friday's ...

Markets - Energy - Americas

Oil down on growing US stockpile worries, weak Wall Street NEW YORK: Oil prices edged lower on Monday after data showing fresh builds at the delivery point for U.S. crude futures and lower Wall Street share prices offset bullish OPEC demand projections.Crude futures have fallen about $4 a barrel over the past three sessions, partly on concerns that stockpiles of refined U.S. oil products like heating oil were also growing as refineries ramp up output as they emerge from maintenance season amid milder-than-usual weather.Near record ...

Markets - Energy - Americas

Oil ends down as much as 2 pct on oversupply, gasoline pressure NEW YORK: Oil settled down as much as 2 percent on Thurday as an oversupply of crude and weak gasoline prices extended the previous session's rout.Crude prices fell nearly 4 percent on Wednesday after the U.S. government reported a 2.85 million-barrel crude inventory spike as higher domestic production made up for lower imports last week.In Thursday's session, U.S. crude's West Texas Intermediate (WTI) futures settled down $1.12, or 2.4 percent, at $45.20 a barrel.Brent futures ...

Markets - Energy - Americas

Oil cuts loss on Wall Street rebound; oversupply still weighs NEW YORK: US crude oil futures fell about half percent on Thursday while Brent steadied, tracking an oversupplied market and weak gasoline prices before rebounding on the improved sentiment on Wall Street.Crude prices fell nearly 4 percent on Wednesday after the U.S. government reported a 2.85 million-barrel crude inventory spike as higher domestic production made up for lower imports last week.In Thursday's session, U.S. crude's West Texas Intermediate (WTI) futures were down 30 cents at ...