12042016Sun
Last update: Sun, 04 Dec 2016 11pm

Americas

Markets - Energy - Americas

Oil slumps as big U.S crude draw offset by large gasoline build NEW YORK: Global oil markets fell on Wednesday, with US crude down as much as 3 percent after the bullish impact of lower crude inventories was offset by large gasoline builds that raised concerns about high autumn fuel supplies. Also weighing on crude were Colonial Pipeline's efforts to fix an outage on one of its lines that had been supporting prices of gasoline, and the larger oil complex, since Tuesday. Brent, the global benchmark for oil, was down 85 cents, or 1.7 percent, at $48.23 a barrel by 12:27 p.m. (1627 GMT). US crude slumped by $1.25, or 2.7 percent, at $45.11. It had fallen 3.3 percent earlier. Gasoline was down 1.3 percent after hitting two-week highs. Crude prices had initially rallied nearly 2 percent, with Brent briefly breaking above $50 a barrel, after the US government reported a drawdown of about 2 million barrels for a second week in ...

Markets - Energy - Americas

TSX ends higher after Fed holds interest rates TORONTO: Canada's main stock index rose on Thursday after the Federal Reserve left interest rates unchanged over concerns about the global economy and a recent spike in market volatility. The Toronto Stock Exchange's S&P/TSX composite index unofficially closed up 23.38 points, or 0.17 percent, at 13,787.16.Copyright Reuters, 2015 ...

Markets - Energy - Americas

Brent crude slips in volatile trade ahead of Fed decision NEW YORK: Brent crude slipped and US futures seesawed on Thursday in volatile trading as investors awaited the Federal Reserve's interest rate decision later in the day. The US central bank will have an announcement at 2 p.m. EDT (1800 GMT), which could signal the first US interest rate rise for a decade. Economists saw about a one-in-four chance of a rate increase. The dollar eased ahead of the announcement. A weaker US currency can ...

Markets - Energy - Americas

Oil prices rise after dip in US crude production NEW YORK: World crude prices rose modestly Tuesday as traders eyed signs of slowing US oil production that could ease the global oversupply.US benchmark West Texas Intermediate for delivery in October rose 59 cents to $44.59 a barrel on the New York Mercantile Exchange.In London, Brent North Sea crude for October, the international benchmark, closed at $46.63 a barrel, up 26 cents from Monday's settlement. The futures contract expired Tuesday.Matt Smith of Clipper Data said ...

Markets - Energy - Americas

Oil extends losses as OPEC cuts demand growth forecast NEW YORK: World crude prices extended their losses Monday, pressured by persistent concerns about the global supply glut as OPEC lowered its demand growth forecast for next year.US benchmark West Texas Intermediate for delivery in October dropped 63 cents to $44.00 a barrel on the New York Mercantile Exchange.Brent North Sea crude for October, the global benchmark for crude oil, tumbled to $46.37 a barrel in London, down $1.77 from Friday's settlement.Both key contracts had ...

Markets - Energy - Americas

Oil rallies as gasoline demand offsets US crude build NEW YORK: Oil prices rallied on Thursday, with U.S. crude settling up 4 percent as indications of strong demand for gasoline overshadowed a report showing increased U.S. crude inventories.A weaker dollar also made dollar-denominated crude more affordable to holders of the euro, while gains on Wall Street enhanced bullish sentiment in oil markets.U.S. Energy Information Administration data showed demand for gasoline over the latest four-week period was up almost 4 percent from a year ago, ...

Markets - Energy - Americas

Oil prices climb on falling US crude output NEW YORK: World oil prices rose Thursday as investors focused on a decline in US crude production instead of a bigger-than-expected jump in inventories.US benchmark West Texas Intermediate for October leaped $1.77, or 4.0 percent, to $45.92 a barrel on the New York Mercantile Exchange.Brent North Sea crude for delivery in October, the European benchmark, closed at $48.89 a barrel in London, advancing $1.31 (2.8 percent) from Wednesday's settlement.Both futures contracts bounced back from sharp ...