08242016Wed
Last update: Wed, 24 Aug 2016 11am

Americas

Markets - Energy - Americas

Oil rallies on US jobs data, bullish EIA monthly report NEW YORK: Oil futures rallied on Tuesday, erasing losses on strong jobs data, US government forecasts for lower domestic crude production growth and higher global demand for oil. US job openings surged to a 14-year high in February the Labor Department's monthly Job Openings and Labor Turnover Survey (JOLTS) said."That JOLTS report was certainly quite strong and strong employment equals strong gasoline demand," said John Kilduff, partner at Again Capital LLC in New York. Also supportive was an Energy Information Administration (EIA) monthly report raising forecasts for US and global demand growth and lowering forecasts for crude oil production growth in the United States. US May crude rose $1.84 to settle at $53.98 a barrel after dropping to $51.17. The $54.13 peak was the highest since reaching $54.15 on Feb. 17.Brent May crude rose 98 cents to settle at $59.10, having swung from $57.02 to $59.27, highest since March 26. ...

Markets - Energy - Americas

US, Brent crude pare losses, turn higher in choppy trade NEW YORK: US and Brent crude futures turned higher in choppy trading on Tuesday on lift from a Federal Reserve official arguing that it may be too early to talk about reducing monetary accommodation and a partial closure of the Mississippi River after an oil leak.Crude futures rallied after slumping initially on Tuesday on Iran's efforts to sell more oil to China and a Goldman Sachs report saying prices needed to remain low to slow ...

Markets - Energy - Americas

Oil jumps 5pc on tempered Iran view, slower US inventory rise NEW YORK: Oil prices jumped more than 5 percent on Monday as traders reassessed how quickly Iran might increase exports after a preliminary nuclear deal and anticipated that a months-long rise in US crude inventories may be slowing. Brent crude's rally followed Thursday's nearly 4 percent tumble after Iran and six world powers announced a framework agreement on the OPEC member's nuclear program. But initial expectations of a quick recovery in oil exports were tempered ...

Markets - Energy - Americas

Sete Brasil signs memorandum suspending debt for 90 days SAO PAULO: Brazilian oil rig producer Sete Brasil Participa??es SA said on Monday it signed a memorandum of understanding with its main creditors on March 31 that will suspend debt collection rights for 90 days. Earlier on Monday, Luiz Carlos Trabuco, chief executive officer of Brazilian private-sector lender Banco Bradesco SA, said the rig maker and commercial banks were in advanced talks over the size, maturity and scope of a new bridge loan. Sete Brasil ...

Markets - Energy - Americas

Greenpeace boards oil rig, Shell slams 'stunt' LOS ANGELES: Greenpeace activists have boarded an Arctic-bound Shell oil rig in the middle of the Pacific Ocean, the environmental group and oil giant said Monday.Shell denounced the action as a "stunt" and said it would not deflect it from its Arctic oil exploration plans.The six activists planned to camp on the 38,000-tonne Polar Pioneer platform, which they boarded 750 miles northwest of Hawaii using inflatable boats from the Greenpeace vessel "Esperanza."The six -- from ...

Markets - Energy - Americas

Oil falls nearly 4pc after tentative nuclear deal for Iran NEW YORK: Brent oil fell nearly 4 percent on Thursday after a preliminary pact between Iran and global powers on Tehran's nuclear program, even as officials set further talks in June and analysts questioned when the OPEC member will be allowed to export more crude. Traders had been fixated on the talks held in Lausanne, Switzerland for over a week as Iran tried to agree with six world powers on concessions to its nuclear program ...

Markets - Energy - Americas

Oil tumbles anew as press event called at Iran nuclear talks NEW YORK: Oil prices fell as much as 4 percent on Thursday after global powers negotiating a nuclear deal with Iran called for a news conference after more than a week of talks in Switzerland.A nuclear pact for Tehran could remove Western sanctions on the OPEC nation's oil exports, bringing millions of additional Iranian crude barrels onto a market already brimming with supply.A European representative told reporters there will be a press event on Iran's ...