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Last update: Tue, 31 May 2016 11pm

Americas

Markets - Energy - Americas

Stocks jump on Greek debt plan, US dollar falls NEW YORK: Stock markets rallied around the world on Tuesday while the US dollar fell after the new Greek government dropped calls for a write-down of its foreign debt, easing concerns about growing instability in the euro zone. While gold, viewed as a safe-haven investment, fell on the day, copper prices saw their biggest one-day jump since July 2013.Oil prices also continued their recent rebound, up more than 1 percent for a third straight session. The Greek government, led by the left-wing Syriza party that won elections just over a week ago, on Monday ditched calls for a reduction of foreign debt and proposed ending a standoff with its creditors by swapping the debt for new growth-linked bonds. "The market is beginning to see signs of some stability coming into oil and the Greek situation seems to be tilting towards the side of what the market is looking for, which ...

Markets - Energy - Americas

Oil jumps as dollar plunges, up nearly 20pc in 4 days NEW YORK: Oil prices rose on Tuesday, headed for the biggest four-day advance since January 2009 as a tumbling dollar sent commodities rallying. Despite signs that US crude supplies had registered another heavy build last week, investors were growing more confident that oil prices have hit a bottom after a seven-month rout.Traders said oil bulls were encouraged by BP's plan to cut capital expenditure by 13 percent to $20 billion in 2015, which came after ...

Markets - Energy - Americas

Brazil oil and gas production breaks 3mn bpd in Dec SAO PAULO: Brazil's oil and natural gas production hit a milestone in December when it reached 3.096 million barrels of oil equivalent per day (boepd), the country's oil regulator ANP said on Tuesday. Oil and gas production was 2.935 million boepd in November, according to an ANP statement. Oil output alone reached 2.497 million bpd in December, which was up 18 percent from a year ago and up 6 percent from November. Natural gas output ...

Markets - Energy - Americas

Shell oils gears for climate-activist investors NEW YORK: Shell has oiled the gears for climate-activist investors. The Anglo-Dutch energy firm announced last week that it is backing a resolution from a group of shareholders wanting more disclosure about how climate change might affect the company's business.The demands are hardly taxing, so a refusal might look defensive. Nonetheless, the episode highlights the growing power of environmentally focused investors. The consortium of 150 mostly UK-based investors accounts for some 200 billion pounds ($300 ...

Markets - Energy - Americas

Oil's price plunge could raise Keystone carbon footprint WASHINGTON: Oil prices have dropped so low that the Keystone XL pipeline could play a bigger role in the development of Canada's oil sands and raise greenhouse gas emissions, Obama administration environmental regulators said. The US Environmental Protection Agency's comments in a letter to the State Department give weight to President Barack Obama's view that the controversial pipeline should not be approved if it significantly increases carbon pollution. The letter, sent on Monday, was released ...

Markets - Energy - Americas

Oil up 11pc after 2-day rally; trade volatile on stock builds NEW YORK: Oil prices rose strongly again on Monday, tacking on a total of 11 percent over two straight sessions, as some investors bet that a bottom had formed to the seven-month long rout on the market even as others remained pessimistic. Benchmark Brent and US oil futures swung in a band of about $4 a barrel, one of their widest in weeks, as near-term technical signals indicated further gains while fundamental data continued to ...

Markets - Energy - Americas

Diesel, gasoline futures rise sharply on US refinery strike NEW YORK: Gasoline and distillate futures on both sides of the Atlantic rallied on Monday on lift from workers going on strike at nine US refineries. European benchmark diesel futures for February delivery traded on the IntercontinentalExchange were up $40.00, or 8.36 percent at $518.25 a tonne at 12:18 p.m. EST (1718 GMT), after surging more than 10 percent to $527.75. US front-month March RBOB gasoline futures on the New York Mercantile Exchange were up ...