06252016Sat
Last update: Sat, 25 Jun 2016 05pm

Americas

Markets - Energy - Americas

Oil recoups most early losses as US stock build less than feared NEW YORK: Oil prices recovered much of their early losses Thursday after weekly stock builds turned out to be less than some had feared, although the U.S. government reported another record high in crude inventories.Traders said U.S. crude futures were also seeing short-covering ahead of the expiry of its front-month contract.Brent was down 20 cents at $60.33 a barrel by 2:22 p.m. EST (1818 GMT), after falling as low as $57.80 earlier. On Tuesday, it had hit a two-month high of $63.U.S. crude settled down 98 cents at $51.16, off the session low of $49.15. The front-month March contract in U.S. crude will expire on Friday."I think traders are rolling their March shorts into April giving the market a false sense of (short term) strength," said a broker.U.S. commercial crude oil inventories rose 7.7 million to a record 425.6 million barrels last week, the sixth straight week that levels were ...

Markets - Energy - Americas

Oil pares losses as US stock build less than feared NEW YORK: Oil prices fell on Thursday after the US government reported record high crude inventories, but the market still came off its lows as weekly stock builds turned out to be less than feared.U.S. commercial crude oil inventories rose 7.7 million to a record 425.6 million barrels last week, the sixth straight week levels reached seasonal record highs, the Energy Information Administration (EIA) said.The build was more than double the 3.2 million barrels expected ...

Markets - Energy - Americas

US crude prices fall sharply as inventory grows TOKYO: US oil futures tumbled more than 3 percent on Thursday to a one-week low around $50 a barrel after data showed a surprisingly sharp build in US crude inventories.US crude for March delivery fell to a session low of $50.23 a barrel, down almost $2 from Wednesday's settlement. The contract was trading down $1.51 at $50.63 by 0006 GMT, after settling down $1.39 on Wednesday.London Brent crude for April delivery was yet to trade, ...

Markets - Energy - Americas

Brent tumbles below $60, supply glut raises doubts on rally NEW YORK: The comeback rally in oil paused on Wednesday, with Brent crude falling below $60, as traders took stock of the market's blistering 35 percent gain over the past month despite mounting U.S. supplies.Oil prices were down from open to close, with celebrations for the Chinese Lunar New Year that stretches into the weekend thinning trade volumes in Asia.The selloff accelerated by afternoon following a fire and explosion at a gasoline processing unit in ...

Markets - Energy - Americas

Oil price fall leads to first TSX slip in 6 sessions TORONTO: Canada's main stock index slipped on Wednesday, its first decline in six sessions, as shares of oil and gas companies were weighed down by the stalling momentum of a recent rally in the price of oil.Investors took some comfort from the minutes of the U.S. Federal Reserve's last meeting, which showed policymakers were concerned about raising interest rates too quickly."If the (U.S.) dollar backs off a little bit and crude oil continues to gain ...

Markets - Energy - Americas

Oil falls as supply glut makes rallies tough to sustain NEW YORK: Crude oil futures fell on Wednesday, unable to build on more than 1 percent gains in the previous session as rising inventories continue to curb rallies.Industry spending cutbacks and falling U.S. rig counts helped fuel Brent crude's price rebound from an almost six-year low of $45.19 in January, but U.S. data has continued to show rising oil inventories.Export interruption in Libya has given a lift to Brent and helped boost its premium to ...

Markets - Energy - Americas

Oil down 3pc as supply glut raises questions on rally NEW YORK: A comeback rally in oil paused on Wednesday as traders took stock of the blistering 35 percent gain in crude prices since late January despite mounting U.S. supplies.The closure of Chinese markets through the weekend for the Lunar New Year added to the quieter trade in both benchmark Brent and U.S. crude, with volumes less than half of Tuesday levels, Reuters data showed. Singapore, another major trading center for crude, will observe the ...