01182017Wed
Last update: Wed, 18 Jan 2017 10am

Americas

Markets - Energy - Americas

Oil steadies ahead of preliminary US inventory report NEW YORK: Oil prices steadied on Tuesday, as the dollar relinquished early gains and expectations of OPEC output curbs lifted crude prices from session lows despite forecasts for data showing a second straight weekly build in US crude stockpiles. US crude inventories likely rose by 2.4 million barrels in the week to Oct. 14, a Reuters poll of oil market analysts found. In the previous week to Oct 7, stocks grew by 4.9 million barrels. The American Petroleum Institute (API), an industry group, will issue its report on domestic oil stocks at 4:30 p.m. EDT (2030 GMT), after Tuesday's market settlement. The US Energy Information Administration (EIA) will issue official numbers on Wednesday. Brent crude was flat at $51.52 a barrel by 12:16 p.m. EDT (1616 GMT). US West Texas Intermediate (WTI) crude rose 15 cents to $50.09. The dollar was mixed in choppy trading. A strong dollar makes crude ...

Markets - Energy - Americas

Med Crude-Urals up in NWE in a spot tender, trade muted MOSCOW: Urals differentials in northwest Europe rose sharply in a spot tender on Tuesday, while trading activity in the Platts window was muted, traders said. There were no bids and offers for Urals in the Baltic, while Surgut's spot tender for cargoes loading early in November showed the grade was up buy some $0.25-$0.30 a barrel to minus $2.40-$2.45 a barrel to dated Brent. Surgut awarded 400,000 tonnes of Urals crude to Total, traders said. ...

Markets - Energy - Americas

Rising gasoline, rents push US inflation higher in September WASHINGTON: US consumer prices recorded their biggest gain in five months in September as the cost of gasoline and rents surged, pointing to a steady build-up of inflation that could keep the Federal Reserve on track to raise interest rates in December.The Labor Department said on Tuesday its Consumer Price Index increased 0.3 percent last month after rising 0.2 percent in August. In the 12 months through September, the CPI accelerated 1.5 percent, the biggest ...

Markets - Energy - Americas

Polish fuel sales jump after tax evasion crackdown WARSAW: Registered fuel sales in Poland have risen 14 percent since the introduction of new legislation on Aug. 1 to curb black market sales, an industry body and the authorities said on Monday. Poland has one of the highest levels of tax evasion in the European Union and the ruling Law and Justice (PiS) party has made increasing tax collection a priority as it needs cash to finance its broad social spending agenda. A fuel ...

Markets - Energy - Americas

Brazil to ease local content requirements in oil, gas auctions SAO PAULO: Brazil will stop favoring companies that offer to purchase a larger amount of local goods and services when selecting winners in oil and gas rights auctions, newspaper Valor Economico reported on Monday.In previous auctions, companies that offered more in the way of local content requirements were favored over peers.The newspaper said it was "practically certain" that this will not be the case in the 14th round of oil rights concession auctions, likely to ...

Markets - Energy - Americas

Oil ends up; refined products draw offset US crude build NEW YORK: Oil prices settled up on Thursday after a US government report showing hefty draws in diesel and gasoline offset the first crude inventory build in six weeks. Crude prices fell initially when the US Energy Information Administration (EIA) said crude stocks swelled 4.9 million barrels in the week ended Oct. 7.It was the first crude build since the end of August and was far above a 700,000-barrel rise forecast by analysts in a ...

Markets - Energy - Americas

Oil down ahead of first likely US crude build in 6 weeks NEW YORK: Oil prices were down slightly on Thursday as the market braced for US government data likely to show the first crude inventory build in six weeks, with record Chinese imports of crude limiting losses. Also weighing on the market was data from Wednesday showing OPEC output at record highs despite the producer group's pledges to cut production soon to rein in a global crude glut. Brent crude was down 4 cents at $51.77 ...