04302016Sat
Last update: Sat, 30 Apr 2016 12pm

Americas

Markets - Energy - Americas

Oil slides on US refinery maintenance, OPEC meeting doubts NEW YORK: Oil prices fell on Thursday, with U.S. crude retreating from three-month highs as refinery maintenance looked set to boost record domestic crude stockpiles, while an OPEC meeting aimed at freezing output appeared unlikely without Iran's participation.Crude prices drew support as the dollar weakened versus the euro. Trading was also volatile toward settlement on buying by funds aiming to keep prices at or near $40 a barrel, market participants said.Global oil benchmark Brent settled down $1.02, or 2.5 percent, at $40.05 a barrel, after hitting a session low at $39.63.U.S. crude fell 45 cents to finish at $37.84, having recovered from an intraday low of $37.21.On Wednesday, oil rallied as much as 5 percent, with U.S. crude hitting three-month highs of $38.51 a barrel as a big gasoline inventory drawdown overshadowed record high crude stockpiles.On Thursday, some analysts said the gasoline draw, which was triple expectations, could be partly ...

Markets - Energy - Americas

Oil prices dip amid doubts about producer meeting NEW YORK: World oil prices dipped Thursday as doubts rose about whether key producers led by Russia and Saudi Arabia would meet this month to discuss crude output limits.But markets still held onto most of their recent gains with London benchmark Brent staying above the $40 a barrel line.At the close in New York, West Texas Intermediate crude for delivery in April was down 45 cents from Wednesday at $37.84 a barrel.Brent North Sea crude ...

Markets - Energy - Americas

Oil down on US refinery maintenance, OPEC meet doubts NEW YORK: Oil prices fell on Thursday, with U.S. crude retreating from three-month highs as refinery maintenance threatened to raise record inventories of crude and sources said an OPEC production freeze meeting was unlikely without Iran's participation.An initial rally in the dollar after the European Central Bank cut its key lending rate to zero also pressured oil, although crude prices recovered from their lows as the euro rebounded on ECB comments that more cuts were ...

Markets - Energy - Americas

Oil down on US refinery maintenance, OPEC doubts NEW YORK: Oil prices fell on Thursday, with US crude retreating from three-month highs as refinery maintenance threatened to further raise record U.S. inventories of crude, while sources said an OPEC production freeze meeting was unlikely without Iran's participation.Crude prices pared losses as the dollar weakened. Oil buyers using the euro benefited from its rally after the European Central Bank (ECB) ruled out further rate cuts after bringing its key lending rate to zero.Global oil ...

Markets - Energy - Americas

Oil eases loss in volatile pre-settlement trade NEW YORK: Oil prices were down in volatile trading on Thursday afternoon as buying by funds positioned to keep the market at or around $40 a barrel pared most of the day's losses, traders said.Prices fell more than $1 earlier in the session as refinery maintenance threatened to further raise record U.S. inventories of crude. The market was also pressured by talk that an OPEC production freeze meeting was unlikely without Iran's participation.But with less ...

Markets - Energy - Americas

Oil prices rally on big fall in US gasoline stockpiles NEW YORK: Oil prices rose sharply Wednesday as falling US gasoline inventories boosted the demand outlook in a global market awash in crude supplies.US benchmark West Texas Intermediate (WTI) for delivery in April jumped $1.49 (4.9 percent) to $37.99 a barrel on the New York Mercantile Exchange, the highest level in more than three months.In London, Brent North Sea crude for May delivery, the European benchmark for oil, leaped to $41.07 a barrel, up $1.42 ...

Markets - Energy - Americas

US crude stockpiles rise to record for 4th straight week: EIA NEW YORK: US crude stockpiles last week rose to a record high for a fourth straight week even as distillate and gasoline inventories fell significantly more than expected, data from the Energy Information Administration showed on Wednesday.Crude inventories rose 3.9 million barrels in the week to March 4, inline with analysts' expectations, hitting an all-time high of 521.9 million barrels.Crude stocks at the Cushing, Oklahoma, delivery hub rose by 690,000 barrels, hitting another record high, ...