05252016Wed
Last update: Wed, 25 May 2016 06am

Americas

Markets - Energy - Americas

US crude stocks soar while gasoline falls more than expected: EIA NEW YORK: US crude stocks rose last week, soaring more than three times as much as expected, even as gasoline inventories fell more than expected, while distillate stockpiles built, data from the Energy Information Administration showed on Wednesday.Crude inventories rose by 6.6 million barrels in the last week, compared with analysts' expectations for an increase of 1.9 million barrels.Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.8 million barrels, EIA said.Refinery crude runs fell by 492,000 barrels per day, EIA data showed. Refinery utilization rates fell by 2.2 percentage points.Gasoline stocks fell by 4.2 million barrels, compared with analysts' expectations in a Reuters poll for a 1.4 million-barrel drop.Distillate stockpiles, which include diesel and heating oil, rose by 505,000 barrels, versus expectations for a 281,000-barrel increase, the EIA data showed. In the midwest, distillate stocks rose 471,000 barrels to their highest level on record.U.S. crude imports rose last ...

Markets - Energy - Americas

Oil prices ease on strong US gasoline demand NEW YORK: Oil futures gave up most of their losses and traded little changed on Wednesday as data showed gasoline demand soared in the United States last week, offseting the impact of a larger-than-expected build in crude inventories.The figures come as the market braces for the outcome of a producer meeting set for Sunday in Doha to discuss freezing output, widely expected to do little to trim oversupply.Brent crude was down 5 cents at $44.64 ...

Markets - Energy - Americas

Oil surges to 2016 highs on reported Saudi-Russian deal NEW YORK: Oil prices surged Tuesday to 2016 highs on reports of an agreement between Saudi Arabia and Russia on freezing output.US benchmark West Texas Intermediate for delivery in May gained $1.81 at $42.17 a barrel on the New York Mercantile Exchange. That was the highest close since November.In London, Brent crude for June delivery, the European benchmark, finished at $44.69 a barrel, up $1.86 from Monday's close.Oil extended a week of gains amid speculation ...

Markets - Energy - Americas

Oil prices higher as market awaits Qatar summit NEW YORK: Oil prices pushed higher again Monday ahead of next week's widely-anticipated meeting of major petroleum producers to discuss limiting output.US benchmark West Texas Intermediate crude for delivery in May climbed 64 cents to $40.36 a barrel on the New York Mercantile Exchange.In London, Brent North Sea oil for June delivery rose 89 cents to $42.83 a barrel. The gains added to a more than six percent increase Friday following data showing falling US ...

Markets - Energy - Americas

Oil hits four-month high on commodities rally, Doha meeting hopes NEW YORK: Brent crude prices touched a four-month high on Monday in a rally fueled by strong markets across commodities, ahead of a meeting of oil producers in Doha next Sunday aimed at freezing current output levels.The market received a small boost ahead of the settlement as a U.S. government forecast released on Monday said U.S. shale oil production is expected to fall for a seventh month in a row in May.After hitting the highest ...

Markets - Energy - Americas

Oil prices jump on signs of US cutbacks, Doha hopes NEW YORK: Oil prices jumped Friday to cap a week of gains, helped by more indicators of slowing US output and hopes for an output freeze at the coming producers' gathering in Doha.New York benchmark WTI for delivery in May gained 6.6 percent to $39.72 a barrel. In London Brent North Sea crude for June surged 6.4 percent to $41.94 a barrel.Both contracts were up eight percent or more for the week, with falling US ...

Markets - Energy - Americas

LatAm energy ministers huddle ahead of oil price meet QUITO: Ministers from five Latin American oil producers gathered Friday in Ecuador to hash out a regional strategy ahead of a highly anticipated meeting in Doha aimed at stabilizing collapsed prices.The April 17 oil giants' meeting in Doha, led by Russia and Saudi Arabia, has raised producers' hopes of a potential agreement on freezing production to prop up prices.Ecuadoran Hydrocarbons Minister Carlos Pareja, who hosted his counterparts from Bolivia, Colombia, Mexico and Venezuela, said the ...