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Markets - Energy - Americas

North Dakota August oil output falls below 1mn bpd NEW YORK: North Dakota's oil output fell 4.7 percent in August, state data showed on Thursday, with production dropping below the 1 million barrel-per-day (bpd) mark as producers struggle to ship inland crude to coastal refineries. North Dakota's production fell 49,000 bpd to 981,039 bpd, according to state Industrial Commission data, after it registered a roughly 2,400 bpd increase the month prior. Copyright Reuters, 2016 ...

Markets - Energy - Americas

US Gulf Coast distillates draw by most since Sept 2005: EIA NEW YORK: US Gulf Coast distillate stocks last week fell by 4.5 million barrels, the largest draw since September 2005, according to data released Thursday by the US Energy Information Administration. US East Coast distillate stocks rose by 2.7 million barrels to 67.1 million barrels, the highest level since December 2010. Meanwhile, East Coast crude imports rose by 687,000 bpd to 1.3 million bpd, the biggest weekly rise since Sept 2008. US refinery utilization dropped ...

Markets - Energy - Americas

CANADA CRUDE-Heavy and synthetic grades unmoved CALGARY: Canadian heavy crude differentials were unchanged on Thursday, confounding some expectations of a seasonal weakening in demand.Western Canada Select heavy blend crude for November delivery last traded at $13.95 per barrel below the West Texas Intermediate benchmark, according to Shorcan Energy brokers, unmoved from Wednesday's settle.One Calgary-based trader said some market participants had been surprised by heavy crude's resilience, as it usually weakened at this time of year due to a drop off in ...

Markets - Energy - Americas

US oil prices top $50 a barrel for 1st time since June NEW YORK: Oil prices in New York rose above $50 a barrel on Thursday for the first time since June, boosted by lower US petroleum inventories.The drop in US oil inventories in Wednesday's weekly US report added to momentum after last week's OPEC announcement of an output cut.Near 1300 GMT, US benchmark West Texas Intermediate for delivery in November was at $50.26 a barrel, up 39 cents in intraday trade.Copyright AFP (Agence France-Presse), 2016 ...

Markets - Energy - Americas

Oil up 2pc, hits June highs on possible US stockpile drop NEW YORK: Oil prices rose about 2 percent on Wednesday, hitting their highest since June, on the possibility that the US government will report another weekly drawdown in crude stockpiles. Speculation about production cuts that could occur at OPEC's meeting next month also kept the market supported. The American Petroleum Institute (API), a trade group, reported on Tuesday that its data showed US crude inventories dropped 7.6 million barrels during the week ended Sept. 30.Analysts ...

Markets - Energy - Americas

Petrobras, Statoil extend partnership to aging wells RIO DE JANEIRO: Petroleo Brasileiro SA and Norway's Statoil ASA are expanding a partnership to help the Brazilian state-controlled company arrest declining production at aging wells in the offshore Campos Basin, two people with direct knowledge of the plan said. In late August, Petrobras and Statoil signed a memorandum of understanding that has since evolved to targeting aging wells. Both companies are discussing under which terms Statoil could get stakes in some fields in exchange ...

Markets - Energy - Americas

Oil down after 4-month highs on dollar's rise, stockpile worry NEW YORK: Oil settled slightly lower in choppy trade on Tuesday as a surging dollar and anticipation of higher US crude stockpiles offset optimism about planned OPEC output cuts that initially took Brent to four-month highs.A slump in equity prices on Wall Street also weighed on oil. Brent crude settled down 2 cents at $50.87 a barrel, after rising earlier to $51.37, its highest since June 10. US West Texas Intermediate (WTI) crude closed down ...