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

Americas

Markets - Energy - Americas

Shell awarded tender to sell Nigerian crude to Uruguay HOUSTON: Oil firm Royal Dutch Shell was awarded this week a tender to sell 1 million barrels of Nigerian Bonny Light crude to Uruguay's state-run company ANCAP for delivery July 19-23 at Jose Ignacio port, traders said on Friday. This is the second tender in a row that Shell has won to supply Uruguay with crude. It previously won one with an offer combining Bonny Light and Brazilian Sapinhoa crude for June delivery. The prices agreed were not immediately known. Since Venezuela stopped exporting medium crude to Uruguay last year for its 50,000-barrel-per-day La Teja refinery, the country has increased purchases of other grades.This year it has received Nigeria's Bonny Light, Escravos, and Erha, Angola's Nemba and North Sea's Ekofisk crude, according to traders and Thomson Reuters Trade Flows data. Copyright Reuters, 2016 ...

Markets - Energy - Americas

Oil ease as focus returns to oversupply, strong dollar adds pressure NEW YORK: Oil prices were steady to softer on Friday as a stronger dollar spurred investors to cash in on a second week of gains, with the focus remaining on the rebalancing of the market as the global glut faced unplanned supply outages.The US dollar hit its highest level against the yen in more than three weeks and was on course for a third week of gains on expectations of a potential summer Federal Reserve ...

Markets - Energy - Americas

Oil down as dollar surges; Nigeria oil terminal issue pares loss NEW YORK: Oil prices tumbled on Thursday as US rate hike expectations lifted the dollar, but crude pared losses on worries about more supply outages from Nigeria's main crude oil terminal. Growing expectations that the US Federal Reserve may raise rates next month prompted investors to cash out of long positions in Brent and US crude's West Texas Intermediate (WTI) futures. Those positions came into the money after oil rallied on Monday and Tuesday on ...

Markets - Energy - Americas

Oil down over 2pc as dollar soars on US rate hike fears NEW YORK: Crude oil prices fell more than 2 percent on Thursday as the dollar's surge on U.S. rate hike expectations drove players from the oil market.Fear that the U.S. Federal Reserve may raise rates by next month prompted investors to cash out of long positions in Brent and U.S. crude's West Texas Intermediate (WTI) futures that rallied earlier in the week on oil supply outages."Petroleum prices are under selling pressure as part of a ...

Markets - Energy - Americas

Canadian oil exports drop, supply hunt on amid wildfires NEW YORK: In a sign the massive Alberta wildfire is taking a toll on oil transport, Canadian crude exports to the United States dropped 12 percent last week, while another blend of Canadian sweet crude oil rallied as concerns grow about supply.Overall, trading in Canadian crude was quiet, as the second half of the month is generally inactive.Hot and dry weather and strong winds were expected to push the wildfire burning near Fort McMurray, Alberta ...

Markets - Energy - Americas

Oil falls as Fed rate hike speculation sends dollar surging NEW YORK: Oil prices retreated from 2016 highs and snapped a two-day rally on Wednesday, hurt by a surge in the dollar after the US Federal Reserve signalled it could raise interest rates next month.Brent and US crude's West Texas Intermediate (WTI) futures had advanced closer to $50 a barrel on Wednesday after large gasoline and distillate drawdowns were announced by the US Energy Information Administration (EIA). But minutes from the Fed's April 26-27 policy ...

Markets - Energy - Americas

Exxon ramped up output of Nigeria's Qua Iboe crude after pipeline damage NEW YORK: Exxon Mobil has ramped up production of Nigeria's Qua Iboe crude oil just over a week after pipeline damage forced it to slow output, traders said on Wednesday. The company cut production, and declared force majeure on exports, after a drilling rig, experiencing mechanical difficulties, damaged the pipeline it jointly owns with the state-owned Nigerian National Petroleum Corporation (NNPC).Traders said the company began increasing output of Nigeria's largest crude oil stream earlier this ...