Europe
Saturday, 18 May 2013 11:32
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LONDON/WASHINGTON: A European probe into possible oil price manipulation expanded with the investigation of a small niche trading house in the Netherlands, while a key US senator on Friday called for the Justice Department to join the investigation.Dutch trading house Argos Energies, a mid-sized trading company that deals in physical oil products and owns storage facilities, was visited by inspectors from the European Commission on Tuesday, a source familiar with the investigation said on Friday.The visit occurred on the same day that authorities raided the London bureau of pricing agency Platts, and the offices of Statoil, Royal Dutch Shell and BP in the biggest cross-border action since the probe into rigging of Libor benchmark interest rates.Copyright Reuters, 2013 ...
LONDON: World oil prices rose further on Friday on talk of a potential scaling back of US stimulus measures and despite a stronger dollar making crude more expensive for holders of rival currencies, analysts said.Brent North Sea crude for delivery in July grew 69 cents to $104.47 a barrel in London midday deals.New York's main contract, light sweet crude for June, climbed 48 cents to $95.64 a barrel."Crude oil prices extended gains on Friday after ...
LONDON: US crude oil futures shed $1 on Thursday to $93.30 a barrel as a sharper-than-expected drop in US factory output muddied the demand outlook.The price hit a low of $93.23 a barrel before rebounding slightly. Copyright Reuters, 2013 ...
MILAN: Italian refiner Saras and Russian partner Rosneft are eying the petrol station network that oil major Royal Dutch Shell is mulling selling in Italy, a Saras executive said on Wednesday."I think they (Rosneft) are probably going to take a look and we hope to be able to cooperate with them," Saras Managing Director Dario Scaffardi said in a conference call after the company reported core earnings of 48.2 million euros ($62.56 million) in the ...
LONDON: Crude prices fell on Tuesday after the International Energy Agency declared that booming oil output in North America, driven by the shale energy revolution, has created a global "supply shock" that is reshaping the industry.In London early afternoon deals, Brent North Sea crude for delivery in June sank 56 cents to $102.26 a barrel.New York's main contract, West Texas Intermediate (WTI) or light sweet crude for June, shed 43 cents to $94.74 a barrel."North ...
LONDON: Crude prices fell below $103 a barrel on Monday weighed down by a drop to an eight-month low in oil demand in China, the world's second-largest consumer.An unexpected rise in US retail sales in April which pointed to underlying strength in the economy failed to change the market direction.China's refinery crude throughput fell 3 percent in April from March, its lowest daily rate since last September, as refineries entered maintenance season. Implied oil demand ...
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