Europe
Monday, 29 April 2013 16:37
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LONDON: Brent crude oil slipped towards $103 per barrel on Monday as a shaky outlook for growth in the world's biggest oil consumers, the United States, Europe and China, encouraged commodities markets to consolidate. Oil rallied from nine-month lows last week on expectations that stronger global economic activity would encourage more fuel consumption, but disappointing data has capped the recovery. The US Commerce Department reported on Friday the world's largest economy grew at an annual rate of 2.5 percent in the first-quarter, below expectations of 3 percent. Confidence in the euro zone's economy fell further in April, European Commission figures showed on Monday, with morale in the 17-country bloc down 1.5 percentage points to 88.6, worse than forecast by economists. "Disappointing GDP data for the United States has raised concerns about the level of oil demand and led to some profit-taking after recent big gains," said Carsten Fritsch, senior oil ...
LONDON: Brent crude oil slipped to $103 per barrel on Monday as an uncertain outlook for growth in the world's two largest oil consumers, the United States and China, encouraged commodities markets to consolidate.Oil rallied from nine-month lows last week on expectations that stronger global economic activity would encourage more fuel consumption, but disappointing data capped the recovery.The US Commerce Department reported on Friday that the world's largest economy grew at an annual rate of ...
MADRID: Spain reported Monday a fall in annual inflation in April as energy costs tumbled in the recession-hit economy.Consumer prices over the year to April climbed just 1.5 percent, after a 2.6-percent advance the previous month, according to preliminary data from the National Statistics Institute.When compared to March, prices were up just 0.1 percent.Falling fuel and electricity prices dragged down the annual inflation rate, which was adjusted to smooth out the impact of seasonal blips, ...
SINGAPORE: Brent crude dropped below $103 a barrel on Monday as investors fretted about the uncertain outlook for growth in the world's two largest oil consumers, the United States and China.The crude benchmark remains more than 6 percent below its starting point in April, pressured by a slew of economic data in recent weeks suggesting the global economy remains on a fragile footing at best.Brent had slipped 49 cents to $102.67 a barrel by 0502 ...
PARIS: French oil giant Total said Friday its first quarter net profit fell by more than half as it booked a huge loss on its withdrawal from a Canadian tar sands project.At 1.54 billion euros ($2 billion), net profit in the first quarter fell by 58 from the same period the previous year.At the end of March, Total announced it had pulled out of tar sands project in the northern part of the Canadian province ...
OSLO: Nordic spot power prices gained slightly on lower wind power output but this was partly offset by imports of cheaper power from the continent, analysts at Point Carbon said on Wednesday. The Nordic average day-ahead power price for Thursday came out at 40.72 euros ($53.00) per megawatt-hour (MWh) on the Nordic power exchange versus 39.92 euros for Wednesday. The day-ahead contract in the financial market was last traded at 40.50 euros MWh. Spot prices ...
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