12052016Mon
Last update: Mon, 05 Dec 2016 01pm

Europe

Markets - Energy - Europe

Oil prices ease on doubts OPEC-led cut will end glut LONDON: Oil prices edged lower on Wednesday on investors' doubts that OPEC would agree a large enough production cut to significantly reduce the global surplus when it meets next week. International Brent crude futures were down 6 cents at $49.06 a barrel by 1313 GMT.The price has moved in a narrow band for most of the day after reaching a high of $49.42 a barrel in early trade. Reuters commodities analyst Wang Tao said Brent could rise to $49.85 per barrel, a level marked by several technical resistance factors. US West Texas Intermediate (WTI) crude oil futures fell 12 cents to $47.91 a barrel after rising to $48.30 earlier on Wednesday. "Yesterday you saw the price action, it closed close to unchanged. It's uncertain whether OPEC can do a deal.The market is divided in its opinion that's why the market is not moving much," said Olivier Jakob of Petromatrix consultancy ...

Markets - Energy - Europe

Oil prices capped by doubts OPEC-led cut will end glut LONDON: Oil prices edged higher on Wednesday but gains were capped by investors' doubts that oil cartel OPEC would agree to a large enough production cut to significantly reduce the global surplus when it meets next week. A strong dollar, trading near the 13 1/2-year peak hit last week, also weighed on prices amid thin trading ahead of the US Thanksgiving holiday on Thursday.International Brent crude oil futures rose 11 cents to $49.23 a barrel ...

Markets - Energy - Europe

Oil prices rise to highest this month on hopes of OPEC deal LONDON: Oil prices rose on Tuesday to their highest this month as a growing consensus emerged in the market that OPEC would overcome internal disputes and scepticism to strike a deal that materially reduces crude output. Some warned a failure by the Organization of the Petroleum Exporting Countries to reach agreement at a Nov. 30 meeting, or, more importantly to implement it, would send prices crashing as a two-year glut of crude remained unabated.Many in ...

Markets - Energy - Europe

Oil set for first weekly gain in five on OPEC deal optimism LONDON: Brent crude oil prices were headed for their first weekly gain in five on Friday buoyed by renewed hopes that OPEC might agree production cuts, but a stronger US dollar capped gains.Brent crude oil futures were flat at $46.49 per barrel at 1101 GMT. US West Texas Intermediate (WTI) crude oil futures were down 7 cents at $45.35 a barrel and were on track for a their first weekly gain in four. OPEC member ...

Markets - Energy - Europe

Shell's North Sea oil trading draws spotlight again this year LONDON: Royal Dutch Shell has snapped up a large volume of North Sea oil that helps set the global Brent benchmark, trade sources said, the second time this year that its trading activities have attracted the glare of the spotlight. Shell, the world's second-largest oil company, runs some of Europe's biggest refineries, including the 404,000-barrels-per-day Pernis facility, and is one of the biggest traders in the North Sea crude market, the home of the Brent ...

Markets - Energy - Europe

Oil prices rise on Saudi optimism over OPEC deal LONDON: Oil prices rose on Thursday as expectations of an OPEC deal to limit production outweighed evidence of global oversupply and rising inventories, particularly in the United States. Saudi Energy Minister Khalid al-Falih said he was optimistic OPEC would formalise a preliminary oil output deal reached in Algeria in September. "I'm still optimistic that the consensus reached in Algeria for capping production will translate, God willing, into caps on states' levels and fair and balanced ...

Markets - Energy - Europe

Oil falls on higher US crude inventories, strong dollar LONDON: Oil prices fell on Wednesday, returning some of the gains made in one of the year's biggest rallies a day earlier, after weekly US crude stocks rose beyond expectations and a strong dollar weighed on commodities. Global benchmark Brent crude was down 34 cents at $46.61 a barrel at 1410 GMT. It closed Tuesday 5.7 percent higher on news that members of the Organization of the Petroleum Exporting Countries would renew efforts to limit ...