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Last update: Tue, 31 May 2016 07am

Europe

Markets - Energy - Europe

Oil prices rise on Nigeria outages, Goldman forecast LONDON: Oil prices jumped over 2 percent on Monday to their highest since November 2015 on growing Nigerian oil output disruptions and after long-time bear Goldman Sachs said the market had ended almost two years of oversupply and flipped to a deficit.Brent crude futures were trading at $48.83 per barrel at 1118 GMT, up $1 or 2.05 percent. U.S. crude futures were up 98 cents, or 2.08 percent, at $47.19 a barrel.Supply disruptions around the world of as much as 3.75 million barrels per day (bpd) have wiped out a glut that pulled down oil prices by as much as 70 percent between 2014 and early 2016.The disruptions triggered a U-turn in the outlook of Goldman Sachs, which had long warned of global storage hitting capacity and of yet another oil price crash to as low as $20 per barrel."The oil market has gone from nearing storage saturation to being ...

Markets - Energy - Europe

GLOBAL LNG-Prices tick higher as supplies tighten MILAN/LONDON: Asian liquefied natural gas (LNG) prices firmed this week as supply growth from new and existing producers continued to frustrate expectations. Traders said that liquidity was thin in Asia this week with prices for June delivery at $4.65 per million British thermal units (mmBtu), compared with $4.55 per mmBtu last week. Spot LNG prices for July delivery were seen at similar levels. "Some buyers in Asia may be willing to pay a premium to ...

Markets - Energy - Europe

Oil falls as dollar strengthens but traders eye Nigerian outages LONDON: Oil prices ended a three-day bull run on Friday, falling as a strong dollar weighed and investors cashed in on recent gains, though losses were cushioned by outages in Nigeria that have slashed output there to the lowest in 22 years. The dollar hit a two-week high against a basket of currencies, lifted by expectations the US Federal Reserve will raise rates again before any other major central bank. The strong US currency weighed ...

Markets - Energy - Europe

Oil price falls from 2016 high LONDON: Oil prices fell Thursday on profit-taking, after New York crude reached the highest level this year on signs that the global supply glut was easing.In early trading, New York's benchmark contract reached $47.02 a barrel -- a highest point since early November.Later around 1630 GMT and after traders booked profits, New York's West Texas Intermediate for delivery in June stood at $45.98 a barrel, down 25 cents compared with Wednesday's close.Brent North Sea crude ...

Markets - Energy - Europe

Oil prices near six-month peaks LONDON: Oil prices held near six-month peaks on Thursday as the IEA forecast a sharp drop in the supply glut, and following a surprise fall in US crude reserves.Around 1130 GMT, European benchmark Brent North Sea crude for July gained 26 cents to $47.86 a barrel compared with Wednesday's close.New York's West Texas Intermediate for delivery in June won 42 cents to stand at $46.65 a barrel, after soaring the previous day to its highest ...

Markets - Energy - Europe

Oil rises towards six-month high after IEA sees tighter supply LONDON: Oil prices rose towards six-month highs on Thursday, supported by data from the International Energy Agency (IEA) showing tightening supply in addition to a surprise drop in US crude inventories.Brent crude futures were trading at $47.87 per barrel at 1101 GMT, up 27 cents from their last settlement and near a six-month high of $48.50 hit at the end of April.West Texas Intermediate (WTI) US crude futures were 35 cents higher at $46.58."We could ...

Markets - Energy - Europe

Oil prices jump on US data LONDON: Oil prices rallied further Wednesday after data revealed an unexpected drop in US crude inventories, with analyst blaming the fall on Canada's wildfires causing disruption to exports across the border.At around 1600 GMT, US benchmark West Texas Intermediate for delivery in June was up $1.24 at $45.90 a barrel.Brent North Sea crude for July surged $1.50 to $47.02 a barrel compared with Tuesday's close.The US Department of Energy (DoE) on Wednesday said the country's ...