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Last update: Sun, 11 Dec 2016 06pm

Europe

Markets - Energy - Europe

Oil set for sixth straight day of declines LONDON: Oil futures were on course for their sixth straight day of falls on Friday as signs of tensions resurfaced between Saudi Arabia and Iran that could scupper a key supply cut pact while a surge in US crude inventories and muted demand continued to weigh.Brent crude futures were at $45.57 per barrel at 1217 GMT, down 79 cents from their last close. US West Texas Intermediate (WTI) futures were down 51 cents at $44.15 a barrel. At a meeting of OPEC experts last week, Riyadh threatened to raise oil output steeply to bring prices down if Tehran refused to limit its production, a source from the Organization of the Petroleum Exporting Countries (OPEC) said. The meeting was intended to work out the details of cuts ahead of the next OPEC meeting on Nov. 30 following a decision to reduce output in Algiers to 32.50-33.0 million barrels per day in ...

Markets - Energy - Europe

Top oil firms pledge $1bn over 10 years in climate push OSLO: Top oil companies including Saudi Aramco, Shell and Statoil will invest $1 billion over the next decade to develop and accelerate the commercial deployment of innovative low emissions technologies, Statoil said on Friday. Reuters on Nov. 2 broke the news that the Oil and Gas Climate Initiative, as the group is called, would announce details of their plans on Friday.Copyright Reuters, 2016 ...

Markets - Energy - Europe

Oil prices find floor after falls on supply glut woes LONDON: Crude oil futures edged up on Thursday, supported by news of an attack on a Nigerian oil pipeline and a weaker US dollar, after four days of falls over scepticism that a global glut in crude supplies could be stemmed. Brent crude was trading up 33 cents, or 0.7 percent, at $47.19 a barrel by 1020 GMT. US crude was up 28 cents, or 0.6 percent, at $45.62 per barrel.Futures hit five-week lows on ...

Markets - Energy - Europe

Med Crude-Urals prices unchanged, seaborne exports may rise in Nov MOSCOW: Urals prices in northwest Europe and the Mediterranean were stable on Wednesday, while buyers and sellers of the grade waited to see if Moscow will authorise higher crude supplies to Belarus or will have to boost seaborne exports in November.Moscow has yet to approve an increase in oil supplies to neighbour Belarus, despite pledges to do so, amid a row over gas prices, industry sources told Reuters on Wednesday. Traders said some oil producers ...

Markets - Energy - Europe

Gazprom sceptical on EU role in Ukraine row, Opal gas pipeline access MOSCOW: Russia's Gazprom on Wednesday played down the EU's decision to ease access to the Opal gas pipeline, crucial to Moscow's plans to boost supplies via the Baltic Sea, and dismissed the bloc's role as mediator in a row with Ukraine. Last week, the European Union lifted a cap on Gazprom's use of the Opal pipeline in Germany which takes gas from its Nord Stream Baltic Sea pipeline to end-users in Germany and the Czech ...

Markets - Energy - Europe

Oil extends losses after report shows surprise US stocks build LONDON: Crude oil prices fell for a fourth day on Wednesday as jittery investors awaited official US stockpile figures later in the day after industry data showed a surprise build in inventories, underlining the market's supply overhang. The American Petroleum Institute said that crude stockpiles rose by 9.3 million barrels in the week to Oct. 28, more than nine times the amount expected by analysts polled by Reuters. US West Texas Intermediate crude fell by ...

Markets - Energy - Europe

Statoil says sizeable oil finds in North Sea still possible STAVANGER: Norway's Statoil believes sizeable oil finds can still be made in the North Sea even though the area has been explored for decades, a senior company executive said on Tuesday.The search for oil and gas has been hit by energy firms' reduced spending, triggered by a slump in crude prices since mid-2014, yet the oil major still sees a large potential. "We believe there is at least another 500 million barrels oil discovery to ...