05282016Sat
Last update: Sat, 28 May 2016 10am

Europe

Markets - Energy - Europe

Oil firms before US inventories LONDON: Oil prices rose Wednesday before the release of US inventories data, but a pick-up in the dollar and rising Iranian crude output limited gains, analysts said.Crude closed lower for the third straight session Tuesday on renewed worries about a global supply glut as the United States and China released disappointing manufacturing data indicating ongoing weaknesses in the two economic giants.Traders are waiting for the release later Wednesday of US weekly stockpiles data, which is used as a gauge for demand in the United States, the world's biggest oil consumer. Analysts expect an increase that would keep inventories at more than 80-year highs.Around 1115 GMT, US benchmark West Texas Intermediate for delivery in June was up 17 cents at $43.82 a barrel.Brent crude for July delivery added 22 cents to $45.19 a barrel.Prices have surged over the past month hitting 2016 highs on signs of economic improvement in China, a ...

Markets - Energy - Europe

Oil rises above $45 after slide, Canada wildfire supports LONDON: Oil rose above $45 a barrel on Wednesday as reduced production in Canada's oil sands region due to a wildfire pushed aside concern about excess global supplies and expectations of rising US crude inventories. The Canadian province of Alberta was evacuating the entire population of Fort McMurray where a wildfire was taking hold in the heart of the country's oil sands region, prompting some companies to cut output. Brent crude was up 71 cents ...

Markets - Energy - Europe

Oil drops as higher output stokes concern over supply glut LONDON: Oil fell on Tuesday as rising output from the Middle East renewed concerns about global oversupply while economic data painted a negative backdrop for the outlook for demand. Brent crude futures were trading 40 cents lower at $45.43 a barrel at 1234 GMT, retreating from earlier gains. US crude futures were down 53 cents at $44.25 a barrel. Iraq said its oil shipments from southern fields averaged 3.364 million barrels per day (bpd) in ...

Markets - Energy - Europe

West African oil sailing east down in May on cooled Chinese buying LONDON: Chinese loadings of West African crude oil fell back from 19-month highs in May as delivery delays, port congestion and full tanks scuppered interest from private oil refineries, according to a Reuters survey of shipping fixtures and traders on Tuesday.China's bookings of West African crude fell to 981,000 barrels per day (bpd) for May loading, down from a 19-month high in April of 1.14 million bpd. Traders had warned for weeks that logistical bottlenecks ...

Markets - Energy - Europe

Russian oil output down in April, but still close to record MOSCOW: Russian oil output fell slightly to 10.84 million barrels per day (bpd) in April, Energy Ministry data showed on Monday, as production declined at large energy firms Lukoil, Gazprom Neft and Gazprom .Two sources close to the ministry had told Reuters that production would edge down in April because of seasonal maintenance at oilfields and refineries.Russian oil output hit its highest in nearly 30 years in March at 10.91 million bpd.Leading global oil producers ...

Markets - Energy - Europe

Oil prices retreat from 2016 highs on OPEC output boost LONDON: Oil prices retreated from 2016 highs on Monday as rising production in the Middle East outweighed a decline in U.S. output and a sliding dollar.Crude production by the Organization of the Petroleum Exporting Countries rose in April to 32.64 million barrels per day (bpd), close to the highest level in recent history.Russia, the biggest exporter outside OPEC, also increased monthly crude for seaborne exports by more than 7 percent to 3.117 million bpd in ...

Markets - Energy - Europe

Oil prices slip from 2016 highs on OPEC output boost LONDON: Oil prices edged back from 2016 highs on Monday as rising production in the Middle East outweighed a decline in U.S. output and a sliding dollar.Crude production by the Organization of the Petroleum Exporting Countries rose in April to 32.64 million barrels per day (bpd), close to the highest level in recent history.Iraq's April exports from southern fields increased, as did seaborne exports from Russia, the biggest exporter outside OPEC.Brent was trading at $47.20 ...