12042016Sun
Last update: Sun, 04 Dec 2016 02am

Europe

Markets - Energy - Europe

Oil market rattled by deadly Brussels blasts LONDON: Oil prices seesawed on Tuesday, rattled by investor nervousness after deadly blasts in Brussels prompted a flight towards so-called safe-haven assets such as gold.A suicide bomber blew himself up at Brussels airport on Tuesday killing at least 11 people and a further blast tore through a rush-hour metro train in the Belgian capital shortly afterwards, claiming 10 lives, public broadcaster VRT said.Oil had risen earlier in the session following a drop in U.S. inventory levels that helped ease some of the concern around oversupply that could dampen future price recoveries.Brent crude futures were up 5 cents at $41.59 a barrel by 1127 GMT, having risen to a session high of $41.75. Brent has gained over 50 percent from January's 12-year lows.U.S. May crude futures were down 6 cents at $41.46."The stocks (fall) in Cushing (U.S. oil delivery hub) helped ... but obviously now you have these headlines from Brussels ...

Markets - Energy - Europe

Nigeria's oil exports set to rise in May despite Forcados trouble  LONDON: Nigeria's crude oil exports were on track to increase in May, a compilation of loading programmes showed on Monday.Exports of several key grades were set to rise from the previous month, including Bonny Light, Agbami and Escravos, the early loading programmes showed.Other exports, including the largest stream of Qua Iboe as well as Brass River, had the same amount of cargoes, but a slightly lower total by barrels per day (bpd) due to the ...

Markets - Energy - Europe

Oil slips but holds above $41 LONDON: Oil prices slid Tuesday but held above $41 after OPEC confirmed an April meeting of key crude producing nations against a backdrop of excess supplies.Around 1230 GMT on Friday, US benchmark West Texas Intermediate (WTI) for delivery in May was down 47 cents at $41.05 a barrel.Brent North Sea crude for May delivery shed 30 cents to $41.24 a barrel compared with Monday's close.OPEC's secretary-general Abdalla El-Badri said in Vienna on Monday that 15-16 ...

Markets - Energy - Europe

Oil prices build on gains LONDON: Oil prices pushed higher Monday, building on last week's rally, despite fresh oversupply concerns on an increase in US rigs output, analysts said.Last week's gains lifted US benchmark West Texas Intermediate (WTI) above $40 for the first time since December, buoyed by a sharp drop in the dollar and revived optimism that producers would strike a deal to freeze output.Around 1730 GMT on Monday, WTI for delivery in April was up 62 cents at ...

Markets - Energy - Europe

Morocco's sole debt-ridden oil refinery ordered shut RABAT: A Casablanca court Monday ordered the winding up of Morocco's sole oil refinery SAMIR after it was unable to honour debts amounting to several billion euros, a judicial source said.The ruling came after an attempt to resolve the issue with creditors failed, the source told AFP, speaking on condition of anonymity."The customs service and all of the creditors rejected the proposed financial offer from (company chief) Sheikh Mohammed Hussein al-Amoudi because it was derisory," ...

Markets - Energy - Europe

Oil prices edge up from day's lows; supply freeze talks in focus LONDON: Oil prices rallied on Monday, reversing earlier losses, as the market digested news of a modest rise in U.S. drilling activity, though uncertainty lingered over the outcome of a meeting of the world's major exporters next month to discuss freezing output.U.S. energy firms last week added one oil rig after 12 weeks of cuts, according to data from industry firm Baker Hughes. Oil rigs have fallen by two-thirds over the past year to their ...

Markets - Energy - Europe

Oil prices steadier after gains LONDON: Oil prices were steady Monday after last week's rally, as traders reacted to renewed oversupply concerns spurred by an increase in US rigs output, analysts said.Last week's gains lifted US benchmark West Texas Intermediate (WTI) above $40 for the first time since December, buoyed by a sharp drop in the dollar and revived optimism that producers would strike a deal to freeze output.Around 1230 GMT on Monday, WTI for delivery in April was down ...