Search Results for: crude
Wall Street closes flat to end five-week rally
March 25th, 2016
Wall Street snapped a five-week winning streak on Thursday, with the three major indexes closing mostly flat, as a strengthening dollar weighed on commodity-related shares. The Dow Jones industrial average rose 13 points, or 0.08%, to 17,516, the S&P ...
HSBC reports on Oil prices scenarios
March 24th, 2016
Despite hopes that lower oil prices will stabilise global growth, experience suggests otherwise. Growth was disappointing in 2015 even though the oil price had plunged in 2014. While developed-world consumer spending grew at the fastest rate since before the ...
Asia markets slip amid Fed concerns, oil fall
March 24th, 2016
Asia markets ended lower Thursday, amid fresh declines in oil prices and concerns the U.S. Federal Reserve may hike interest rates sooner than expected. Japan’s Nikkei 225 ended down 108.65 points, or 0.64 percent, at 16,892.33, while South Korea’s Kospi index fell 9.15 ...
OPEC expects upsurge in oil prices with or without Iran
March 23rd, 2016
Crude prices will rise to a “moderate level” even if Iran joins the Russian-Saudi production freeze at a later date, predicts the Organization of the Petroleum Exporting Countries (OPEC). The world’s leading oil producers, including non-OPEC members, are meeting ...
Oil slightly lower after Brussels attacks; US stockpile weighs
March 23rd, 2016
Oil prices have held up better after the Brussels attacks than many had expected but market watchers are keeping their eyes peeled for any sharp moves that may follow. U.S. WTI light sweet crude oil price are down 0.8 percent at $41.10 ...
Saudis to take control of largest U.S. refinery
March 22nd, 2016
The crown jewel among America’s oil refiners may soon be owned by Saudi Arabia. Saudi Aramco, the state oil company of OPEC’s most powerful player, recently announced plans to take full control of the sprawling Port Arthur, Texas refinery. ...
Russia Deals Deepen India Hold in China Oil-Buying Backyard
March 22nd, 2016
India lift stakes in Siberia fields connected to ESPO pipeline China is biggest buyer of Russian crude, including ESPO supply India is expanding its footprint in China’s backyard by forging deals with Russia for stakes in Siberian fields that supply ...
Asia mixed in quiet trading session, with Nikkei up 1.9%
March 22nd, 2016
Asia markets were mixed in a quiet session on Tuesday, with a weaker yen buoying Japanese stocks while Chinese stocks gave up some of their Monday gains. Japan’s Nikkei 225, which reopened after a public holiday Monday, closed up 323.74 ...
Iraq exports first natural gas shipment in its history
March 21st, 2016
Iraq has exported the first shipment of natural gas in its history, a key development for the OPEC member. The move revives a long-sought ambition by Iraq to be a gas exporter, thanks to a joint venture with Anglo-Dutch ...
Non-Opec member Oman yet to be invited to Doha meeting
March 21st, 2016
Oman has said it’s yet to receive an invite to a historic meeting of oil producers, where they’re expected to discuss freezing output to support prices. This is despite Oman being the largest non-opec oil producer in the Middle ...
