SINGAPORE, Dec 12- Brent futures held steady above $109 a barrel on Thursday as a looming U.S. budget deal backed expectations the Federal Reserve may act soon to unwind a stimulus programme that has supported oil prices, keeping investors at bay.» Read More
SINGAPORE, Dec 12- U.S. crude futures eased on Thursday after losing more than a dollar in the previous session, as investors saw a steep decline in U.S. oil stocks as a move by refiners to avoid taxes rather than a sign of strong demand. *U.S. crude for January delivery was off 10 cents at $97.34 a barrel by 0049 GMT after dropping $1.07 on Wednesday.
Buckeye Partners L.P. said Wednesday that it completed its purchase of 20 liquid petroleum storage terminals from Hess Corp. for $850 million, expanding its business on the East Coast and the Caribbean. Buckeye, based in Houston, said 19 of the terminals are located on the East Coast, including one in New York Harbor. Hess Corp. shares fell $1 to close at $78.94.
WASHINGTON, Dec 11- Moscow might be willing to give Ukraine relief on the price of natural gas it imports from Russia if Kiev granted better terms for the Russian naval fleet in Ukraine's Crimea, a senior Russian official said on Wednesday.
Dec 11- Chevron Corp, the second-largest U.S. oil company, said it plans to spend $39.8 billion on projects and exploration in 2014, about 5 percent below the expected 2013 spending.
WASHINGTON, Dec 11- John Podesta's return to the White House could dim prospects for the Keystone XL pipeline's approval, environmentalists said Wednesday, as the Democratic Party elder and Keystone critic crafts policies to curb climate change.
NEW YORK, Dec 11- Natural gas futures hit 7- month highs on Wednesday after cold weather forecasts bumped up expectations for heating demand in the United States, while U.S. crude prices tumbled on a report showing a build in gasoline inventories. Copper rose for a fourth straight session in London, hitting a one-month high together with zinc.
NEW YORK, Dec 11- Brent oil rose on supply concerns as traders remained skeptical that Libyan oil exports would resume while U.S. crude fell after government data showed large builds in refined oil products, suggesting sluggish oil demand.
NEW YORK, Dec 11- Stock markets worldwide slipped on Wednesday after a budget deal in Washington removed some of the fiscal uncertainty hanging over the U.S. economy, boosting expectations the Federal Reserve may soon start reducing its stimulus.
CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.
NEW YORK, Dec 11- Stock markets worldwide slipped on Wednesday after a budget deal in Washington removed some of the fiscal uncertainty hanging over the economy, boosting expectations the Federal Reserve may soon start reducing stimulus.
The cheapest gas is currently in Del City, Oklahoma at $2.67 today, reports CNBC's Sharon Epperson.
*Two new pipelines set to drain oil from Cushing. NEW YORK, Dec 11- Crude oil futures prices fell on both sides of the Atlantic as a U.S. inventory report showed a build in gasoline stocks and Libya said its ports could reopen by the weekend, raising the prospect of more crude in the world market.
CALGARY, Alberta, Dec 11- Encana Corp, Canada's largest natural gas producer, will boost liquids production by 30 percent in 2014 as it moves to execute a plan from its new chief executive to concentrate spending on regions rich in high-value gas liquids and oil.
NEW YORK, Dec 11- Stock markets worldwide slipped on Wednesday after the U.S. Congress announced a provisional budget deal, which heightened expectations of a stimulus reduction by the Federal Reserve.
LONDON, Dec 11- Oil rose above $109 a barrel on Wednesday, erasing earlier losses after closely-watched U.S. inventory data showed the biggest draw on crude oil stocks this year.
TRIPOLI, Dec 11- Libya's government expects eastern tribes to reopen three oil ports this weekend as pledged but refuses to deal with an autonomy movement demanding a share of oil exports, Prime Minister Ali Zeidan said on Wednesday.
NEW YORK, Dec 11- U.S. gasoline futures fell to a session low after U.S. government data showed an inventory build much higher than analysts' expectations. U.S gasoline inventories rose by 6.7 million barrels, data from the U.S. Energy Information Administration showed on Wednesday, compared with the forecast in a Reuters poll for a 1.8 million barrel build.
MEXICO CITY, Dec 11- Mexico's Senate on Wednesday signed off on an energy bill that aims to lure private capital into the state-run oil and gas industry in the biggest shake-up since a 1938 nationalization, sending it to the lower house for debate and final approval.
CNBC's Sharon Epperson reports oil supplies dropped by 10.6 million barrels and gasoline supplies rose by 6.7 million barrels.
*Two new pipelines set to drain oil from Cushing. LONDON, Dec 11- Oil edged down below $109 a barrel on Wednesday, shrugging off forecasts of surging global demand from the west's energy watchdog, while the market awaited U.S. data that is expected to show a drop in crude stockpiles.