U.S. crude gained 14 cents to $101.58 a barrel by 0028 GMT, after settling 31 cents lower in the previous session. Oil exports from Iraq's southern terminals are heading for a record high in April, according to loading data and industry sources, reflecting Iraq's efforts to expand capacity and deliver supply growth in 2014..» Read More
CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Downward pressure on stocks drove down oil prices today. Nat gas was up slightly on the day, albeit in a tight range. And gold was up slightly on the day, closing at $1,284.60.
*U.S. oil stocks hit record high, Cushing draw supports. *Ukraine says truce is over, Russia says will respond. NEW YORK, April 23- Crude oil futures slipped on Wednesday after weekly data showed U.S. crude inventories hit a record high, though Brent managed to settle above $109 on support from the ongoing crisis in Ukraine.
The Transportation Department, worried about the potential for catastrophic accidents involving oil and ethanol trains that are sometimes as many as 100 cars long, is drafting new tank-car regulations aimed at making the cars less likely to spill their contents in the event of a crash.
*Russia proposes April 28 for Moscow meeting. BRUSSELS/ MOSCOW, April 23- European and Russian officials will meet this week and next for emergency talks to try to prevent Moscow cutting off gas supply to Ukraine, as Europe explores how to pump more gas to the struggling country.
PARIS, April 23- France's Total expects the biggest share of its oil and gas output to come from Russia by 2020 and plans to stay there for the long haul despite recent tensions with the West over Ukraine, a top executive said.
India is set to pay Iran $1.65 billion under an interim nuclear deal that eases sanctions and gives Tehran access to $4.2 billion in blocked funds.
NEW DELHI, April 23- India is set to pay Iran $1.65 billion over the next three months under an interim nuclear deal that eases sanctions on Tehran and gives it access to $4.2 billion in blocked funds, four sources with knowledge of the matter said.
TORONTO— Canada said Wednesday it was phasing out the type of rail tankers involved in last summer's massive explosion of a runaway oil train that incinerated much of a town in Quebec, killing 47 people and prompting intense public pressure to make oil trains safer.
*Ukraine says' Easter truce' is over. *Survey shows China manufacturing decline slows. LONDON, April 23- Brent oil fell below $109 on Wednesday after weekly data showed U.S. crude inventories hit a record high, though prices found some support from the unfolding crisis in Ukraine.
CNBC's Jackie DeAngelis reports crude oil inventories increased 3.5 million barrels, in line with expectations.
*Gazprom has agreed to lower gas price- sources. MOSCOW/ BEIJING, April 23- Europe's plans to reduce its dependence on Russian energy as the Ukraine crisis threatens supplies are spurring efforts by Russia's top producer, Gazprom, to sign a deal next month to pump gas to China, industry sources say.
CNBC's Jim Cramer explains why he is watching shares of Concho Resource, Pioneer Natural, and Barrick Gold.
BANGKOK, April 23- PTT Exploration and Production Pcl, Thailand's top oil and gas explorer, has bought Hess Corp's assets in Thailand in a $1 billion deal as part of its attempt to boost its gas business, the company's CEO said on Wednesday.
*Rosneft met with Angola and Mozambique officials this week. MOSCOW, April 23- Russian oil producer Rosneft may expand in the African countries of Angola and Mozambique, where its boss Igor Sechin served as a Soviet translator in the early 1980 s.
TRIPOLI, April 23- Libya plans deep austerity measures to tackle a budget deficit expected to reach up to 10 billion Libyan dinars this year due to rebel blockades which have strangled oil production, a senior lawmaker told Reuters. Libya traditionally runs large surpluses thanks to oil export revenues.
BRUSSELS/ KIEV, April 23- The European Commission said on Wednesday it is working on holding talks with Ukraine and Russia on a possible solution to Kiev's gas crisis, but no date has been set.
KIEV, April 23- Russia, the European Commission and Slovakia may hold talks with Ukraine on Thursday on a possible solution to the country's gas crisis, Ukraine's Energy Minister Yuri Prodan said. Prodan told reporters on Wednesday that Moscow and the European Union had suggested the ministerial meeting, which would be held in the Slovak capital of Bratislava.
*Ukraine says' Easter truce' is over. LONDON, April 23- Brent crude oil edged higher above $109 a barrel on Wednesday after stronger-than-expected economic data from China and Europe reinforced the outlook for global demand growth, and as the unfolding crisis in Ukraine deterred sellers.
CAIRO, April 23- Egypt needs to find at least $5 billion to invest in its dilapidated power grid, a government official told Reuters, highlighting a major challenge for the next president as the country faces the risk of worsening blackouts this summer.
*Luanda offers contrasts of conspicuous wealth and poverty. LUANDA, April 23- In Luanda's Jumbo supermarket, a half-litre tub of imported vanilla ice-cream used to cost $25, testament to the Angolan capital's rank as one of the world's most expensive cities.
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