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Oil and Gas Refining

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  • NEW YORK/ LONDON, June 13- The sudden eruption of an al Qaeda- linked militant insurgency in northern Iraq this week triggered the biggest oil price spike in almost a year, as traders feared a civil war that might also draw in oil-rich neighbors.

  • UPDATE 8-Oil climbs amid escalating conflict in Iraq Friday, 13 Jun 2014 | 2:14 PM ET

    *IEA plays down risk of sudden Iraq export hit. NEW YORK, June 13- Oil prices rose to new nine-month highs on Friday as concerns persisted that an insurgency in Iraq could disrupt oil exports from the second-largest OPEC producer.

  • *Obama warns of U.S. action as jihadists push on Baghdad. SINGAPORE, June 13- Brent crude climbed to a nine-month high near $115 a barrel on Friday, as supply disruption fears took centre stage after the United States threatened military action in Iraq against Sunni Islamist militants who are pushing on towards Baghdad.

  • BEIJING, June 13- China's implied oil demand fell 3.1 percent in May from the previous month to its lowest since August as refineries scaled back production for maintenance and continued to export surplus fuel to trim inventories as the nation's economy slowed.

  • *Brent spikes over $113 on Iraq supply worries; US over $106. NEW YORK, June 12- Oil prices jumped to nine-month highs on Thursday, as concerns mounted that escalating violence in Iraq could disrupt oil supplies from the second-largest OPEC producer.

  • *Brent hits six-month high over $112 on Iraq supply worries. NEW YORK, June 12- Oil prices jumped to the highest level this year on Thursday on growing concerns that escalating violence in Iraq could disrupt oil supplies from the second-largest OPEC producer.

  • UPDATE 7-Oil prices spike on escalating Iraq violence Thursday, 12 Jun 2014 | 12:54 PM ET

    *Brent hits 3- month high over $112 on Iraq supply worries. NEW YORK, June 12- Brent crude oil jumped 2 percent to above $112 a barrel on Thursday on mounting concerns that escalating violence in Iraq could disrupt oil supplies from the second-largest OPEC producer.

  • *Brent hits 3- month high over $112 on Iraq supply worries. LONDON, June 12- Brent crude oil climbed towards $112 a barrel on Thursday on worries that escalating violence in Iraq could disrupt oil supplies from the major OPEC exporter.

  • BEIJING, June 12- Chinese state-run oil trader Zhuhai Zhenrong Corp has entered a one-year supply agreement to buy Iranian South Pars condensate, in its first term contract for the light crude oil with the Middle East supplier, according to industry officials.

  • VIENNA, June 12- Iraq's biggest oil refinery at Baiji remained under government control on Thursday after Sunni rebels' offensive through northern Iraq, Iraqi Oil Minister Abdul Kareem Luaibi said. Luaibi said Iraq was not importing any additional fuel and that stored supplies of gasoline and diesel were good.

  • *Brent touches three-month high above $111 on Iraq supply worries. LONDON, June 12- Brent crude jumped more than $2 to over $112 a barrel on Thursday on worries that escalating violence in Iraq could disrupt oil supplies from the major OPEC exporter.

  • *Brent touches three-month high above $111 on Iraq supply worries. SINGAPORE, June 12- Brent futures rose above $111 a barrel on Thursday on worries that violence in Iraq could disrupt oil supplies, while a steeper-than-expected draw in U.S. oil stocks further supported prices.

  • *Brent touches 2- week high at $110.40 on Iraq supply worries. SINGAPORE, June 12- Brent futures rose above $110 a barrel on Thursday on worries that violence in Iraq could disrupt oil supplies, while an unexpected draw in U.S. oil stocks further supported prices.

  • Brent climbs above $110 on escalating violence in Iraq Thursday, 12 Jun 2014 | 12:36 AM ET

    *Brent touches 2- week high at $110.40 on Iraq supply worries. *Iraq violence could push Brent to $111.50- analyst. There has been a muted response in the oil markets so far to the situation in Iraq after an al Qaeda splinter group moved in on Iraq's largest refinery at Baiji, said Ric Spooner, chief market analyst at Sydney's CMC Markets.

  • NYMEX-US crude holds above $104 after fall in stockpiles Wednesday, 11 Jun 2014 | 7:34 PM ET

    Militants from an al Qaeda splinter group who seized Iraq's second biggest city of Mosul this week have advanced into the oil refinery town of Baiji.

  • *Iraq city of Mosul falls to militants. NEW YORK, June 11- Brent oil futures rose toward $110 a barrel on Wednesday as violence in Iraq prompted worries about the supply outlook, while U.S. crude struggled to make gains near key levels of resistance.

  • TRIPOLI, June 11- Libya's government, suffering from dwindling oil revenues, will allow its ministries to begin spending the $50 billion budget it submitted to parliament at the start of the year even though lawmakers have not voted on it.

  • UPDATE 9-Oil up near $110 on Iraq supply disruption fears Wednesday, 11 Jun 2014 | 1:00 PM ET

    *Iraq city of Mosul falls to militants. NEW YORK, June 11- Oil futures rose toward $110 a barrel on Wednesday as violence in Iraq prompted worries about the supply outlook, while a fall in U.S. gasoline stockpiles pointed to stronger seasonal demand.

  • LONDON, June 11- Russian oil firm Rosneft bought a cargo of Kurdish oil for a German refinery it co-owns with oil major BP, quietly circumventing Baghdad's ban on independent oil sales by its autonomous region, according to trading sources.

  • TRIPOLI, June 11- Libya's government, suffering from dwindling oil revenues, will allow its ministries to begin spending the $50 billion budget it submitted to parliament at the start of the year, even though lawmakers have not voted on it.