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  • NEW YORK, June 2- Rhetoric against free trade from both likely U.S. presidential nominees poses a risk to the economy and consumers who would lose out if international trade is restrained, the chief executive of the largest U.S. railroad said on Thursday. Presumptive Republican nominee Donald Trump has criticized the North American Free Trade Agreement and...

  • TORONTO, June 2- Canada's main stock index rose on Thursday, led by energy and financial stocks as oil settled higher after a U.S. crude draw offset disappointment that some major producers did not restrain output. Oil rose after data showing a weekly drawdown in U.S. crude stockpiles offset a decision by the Organization of the Petroleum Exporting Countries not...

  • Treasury debt yields fell across the board on Thursday, undermined by worries about OPEC failing to agree on oil output, concerns over Britain's future in the EU, and overall uncertainty ahead of Friday's U.S. non-farm payrolls report. Thursday's OPEC meeting ended with no new policy or ceiling amid resistance from Iran, although Saudi Arabia vowed not to flood...

  • *Crude recovers as U.S. inventory draw overshadows no OPEC deal. NEW YORK, June 2- The euro declined on Thursday on the European Central Bank's cautious economic outlook, while oil prices recovered on a drop in U.S. crude inventories, erasing losses on OPEC's failure to reach a deal to set an output ceiling. U.S. and German government bond prices firmed on safe-haven...

  • *Brent closes above $50 a barrel for first time in 7 months. *OPEC meeting diluted by no output cap; Saudis pledge no ramp up. NEW YORK, June 2- Oil prices edged higher on Thursday, with Brent settling above $50 a barrel the first time in seven months, after the latest drawdown in U.S. crude stockpiles offset OPEC's failure to set a ceiling for its output.

  • "The fact that OPEC has decided to elect a secretary-general today after so many years of haggling is in itself a positive signal not only to the market but to the international community that OPEC is back, stronger," Barkindo told a small group of reporters after OPEC's meeting. OPEC had since 2012 been looking for a replacement for the current secretary-general,...

  • OTTAWA, June 2- There are no guarantees a free trade deal between Canada and the European Union will come into force and a lot of hard work still needs to be done, Canadian Trade Minister Chrystia Freeland said on Thursday. "We're taking nothing for granted and nothing is guaranteed," Freeland said in a phone interview from Paris where she attended a meeting of the...

  • *No output cap by OPEC; Saudis pledge no oversupplies either. NEW YORK, June 2- Oil prices rose on Thursday, with Brent returning to above $50 a barrel, after data showing a weekly drawdown in U.S. crude stockpiles offset OPEC's decision not to set a ceiling for its production. "It was more a definitive day for the EIA than OPEC," said Carl Larry, director of business...

  • *U.S. crude inventory data offsets OPEC impact. June 2- U.S. stocks were lower in afternoon trading on Thursday, having clawed back most of their losses after crude oil prices turned course to trade higher. Crude had dropped about 2 percent earlier on OPEC's failure to reach a deal to freeze output.

  • *ECB keeps rates on hold; no supply ceiling from OPEC. LONDON, June 2- Euro zone shares gave away early gains on Thursday after OPEC failed to agree an output ceiling for oil and the European Central Bank revised its inflation and growth forecasts only slightly higher. Oil and gas shares among the top sectoral fallers, down 0.5 percent after an OPEC delegate told...

  • *Market down earlier as OPEC failed to set output ceiling. NEW YORK, June 2- Oil prices rose on Thursday after data showing a weekly drawdown in U.S. crude stockpiles helped crude markets recover from OPEC's decision not to set a ceiling for its production. Market participants had followed the OPEC meeting in Vienna for signs the group may revive its collective...

  • LONDON, June 2- German 10- year bond yields fell to a three-week low on Thursday as the European Central Bank only tentatively upgraded its forecast for future inflation, just as oil prices skirted away from $50 a barrel. At a separate Organization of the Petroleum Exporting Countries meeting there was no apparent change of crude production policy, deflating...

  • OPEC is not the first cartel that has sought to manage the global price of a commodity and serve the interest of its members, but at 56 years old and still going, it has outlived all of them. But after nearly two years of letting the market determine global prices, and of members failing to agree on any production targets or cuts, the future of OPEC has come into question,...

  • *US crude inventory data helps dilute OPEC impact. Oil prices had dropped about 2 percent earlier after the OPEC failed to reach a deal to freeze output, but the U.S. inventory data helped pare back losses to a fall of about 0.5 percent. "The bulk of the important data is going to be coming out tomorrow so markets tend to get relatively quiet, going into the sideways mode...

  • *Oil tumbles as OPEC fails to clinch output freeze deal. NEW YORK, June 2- The euro declined on Thursday on the European Central Bank's cautious economic outlook, while oil prices took a hard knock after OPEC failed to reach a deal to freeze output. Oil's recovery had been driven by hopes OPEC would reach an accord on a production freeze in an effort to address the...

  • LONDON, June 2- German 10- year bond yields fell on Thursday as the European Central Bank tentatively upgraded its forecast for future inflation, just as oil prices skirted away from $50 a barrel. At a separate Organization of the Petroleum Exporting Countries meeting there was no apparent change of crude production policy, deflating hopes for an output quota...

  • SAUDI ENERGY MINISTER SAYS OPEC WILL BE MORE THAN A TALKING SHOP.

  • SAUDI ENERGY MINISTER SAYS OPEC MAY NOT RETURN TO PREVIOUS STYLE OF MANAGING MARKET.

  • *OPEC ends meeting without output ceiling. NEW YORK, June 2- Oil prices fell more than 1 percent on Thursday as the Organization of the Petroleum Exporting Countries ended a recent meeting without setting a ceiling for its production. Market participants had followed OPEC's gathering in Vienna for signs of agreement on reviving the group's collective output...

  • LONDON, June 2- European shares edged into negative territory on Thursday after OPEC failed to agree an output ceiling for oil and the European Central Bank revised its inflation and growth forecasts only slightly higher. Oil and gas shares were the top sectoral fallers, down 1 percent after an OPEC delegate told Reuters that OPEC was not changing its ouptut...