Oil and Gas Oil and Gas Refining

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  • Brent crude futures fell 22 cents to $39.04 a barrel as of 0136 GMT. The front-month contract for U.S. crude futures dropped 26 cents to $38.06 a barrel, after settling up 4 cents in the previous session following a gain of 3 percent earlier in the session. Prices will "zig-zag" for the rest of the year, said Tony Nunan, oil risk manager at Japan's Mitsubishi Corp..

  • The front-month contract for U.S. crude futures dropped 29 cents to $38.03 a barrel by 0021 GMT, after settling up 4 cents in the previous session following a gain of 3 percent earlier in the session. Brent crude futures fell 25 cents to $39.01 a barrel after ending the previous session up 12 cents, having retreating from a session peak of $40.61.

  • *Weak dollar, Wall Street rally lent support to oil. NEW YORK, March 30- Oil prices settled steady on Wednesday, erasing most of the day's gains, after U.S. government data showed crude inventories at all-time peaks again despite strong refinery runs. Crude stockpiles in the United States rose 2.3 million barrels last week, reaching a seventh straight week of record...

  • *Weak dollar, Wall Street rally limit downside in oil. Crude stockpiles in the United States rose 2.3 million barrels last week, reaching a seventh straight week of record highs at 534.8 million barrels, the Energy Information Administration reported. U.S. crude futures' front-month contract was down 5 cents at $38.23 a barrel by 1:57 p.m. EDT on selling by...

  • *Wall Street rally, weak dollar still bolster oil. Brent crude's front-month contract was up 40 cents, or 1 percent, at $39.54 a barrel by 11:49 a.m. EDT. U.S. crude's front-month rose 30 cents, or 0.8 percent, to $39.58, reaching $39.85 earlier.

  • NEW YORK, March 30- U.S. crude oil stockpiles rose less than expected last week as imports fell and refinery runs rose, while gasoline and distillate inventories drew down, data from the Energy Information Administration showed on Wednesday. "Large decline in imports likely contributed to the smaller-than-expected crude oil build," said Dominic Chirichella,...

  • March 25- Qatar has invited all OPEC members and major producers from outside the exporting group to attend talks on April 17 on a deal to freeze output at January levels to support the global oil market, Qatar's energy ministry said on Tuesday. "The need has become an urgent matter to bring back balance to the market and recovery to the global economy," the ministry...

  • *Fedun: Iran cannot raise oil output sharply without foreign cash. MOSCOW, March 24- Iran's participation is not essential for the oil market to move closer to balance if a global agreement on freezing production is signed in Doha next month, Leonid Fedun, one of Russia's most prominent oil bosses, said on Thursday. Last year, Russia and OPEC refused to cooperate on...

  • *OPEC, Russia output freeze may be' meaningless'- IEA. NEW YORK, March 24- Oil prices fell to below $40 a barrel on Thursday, on track to their first weekly loss in over a month, pressured by record high U.S. stockpiles, weakening equity markets and a strong dollar. A senior executive from the International Energy Agency, meanwhile, said a deal among a few OPEC producers and...

  • LONDON, March 24- The political economy of oil prices in the United States is complicated. The United States is the world's largest oil consumer and one of its biggest importers. And its oil is medium-cost, more expensive to produce than the large fields in the Middle East but cheaper than frontier areas like the Arctic.

  • LIMA, March 23- State-owned energy company Petroperu said on Wednesday that it expects its crude oil pipeline in northwestern Peru to resume operations in about 65 days after two ruptures halted the flow of about 5,500 barrels per day. Petroperu president German Velasquez added that the closure of the pipeline had not affected its Talara refinery.

  • ABUJA, March 23- OPEC member Nigeria expects oil producers to agree a supply freeze at a meeting in Doha next month which should stabilize crude prices even if Iran does not join, its petroleum minister said on Wednesday. Qatar has invited OPEC members and major non- OPEC producers to meet on April 17 to agree a freeze following an initial deal in February between...

  • LONDON, March 23- Trading houses are betting on oil markets remaining oversupplied for at least two more years even as crude prices stage a recovery driven by early signs of falling production. Ian Taylor, chief executive of top oil trader Vitol, said on Tuesday that "stocks of crude and products continue to build and these will weigh upon the market."

  • LONDON, March 23- Trading houses are betting on oil markets remaining oversupplied for at least two more years even as crude prices stage a recovery driven by early signs of falling production. Ian Taylor, chief executive of top oil trader Vitol, said on Tuesday that "stocks of crude and products continue to build and these will weigh upon the market."

  • HOUSTON, March 21- The refinery in Aruba plans to start hiring workers in April to repair and upgrade the 235,000- barrel-per-day plant, while its proposed new operator, Citgo Petroleum, continues talks with the government to sign a contract to lease the idled facility, sources close to the deal told Reuters. Talks between Citgo, Venezuelan PDVSA's refining unit,...

  • LONDON, March 21- The United States will probably consume a record amount of gasoline in 2016, passing the previous peak set in 2007, and the prospect is helping lift crude oil prices. A rapid expansion in U.S. gasoline consumption has coupled with strong demand growth in India and China, falling crude output in the United States, and hedge funds turning bullish, to...

  • Gas prices are on the rise

    The average price of a gallon of gasoline gained nearly 25 cents in the past four weeks.

  • BEIJING, March 21- China's monthly oil imports from Saudi Arabia hit their second highest level on record in February, while arrivals from Russia also surged, as weak crude prices prompted the world's top energy consumer to bring in record high volumes last month. Saudi Arabia was China's top supplier in February with shipments of 1.38 million barrels per day,...

  • A gas flame is seen in the desert near the Khurais oilfield operated state oil giant Saudi Aramco, about 160 km (99 miles) from Riyadh.

    Saudi Aramco wants to buy more U.S. refining and chemical plants once the break-up of its Shell JV is done, sources said.

  • *Oil slump left Nigeria short of funds to import oil products. LONDON/ ABUJA, March 17- Nigeria is set to ramp up the amount of crude oil it swaps for vital gasoline imports by more than a third as it grapples with the worst economic crisis in years and upheaval in its graft-ridden energy sector. A more than 60 percent drop in global oil prices since 2014 has hammered...