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Energy Commodities Oil

  • NEW YORK, Feb 23- Oil prices rose but gains were pared Thursday after U.S. government data showed a seventh straight build in crude stocks, suggesting high inventories could undermine OPEC's move to cut output. OPEC and producers including Russia aim to cut production by around 1.8 million barrels per day to drain an oversupply that has kept prices depressed for...

  • NEW YORK, Feb 23- U.S. crude oil stockpiles rose last week for a seventh straight week but less than forecast, while gasoline inventories fell far more than expected as refineries cut output, the Energy Information Administration said on Thursday. By 11:30 a.m. EST or half an hour after the report, however, U.S. crude futures pared gains to 1.5 percent at $54.40 a...

  • NEW YORK, Feb 23- Global stock prices posted record highs for a third straight session on Thursday, propelled by an oil rally after a surprise drop in U.S. crude inventories and comments by U.S. Treasury Secretary Steven Mnuchin about pursuing significant tax reform. This outlook for policy accommodation lifted gold prices to a three-month high near $1,250 an...

  • TORONTO, Feb 23- Canada's main stock index rose on Thursday as energy company stocks were boosted by gains in oil prices, while higher prices for bullion lifted shares of gold miners. The energy group climbed 1.3 percent, as oil prices rose more than $1 a barrel after U.S. data showed a surprise decline in inventories, suggesting a global glut may be ending after...

  • LONDON, Feb 23- Oil prices rose more than $1 a barrel on Thursday after U.S. data showed a surprise decline in inventories, suggesting that a global glut may be ending after moves by OPEC to cut production. OPEC and producers including Russia aim to cut production by around 1.8 million barrels per day to drain an oversupply that has kept prices depressed for more...

  • *Canadian dollar at C $1.3100, or 76.34 U.S. cents. TORONTO, Feb 23- The Canadian dollar strengthened against its U.S. counterpart on Thursday as prices of oil, one of Canada's major exports, climbed and the greenback retreated against a basket of major currencies. Canada sends 75 percent of its exports to the United States and could suffer badly if U.S.

  • ISTANBUL, Feb 23- Iran said on Thursday an increase in oil prices to more than $55 per barrel was not in the interest of OPEC as it would lead to a rise in output by non- OPEC producers, the semi-official Fars news agency reported. "If oil prices specifically surge over $55 or $60 per barrel, non- OPEC producers will increase their crude production to benefit the most from...

  • The Aramco oil refinery in Dahran, Saudi Arabia.

    Aramco IPO might set a precedent for listing oil assets managed by state enterprises.

  • LONDON, Feb 23- Oil prices rose more than $1 a barrel on Thursday after U.S. data showed a surprise decline in inventories, suggesting that a global glut may be ending after moves by OPEC to cut production. OPEC and producers including Russia aim to cut production by around 1.8 million barrels per day to drain an oversupply that has kept prices depressed for more...

  • Want for ECB to be less accomodative than it is: Bundesbank president

    Bundesbank President Jens Weidmann discusses pricing pressures in Germany and the European Central Bank's quantitative easing policy.

  • LONDON, Feb 23- Oil prices rose on Thursday after U.S. data showed a surprise decline in inventories, suggesting that a global glut may be ending after moves by OPEC to cut production. OPEC and producers including Russia aim to reduce production by around 1.8 million barrels per day in an attempt to drain an oversupply that has kept prices depressed for more than...

  • U.S. oil major Exxon Mobil Corp made the revision due to low oil prices throughout 2016, a company filing showed.

  • LONDON, Feb 23- Oil prices rose on Thursday after U.S. data showed a surprise decline in inventories, suggesting that a global glut may be ending after moves by OPEC to cut production. OPEC and producers including Russia aim to reduce production by around 1.8 million barrels per day in an attempt to drain an oversupply that has kept prices depressed for more than...

  • Royal Dutch Shell and ExxonMobil could see a 10 to15 percent hit to margins at their Singapore refineries when a new carbon tax takes effect in 2019.

  • That added to optimism earlier in the week when the Organization of the Petroleum Exporting Countries said a deal with other producers including Russia to curb output was showing a high level of compliance. However, for prices to break out of their trading ranges, the market needs to see signs that OPEC inventories are falling, said Tony Nunan, oil risk manager at...

  • Saudi Arabia doing heavy-lifting in OPEC deal: Pro

    Scott Darling of J.P. Morgan talks about compliance among member countries to the OPEC production cut agreement.

  • That added to optimism earlier in the week when the Organization of the Petroleum Exporting Countries said a deal with other producers including Russia to curb output was showing a high level of compliance. However, for prices to break out of their trading ranges, the market needs to see signs that OPEC inventories are falling, said Tony Nunan, oil risk manager at...

  • Australian airline Qantas, seen here with CEO Alan Joyce, launched daily flights between Sydney and Beijing in January 2017 for the first time since 2009 to capitalise on the increasing growth of the Australia-China travel market.

    Australian flag carrier Qantas Airways on Thursday announced better-than-expected 1H results, sending share prices rallying to a 10-month high.

  • However, for prices to break out of their trading ranges, the market needs to see signs that OPEC inventories are falling, said Tony Nunan, oil risk manager at Mitsubishi Corp. in Tokyo. "It's a battle between how quick OPEC can cut without shale catching up," Nunan said, referring to U.S. drilling in shale formations that has shown an upsurge after prices rose this year.

  • Oil jack pumps are pictured in the Kern River oil field in Bakersfield, Calif.

    Oil prices rose after data showed a small increase in U.S. inventories, suggesting a global glut is shrinking as OPEC cuts output.