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  • NEW YORK, April 20- U.S. crude oil inventories rose slightly less than expected last week, while distillate stockpiles posted an unexpected and huge drawdown, data from the Energy Information Administration showed on Wednesday. "Distillates are the standout bullish element of the report and gasoline is the disappointment," said Matt Smith, director of...

  • TOKYO, April 20- Crude futures fell on Wednesday after Kuwaiti oil workers ended a three-day strike that had cut production from the Middle Eastern country, and data showed U.S. stockpiles rose last week. Brent crude futures were down 68 cents at $43.35 a barrel at 0302 GMT. On Tuesday, they settled up $1.12, or 2.6 percent, at $44.03 a barrel.

  • *Kuwait oil strike shuts over 60 pct of its production. *Brent ends down 0.4 pct; off 7 pct first on Doha talks collapse. "The material loss in production from the Kuwait strike has helped the oil market forget about the farce from Doha," said Matt Smith, director of commodity research at the New York- headquartered Clipperdata.

  • *Brent up; fell 7 pct earlier on collapse of Doha talks. The producers had gathered in Qatar, Doha at the weekend for what was expected to be the rubber-stamping of a deal to stabilize output at January levels until October. "The material loss in production from the Kuwait strike has helped the oil market forget about the farce from Doha," said Matt Smith, director of...

  • *Oil prices down 7 pct earlier after collapse of Doha freeze plan. The producers had gathered in Qatar, Doha at the weekend for what was expected to be the rubber-stamping of a deal to stabilize output at January levels until October. "The material loss in production from the Kuwait strike has helped the oil market forget about the farce from Doha," said Matt Smith,...

  • April 11- Chesapeake Energy Corp surprised investors on Monday by keeping its $4 billion loan from banks despite concerns about its liquidity position at a time when many oil and gas producers are seeing their credit cut. Oklahoma City- based Chesapeake said it won the relief after pledging additional assets as collateral. Investors quickly pushed up...

  • File photo of a tornado in Milsap, Texas.

    Texas and Oklahoma were bracing Monday for a second round of severe storms and hail the size of tennis balls, reports NBC News.

  • April 10- The average price of a gallon of gasoline in the United States gained 8 cents in the past three weeks, according to a survey released on Sunday. Regular-grade gasoline climbed to around $2.10 a gallon in the Friday survey, from $2.02 a gallon on March 18, survey publisher Trilby Lundberg said in an interview. U.S. crude futures CLc1 inched up to $39.72 cents...

  • NEW YORK, April 8- TransCanada Corp expects to restart its Keystone crude pipeline by Saturday, upon receiving conditional approval from the Pipeline and Hazardous Materials Safety Administration, the company said in emailed statement on Friday. The pipeline, which delivers crude from Hardisty, Alberta, to Cushing, Oklahoma and to Illinois, was shut last...

  • *But soaring crude output in Iraq, Iran compounds glut. LONDON, April 8- Oil prices rose on Friday, lifted by hopes that a punishing global excess of crude oil could be nearing a tipping point and firm economic indicators from the United States and Germany that cast a positive light on growth in fuel demand. "You have declining supply in the United States and a...

  • *But soaring crude output in Iraq, Iran compounds glut. LONDON, April 8- Oil prices rose on Friday, lifted by fresh hopes over a proposed freeze in oil production and firm economic indicators from the United States and Germany that cast a positive light on growth in fuel demand. "You have declining supply in the United States and a declining rig rate," said Bjarne...

  • April 7- TransCanada Corp said on Thursday about 400 barrels could have spilled in South Dakota from its 590,000 barrel-per-day Keystone crude oil pipeline. The company said it provided the spill volume estimate to regulators on Thursday morning based on the excavation of soil to expose over 100 feet of pipe while it continues to investigate the source of the...

  • *Data shows Cushing build on week to Apr 5 despite Keystone. "The energy trade remains choppy amidst fundamental and macroeconomic cross-currents that are shifting daily," Jim Ritterbusch of Chicago- based oil markets consultancy Ritterbusch& Associates said in a note. The build came even though TransCanada Corp had shut since Saturday its 590,000 barrels per...

  • *Data shows Cushing build on week to Apr 5 despite Keystone. The build came despite TransCanada Corp having shut since Saturday its 590,000 barrels per day Keystone crude pipeline that moves crude to Cushing and Illinois. Genscape did note a 481,485- barrel decline at Cushing in the five days to Tuesday, apparently due to the Keystone shutdown that was caused by...

  • NEW YORK/ HOUSTON, April 6- The sudden closure and subsequent delay in restarting the Keystone crude pipeline has caused traders to sell off heavy Canadian oil for immediate delivery, trading sources said on Wednesday, while temporarily lending support to U.S. futures markets. The line, which delivers crude from Hardisty, Alberta to Cushing, Oklahoma, and on to...

  • NEW YORK, April 6- Oil prices surged more than 5 percent on Wednesday, heading for their largest gain in three weeks, after the U.S. government reported a surprise draw in domestic crude stockpiles versus market expectations for a new record high. Crude stocks unexpectedly fell 4.9 million barrels last week as refineries continued to hike output and imports...

  • NEW YORK, April 6- TransCanada Corp is delaying the restart of its 590,000 barrel per day Keystone crude pipeline to Tuesday from Friday, four traders familiar with the matter said on Wednesday. The line, which delivers crude from Hardisty, Alberta to Cushing, Oklahoma, and to Illinois, was shut over the weekend after a potential leak. Time spreads in the benchmark...

  • April 6- U.S. crude oil inventories unexpectedly fell from record highs last week as refineries continued to hike output and imports fell, while gasoline stocks rose, snapping a six-week decline, data from the Energy Information Administration showed on Wednesday. The EIA report was "modestly supportive" with the jump in refinery runs and fall in imports "...

  • NEW YORK, April 5- The sudden closure of the Keystone oil pipeline from Canada has forced Phillips 66 to shut several units at its Illinois refinery, sources said on Tuesday, as the ripple effects of disrupting one of the largest U.S. import lines spread. TransCanada Corp said it had shut its 590,000 barrel per day Keystone pipeline system, which carries light and...

  • CUSHING, OK, April 5- From the air above this small Oklahoma town, the 300 steel oil storage tanks that dot the landscape appear filled to the brim, their floating lids bobbing atop more than 65 millions of barrels of oil. Such worries make weekly estimates of Cushing stockpiles from the Energy Information Administration one of the hottest market indicators.