CNBC Utilities Page Wires

  • *Cannot guarantee prices won't rise, due to Iran sanctions. LONDON, Oct 22- Saudi Arabia has no intention of unleashing a 1973- style oil embargo on Western consumers and will isolate oil from politics, the Saudi energy minister said on Monday amid a worsening crisis over the killing of Saudi journalist Jamal Khashoggi. Several U.S. lawmakers have suggested...

  • *Saudi Arabia, Italy, Brexit keep geopolitics in focus. SYDNEY, Oct 22- Asian share markets swung into the black on Monday as the promise of more stimulus boosted Chinese stocks for a second session and helped offset geopolitical concerns over Saudi Arabia, Italy and Brexit. Blue chips in Shanghai jumped 4.8 percent in the largest daily gain in three years, adding to...

  • TOKYO, Oct 22- Japanese government bond prices dipped slightly on Monday on caution that the Bank of Japan could float changes to allow bigger moves in the market at its meeting with market players the following day. The meeting will take place amid rising view that the central bank might be thinking of tweaking its market operations to make the bond market more...

  • NEW YORK, Oct 22- U.S. refiners are expected to post strong earnings for the third quarter, with Midwest producers leading the way thanks to cheaper prices for Canadian crude that pushed down input costs. Because of transportation constraints, Canada's oil has a steeper discount than U.S. crude, and analysts believe this should benefit refiners situated in the...

  • SHANGHAI, Oct 22- Share markets in China surged on Monday morning in the wake of coordinated statements of support for plunging equity markets by senior regulators, and as China prepares to overhaul its income tax law for individuals. On Friday, Chinese Vice Premier Liu He, who oversees the economy and financial sector, joined the heads of the China Securities...

  • LAUNCESTON, Australia, Oct 22- With China's anti-pollution restrictions starting to take effect, one of the conventional market wisdoms is that this will boost demand for high-grade iron ore. This time around Beijing has allowed local authorities to set their own anti-smog measures, changing from last winter's policy of imposing blanket cuts on certain...

  • *Spot gold may hover below $1,235/ oz- technicals. On Oct. 15, the bullion touched its highest since July 26 at $1,233.26. At the same time, there is a risk-off sentiment, "said Argonaut Securities analyst Helen Lau.

  • SINGAPORE, Oct 22- The euro and the British pound managed to hold steady against the dollar on Monday as investors cautiously awaited developments around Brexit as well as Italy's budget plan which drew heavy criticism from the European Union. Tensions with Saudi Arabia and the West, trade frictions and uncertainly about the global growth outlook kept most...

  • *Sanctions against Iran oil exports to start Nov. 4. *Other producers will struggle to replace Iran shortfall- IEA. The U.S. sanctions on the oil sector in Iran, the third-largest producer in the Organization of the Petroleum Exporting Countries, are set to start on Nov. 4.

  • BEIJING, Oct 22- China's tax cuts next year could exceed the equivalent of 1 percent of gross domestic product, a central bank adviser said in remarks published on Monday, in a sign policymakers might be considering another round of tax reductions. Beijing has pledged a more proactive fiscal policy to shore up the world's second-largest economy, which is...

  • Oct 22- PNC Financial Services Group's PNC Bank will use technology from digital lender OnDeck Capital to extend loans to small businesses online, the companies said on Monday. From 2019, businesses in the United States will be able to apply for lines of credit of up to $100,000 through their mobile devices or computers on PNC's website and receive an answer...

  • NEW YORK/ MEXICO CITY, Oct 22- The new North American trade agreement ends key legal protections for many U.S. businesses operating in Mexico, leaving their operations exposed to a risk they had avoided under the old trade deal: Mexico's court system. Mexico is the third-largest U.S. trading partner. The previous trade agreement, NAFTA, included provisions that...

  • *Leland to become Asia Pacific ex Japan investment banking head. HONG KONG, Oct 22- Goldman Sachs Group Inc has named veteran banker Todd Leland as its investment banking head for Asia Pacific excluding Japan, according to an internal memo seen by Reuters, adding to leadership changes at the bank with CEO David Solomon taking over this month.

  • TAIPEI, Oct 22- Taiwan's Mega International Commercial Bank will immediately terminate its payment clearing mechanism between Taiwan and Iran in a response to the United States' sanctions on Iran, a senior bank official told Reuters on Monday. The official declined to be identified as he was not authorised to speak to the media. In August, three people familiar...

  • *Sanctions against Iran oil exports to start Nov. 4. *Other producers will struggle to replace Iran shortfall- IEA. *But U.S.- China trade war clouds 2019 outlook.

  • *Saudi Arabia, Italy, Brexit keeps geopolitics in focus. SYDNEY, Oct 22- Asian share markets pared early losses on Monday as Chinese stocks swung higher for a second session and helped offset geopolitical concerns over Saudi Arabia, Italy and Brexit. Blue chips in Shanghai climbed 3.5 percent in early trade there, extending Friday's bounce on Beijing's pledge of...

  • *Sanctions against Iran oil exports to start Nov. 4. *Other producers will struggle to replace Iran shortfall- IEA. While the Organization of the Petroleum Exporting Countries agreed in June to boost supply to make up for expected Iran disruptions, an internal document reviewed by Reuters suggested that OPEC is struggling to add barrels to the market as an...

  • BEIJING, Oct 22- London copper prices rose for a second session in early Asian trade on Monday, extending a rally fueled by a pledge from China's central bank that it would support firms with liquidity problems. *OTHER METALS: Nickel was the biggest gainer, tracking gains in China's ferrous complex to rise 1.7 percent in London and 1.9 percent in Shanghai.

  • SYDNEY, Oct 22- U.S. soybean futures fell for a third session in a row to hit a near two-week low on Monday as a trade war between Washington and China depressed demand for North American supplies. *The most active soybean futures on the Chicago Board Of Trade were down 0.1 percent at $8.56 a bushel by 0119 GMT, near the session low of $8.55-1/ 2 a bushel- the lowest since...

  • *Saudi Arabia on Sunday called the killing of journalist Jamal Khashoggi at its Istanbul consulate a "huge and grave mistake," but sought to shield its powerful crown prince from the widening crisis, saying Mohammed bin Salman had not been aware. *President Donald Trump said Washington would withdraw from a landmark Cold War-era treaty that eliminated nuclear...