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Wires

  • LONDON, Dec 12- Oil rose above $65 a barrel for the first time since mid-2015 on Tuesday following a shutdown of the UK's biggest North Sea oil pipeline, which helps set the benchmark for global prices. Brent crude, the global benchmark, was up by 36 cents at $65.05 at 1414 GMT, after breaking above $65 for the first time since June 2015 and trading as high as $65.83.

  • LONDON, Dec 12- Scotland's 200,000 barrel per day Grangemouth oil refinery has enough crude to keep running even as the Forties pipeline that supplies it will be shut for weeks, a spokesman for operator INEOS said on Tuesday. Oil prices spiked to more than two-year highs on Tuesday after INEOS said the Forties pipeline, which it also operates, will be closed for...

  • *Output seen at 37.7 mln bales vs pvs forecast of 40 mln bales. MUMBAI, Dec 12- India's cotton output is set to rise 9.3 percent in 2017/ 18 but won't be the record high predicted by industry analysts as bollworm had caused damage in some regions, a government official said on Tuesday. Overall production by India, the world's biggest cotton producer, could touch 37.7...

  • *Oil rises above $65 a barrel; Chevron, Exxon higher. The benchmark Brent crude, gained more than 1.65 percent to rise above $65 a barrel for the first time since mid-2015 after an unplanned shutdown of the UK's biggest North Sea oil pipeline. Boeing shares were set to open at a record high after the company said it would raise its quarterly dividend by 20 percent and...

  • VIENNA, Dec 12- The fire that broke out at Austria's main gas pipeline hub on Tuesday, killing one person and disrupting supplies to Italy and other countries, has been put out, the site's operator said.

  • LONDON, Dec 12- A new wave of "heat-not-burn" tobacco products are probably safer than traditional cigarettes but the devices still produce a number of potentially harmful compounds, some of which are carcinogenic, a British panel of experts said on Tuesday. Cigarette maker Philip Morris International has led the way in developing the new non-burn products and...

  • AIG's underwriters have been using the computerized analysis since November, which combines information from a new insurance application designed for the process and data about current cyber threats to generate scores on various related factors, said Tracie Grella, AIG's global head of Cyber Risk Insurance, in an interview. AIG on Tuesday also announced a...

  • LONDON, Dec 12- The British Labour Party's would-be finance minister, John McDonnell, has accepted an invitation for talks at the Wall Street bank Goldman Sachs as it seeks better relations with a political party whose leaders have pilloried bankers. Banks in London had hardly bothered to court Labour since 2015, when it elected the leftist Jeremy Corbyn as its...

  • IEA SAYS MONITORING FORTIES OIL PIPELINE CLOSURE "CLOSELY", BUT SEES NO NEED TO ACT YET AS MARKET REMAINS WELL SUPPLIED.

  • WASHINGTON, Dec 12- U.S. producer prices rose in November as gasoline prices surged and the cost of other goods increased, leading to the largest annual gain in nearly six years. The fairly strong report from the Labor Department on Tuesday suggested a broad acceleration in wholesale price pressures, which could assuage concerns among some Federal Reserve...

  • JERUSALEM, Dec 12- Israel's markets regulator said on Tuesday bitcoin-based companies would not be included in any indexes on the Tel Aviv Stock Exchange but that does not mean they should be banned from trading. Hauser, the chairman of the Israel Securities Authority, said in a speech there was a need for a suitable regulatory framework for such instruments...

  • LONDON— A legal document obtained by The Associated Press says that Italian prosecutors want to drop their investigation into the 2015 breach of surveillance company Hacking Team, leaving a question mark over a dramatic leak which embarrassed intelligence figures across the globe. A redacted, three-page court document shared with the AP on Tuesday says...

  • NEW YORK, Dec 12- U.S. Treasury yields reached session peaks on Tuesday as data showed domestic producer prices recorded their largest annual gain in nearly six years in November, supporting the view inflation may be picking up. At 8:37 a.m., the yield on benchmark 10- year government notes was 2.401 percent, up 1.6 basis points from late on Monday, while the...

  • WASHINGTON— Prices at the wholesale level rose 0.4 percent in November and 3.1 percent over the past year. Last month's increase in the producer price index, which measures inflation pressures before they reach the consumer, marked the third straight month that wholesale prices have risen by 0.4 percent, the Labor Department reported Tuesday.

  • TREASURY YIELDS TOUCH SESSION HIGHS AFTER U.S.

  • US DOLLAR INDEX RISES TO 93.93 AFTER STRONG PRODUCER PRICE DATA.

  • *Brent jumps above $65 for first time since mid-2015. LONDON, Dec 12- Britain's biggest oil pipeline from its North Sea fields is likely to be shut for a number of weeks for repairs, operator INEOS said on Tuesday, sending international crude prices to their highest since the middle of 2015.. The closure has also disrupted gas flows through the network, which carries...

  • HAMBURG/ BERLIN, Dec 12- Germany's KBA automotive watchdog on Tuesday announced a recall of Volkswagen's flagship European sport-utility vehicles with 3- liter diesel engines after detecting two illicit emissions control devices in the models. The recall of the Touareg model of the latest Euro 6 diesel generation was ordered on Dec. 8 and affects 57,600...

  • LONDON, Dec 12- Oil rose above $65 a barrel for the first time since mid-2015 on Tuesday following a shutdown of the UK's biggest North Sea oil pipeline, which helps set the benchmark for global prices. Brent crude, the global benchmark, was up by 99 cents at $65.68 at 1312 GMT, after breaking above $65 for the first time since June 2015 and trading as high as $65.83.

  • *Italy, its biggest recipient, declares state of emergency. VIENNA/ LONDON, Dec 12- An explosion and fire that ripped through Austria's main gas pipeline hub on Tuesday killed one person and injured at least 18 others, prompting Italy to declare a state of emergency as flows from the strategic site were cut off. The Baumgarten site in eastern Austria, near Slovakia, is...