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Tag Archives: Brent crude

US stocks are little changed in early trading

US stocks are little changed in early trading

NEW YORK (AP) — Stocks were little changed in morning trading Thursday as investors continued to watch the price of oil, which was moving lower. Salesforce.com jumped after the company reported strong fourth-quarter results and raised its full-year forecast. KEEPING SCORE: The Dow Jones industrial average edged up six points to 16,492 as of 10:16 a.m. Eastern time. The Standard ...

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UK oil industry sounds alarm on North Sea amid market drop

UK oil industry sounds alarm on North Sea amid market drop

LONDON — The number of new investment projects in the North Sea has collapsed amid a fall in oil prices, underscoring fears for the future of the basin and the jobs it creates. Oil & Gas UK, an industry association, said in its annual survey Tuesday that some 1 billion pounds ($1.4 billion) was expected for new projects, compared to ...

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Oil price drop pushes Total SA profit down 26 percent

In this Feb.5, 2013 file photo, the logo of the French oil giant Total SA is seen at the entrance of the company headquarters in the La Defense business district, west of Paris. The French company said Thursday Feb.11, 2016 that profit adjusted for changes in the value of inventories and one-time items dropped to $2.1 billion from $2.8 billion in the same period a year earlier.(AP Photo/Jacques Brinon, File)

PARIS (AP) — Total SA says its fourth quarter earnings skidded 26 percent as the collapse in oil prices hit another global energy giant. The French company said Thursday that profit adjusted for changes in the value of inventories and one-time items dropped to $2.1 billion from $2.8 billion in the same period a year earlier. Oil prices have been ...

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The Latest: Oil price rises as production talks continue

A man is reflected on the electronic board of a securities firm in Tokyo, Wednesday, Feb. 17, 2016. Asian stock markets were mostly higher Wednesday as investors weighed the potential outcome of a preliminary agreement between Russia and Saudi Arabia to hold off on further increases in crude oil production, possibly alleviating a growing glut in supply. (AP Photo/Shizuo Kambayashi)

LONDON (AP) — The Latest on global financial markets (all times local): 12:05 a.m. The price of oil is edging up as major crude producing countries discuss a potential output freeze with skeptic Iran. Four nations, including Russia and Saudi Arabia, agreed on Tuesday to freeze their output levels if other producers do the same. Iran has so far rejected ...

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Russia open to meeting with major oil-producing countries

Russian Foreign Minister Sergey Lavrov talks during a press conference with his UAE counterpart Sheikh Abdullah bin Zayed Al Nahyan in Abu Dhabi, United Arab Emirates, Tuesday, Feb. 2, 2016. (AP Photo/Kamran Jebreili)

ABU DHABI, United Arab Emirates — Russia says it is open to a meeting with fellow major oil-producing nations to discuss production levels amid a plunge in global oil prices. Foreign Minister Sergey Lavrov told reporters in the United Arab Emirates on Tuesday that Moscow is “open for other forms of cooperation, if there is general interest in holding a ...

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AP Interview: CEO hopes to settle Saudi firm’s $6B of debts

DUBAI, United Arab Emirates — A Saudi company that’s owed $6 billion in debt since a 2009 crisis hopes to soon reach a tentative agreement with its creditors and present it to officials in the kingdom by July, its acting CEO said Thursday. The size of the fallout after the default by Ahmad Hamad Algosaibi and Brothers Co., coupled with ...

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Saudi Aramco expects oil prices to rise by end of 2016

RIYADH, Saudi Arabia — Saudi Arabia’s state-owned oil giant expects oil prices will climb toward the end the year, saying the current price of around $30 a barrel is not sustainable. Saudi Aramco’s CEO Amin Nasser, speaking Tuesday at an investment conference in the kingdom, says there are indications that demand for oil picked up last year and that the ...

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Oil lifts shares and bond yields

People walk through the lobby of the London Stock Exchange in London, Britain November 30, 2015. REUTERS/Suzanne Plunkett

NEW YORK – Stocks rose around the world and bond yields edged up on Tuesday as oil rebounded from 11-year lows on prospects for lower temperatures on both sides of the Atlantic. The fall in oil prices has been a major driver of financial markets this year, hammering energy companies, lowering inflation expectations and reinforcing bets on loose monetary policy ...

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Inflation expectations in euro zone fall to lowest since October

Inflation expectations in euro zone fall to lowest since October

LONDON – A closely followed measure of long-term market euro zone inflation expectations fell to its lowest level since October on Wednesday, pushed down by this week’s sharp fall in oil prices to 11-year lows. The five-year, five-year breakeven forward <EUIL5YF5Y=R>, a measure of where markets expect 2025 euro zone inflation forecasts to be in 2020, fell to 1.6625 percent, ...

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Energy stocks lead market gain with oil price up

Energy stocks lead a market gain as oil price climbs

NEW YORK — U.S. stocks were solidly higher for a third straight day on Wednesday, once again helped by higher oil prices, which lifted shares in oil and gas companies. KEEPING SCORE: The Dow Jones industrial average was up 114 points, or 0.7 percent, to 17,532 as of 2:10 p.m. Eastern. The Standard & Poor’s 500 index rose 17 points, ...

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