Oil Slump Rings Alarm Bells for Nigeria as Elections Loom

Posted by Forexsq 1 day 22 hours ago (http://www.bloomberg.com)
img Nigeria’s efforts to prop up its currency months before presidential elections are being undone by the slide in oil prices.

The naira tumbled to within 0.3 percent of a record low as Brent crude fell to the lowest level in more than four years. While some of the world’s biggest banks say the collapse in oil is just about over, further losses would force Africa’s largest producer to choose betw

French Oil Giant Boss Dies in Moscow Executive-Jet Crash

Posted by Forexsq 1 day 22 hours ago (http://www.bloomberg.com)
img Total SA (FP)’s Christophe de Margerie died when his airplane struck a snowplow on a Moscow runway, ending a career in which he oversaw the biggest expansion of oil reserves at the French energy giant in at least 15 years.

The 63-year-old chief executive officer, who’d been attending a summit of foreign investors in Russia, was returning to Paris when his private jet crashed in poor visibility

Gold Falls for Second Day on U.S., Europe Equity Gains

Posted by Forexsq 5 days ago (http://www.bloomberg.com)
img Gold futures fell for the second straight day as gains in equities reduced demand for the precious metal as a haven. Palladium climbed after yesterday approaching a bear market.

The Standard & Poor’s 500 Index rose as much as 1.7 percent, while European shares snapped the longest slump since 2003. U.S. housing starts gained in September after slumping a month earlier, government data showed to

Oil Collapse Gives Buyers Chance at Top Targets: Real M&A

Posted by Forexsq 5 days ago (http://www.bloomberg.com)
img The rapid drop in oil prices cut more than $20 billion from the price of some of the industry’s best assets. That may be enough to attract buyers.

Weakening global demand and a supply glut in the U.S. are dragging Brent crude oil to the cheapest level since 2010. That’s pushed down the high valuations that had stymied major deal making and left last year’s volume at the lowest level since the

Oil Workers Earning $179,000 Expose Norway to Crude Crash

Posted by Forexsq 2 days ago (http://www.bloomberg.com)
img Norway, where oil helped create one of the world’s most stable and prosperous societies, is among the most exposed to falling crude prices.

Though the blessings of energy wealth have hardly turned to a curse, the industry’s labor costs, which saw the average offshore worker earn $179,000 last year, threaten to curb investment in new projects as oil tumbles.

The country has already been copi

Total CEO dies in plane crash

Posted by Forexsq 1 day 22 hours ago (http://money.cnn.com)
img French oil company Total has confirmed the death of its chairman and CEO, Christophe de Margerie, in a crash between his private plane and a snowplow at Moscow international airport.

Three members of the plane's crew were also found dead at the scene of the accident.

Russian officials said they had already established that the snowplow driver was drunk but would also consider other possible

Ukraine, Russia, EU energy chiefs meet to finalize gas deal

Posted by Forexsq 1 day 22 hours ago (http://www.reuters.com)
img Russia and Ukraine aim to resolve an impasse over natural gas supplies on Tuesday as their energy ministers meet in Brussels for talks brokered by the European Union's energy commissioner.

Citing unpaid bills worth more than $5 billion, Russia cut off gas flows to Kiev in mid-June, adding to tensions sparked by Russia's annexation of Ukraine's Crimea region.

Putin Loses His Best Friend: Expensive Oil

Posted by Forexsq 6 days ago (http://www.bloomberg.com)
img The decline in oil prices may be depriving Russian President Vladimir Putin of his biggest ally.

Oil has been the key to Putin’s grip on power since he took over from Boris Yeltsin in 2000, fueling a booming economy that grew 7 percent on average from 2000 to 2008.

Now, with economic growth slipping close to zero, Russia is reeling from sanctions by the U.S. and the European Union over its

Oil near 2-year low as IEA cuts demand forecast

Posted by Forexsq 8 days ago (http://www.marketwatch.com)
img The collapse in crude-oil prices continued Tuesday, with the U.S. benchmark hitting its lowest level since November 2012 after the International Energy Agency made a further cut to its forecast for demand growth.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in November CLX4, -1.66% traded at $84.63 a barrel, down $1.11 or 1.3%. November Brent crude LCOX4, -2.74%

Oil Bear Market Tests OPEC Unity | Top Forex Brokers

Posted by Forexsq 9 days ago (http://www.topforexbrokers.com)
img Oil ministers from Kuwait and Algeria dismissed possible production cuts as crude’s slump to a four-year low prompted Venezuela to call for an emergency meeting of the Organization of Petroleum... moreShare it now!

Split between OPEC producers deepens as oil prices fall

Posted by Forexsq 9 days ago (http://www.marketwatch.com)
img A rift between OPEC members deepened over the weekend, as producers in the cartel moved in different directions amid falling oil prices.

Venezuela, which has been one of the most outspoken proponents of a production cut by the Organization of the Petroleum Exporting Countries, called over the weekend for an emergency meeting of the group to respond to falling prices. But Kuwait said Sunday tha

Keystone Be Darned: Canada Finds Oil Route Around Obama

Posted by Forexsq 14 days ago (http://www.bloomberg.com)
img So you’re the Canadian oil industry and you do what you think is a great thing by developing a mother lode of heavy crude beneath the forests and muskeg of northern Alberta. The plan is to send it clear to refineries on the U.S. Gulf Coast via a pipeline called Keystone XL. Just a few years back, America desperately wanted that oil.

Then one day the politics get sticky. In Nebraska, farmers do

This may well be the Goldilocks jobs report

Posted by Forexsq 19 days ago (http://www.marketwatch.com)
img One part, solid jobs growth, with a drop in unemployment.

But, a dash of pay stagnation. And some seasoning of declining participation.

That was Friday’s jobs report, and this stew may well have been ordered by the market wizards themselves.

The strong jobs growth means that economic growth, in the U.S. at least, can continue.

At the same time, that lack of pay growth will keep the Fe

Gold Falls to Lowest Since January, Set for Monthly Drop

Posted by Forexsq 22 days ago (http://www.bloomberg.com)
img Gold fell to the lowest level since January, set for the biggest monthly decline in 15, on the outlook for higher U.S. interest rates that strengthened the dollar. Silver dropped to the lowest in four years.

Gold retreated 6.3 percent in September, the most since June 2013. It’s within 0.4 percent of erasing this year’s gains, which were fueled partly by tensions in Ukraine and the Middle East

Oil Set for Biggest Quarterly Drop Since 2012 on Adequate Supply

Posted by Forexsq 22 days ago (http://www.bloomberg.com)
img Brent and West Texas Intermediate headed for the biggest quarterly decline in more than two years as abundant crude supplies offset the risk of disruption from conflict in the Middle East.

Futures were up 0.1 percent in London, trimming a drop of 13 percent since the beginning of July. The U.S. and its European and Arab allies have conducted thousands of air missions since starting a bombing c

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