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

Posted by Forexsq 2 days ago (
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.

Oil Slump Rings Alarm Bells for Nigeria as Elections Loom

Posted by Forexsq 2 days ago (
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 2 days ago (
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

Russia Loses Oil Ally in De Margerie After Moscow Crash

Posted by Forexsq 1 day 18 hours ago (
img Christophe de Margerie’s last act as chief executive officer of Total SA (FP) left no room for doubt about his feelings toward Vladimir Putin’s Russia.

In a Moscow speech hours before the plane crash that took his life two days ago, de Margerie said U.S. and European Union sanctions on the country were “unfair and unproductive,” and that he opposed efforts to render it “isolated from the major

Gold sinks as investors embrace risk

Posted by Forexsq 18 hours ago (
img Gold futures fell Thursday, undercut as upbeat economic data and favorable corporate earnings results propelled stocks higher, signaling renewed investor appetite for risk and undercutting demand for so-called safe-haven assets like gold

Oil Producers Cramming Wells in Risky Push to Extend Boom

Posted by Forexsq 18 hours ago (
img U.S. shale producers are cramming more wells into the juiciest spots of their oilfields in a move that may help keep the drilling boom going as prices plunge.

The technique known as downspacing aims to pull more oil at less cost from each field, allowing companies to boost profit, attract more investment and arrange needed loans to continue drilling. Energy companies see closely-packed wells a

Shale Boom’s Allure to Wall Street Tested by Bear Market

Posted by Forexsq 18 hours ago (
img Falling oil prices are testing investors’ commitment to the Wall Street-funded shale boom.

Energy stocks led the plunge earlier this month in U.S. equities and the cost of borrowing rose. The Energy Select Sector Index is down 14 percent since the end of August, compared with 3.8 percent for the Standard & Poor’s 500 Index. The yield for 190 bonds issued by U.S. shale companies increased by an

Total CEO dies in plane crash

Posted by Forexsq 2 days ago (
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

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

Posted by Forexsq 3 days ago (
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

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

Posted by Forexsq 6 days ago (
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 6 days ago (
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

Putin Loses His Best Friend: Expensive Oil

Posted by Forexsq 7 days ago (
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 9 days ago (
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 10 days ago (
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 10 days ago (
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

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