Forex / Middle East news

LONDON (Thomson Financial) - Oil continued to trade lower on the day after US fuels inventory data showed gasoline stocks rose last week above market expectations.Motor fuel stocks rose by 1.2 mln barrels in the week to July 6 while crude stocks dipped by 1...

LONDON (Thomson Financial) - Oil eased from near record highs as traders took profits ahead of a weekly US fuel stocks report which is likely to move prices.The market is expecting gasoline stocks, which are in short supply, to have risen slightly by 750,000 barrels last week, which would signal inventories remain at lower levels...

LONDON (Thomson Financial) - Oil hit a fresh 11-month high having already risen for nine days running and is still well supported by concerns of a global supply crunch and on technical trading."It's pure supply and demand," said Andy Henderson, a trader at CMC Markets...

LONDON (Thomson Financial) - Oil eased after rallying to an 11-month high yesterday, as traders hesitated over the extent of the gains, whilst waiting for the release of tomorrow's key US fuel inventories figures to give the market direction.Nine days of rising prices took oil to within sight of last August's all time high of 78...

LONDON (Thomson Financial) - Oil rose further above 76 usd in London in afternoon trade, moving closer to all-time highs as news of more kidnappings in Nigeria added to ongoing supply worries in the market.London's Brent crude contracts for August delivery rose to 76...

LONDON (Thomson Financial) - The government has been severely criticised by a group of MPs for not outlining the costs of military operations in Iraq and Afghanistan and for spending in the current year without parliamentary approval.The House of Commons defence select committee said it was "entirely unacceptable" that the Ministry of Defence (MoD) refused to show all its estimated annual spending at the start of the financial year as other departments are required to...

LONDON (Thomson Financial) - Oil prices topped 76 usd in early afternoon trade, nearing their highest ever levels, amid supply worries linked to escalating geopolitical tensions, the upcoming north Atlantic hurricane season, North Sea maintenance schedules and low US gasoline stocks...

LONDON (Thomson Financial) - Oil prices continued lower after climbing near their highest ever levels in London on Friday, as the restart of a key Texas refinery and the release of a kidnapped British girl in Nigeria prompted profit taking.But analysts said the market remains beset by supply worries linked to escalating geopolitical tensions, the upcoming north Atlantic hurricane season, North Sea maintenance schedules and US refinery outages...

LONDON (Thomson Financial) - The International Energy Agency warned in its 'medium term oil market report' that is sees increasing oil market tightness until 2012 and expects OPEC's spare production capacity will drop to minimal levels.The agency, an advisor to 26 industrialised nations of the OECD region, said its forecast for tighter oil markets in based on an expected increase in oil product demand growth and a drop in global supply growth...

LONDON (Thomson Financial) - Oil prices edged lower after climbing near their highest ever levels in London on Friday, as traders took profits amid news the 3-year-old British girl kidnapped in Nigeria last week had been released.But analysts said oil will not fall far, as the market remains concerned over the unrest in key producer Nigeria and is still worried that US gasoline supplies will be stretched tight this summer...

WASHINGTON (AP) - U.S. officials, wanting to keep up financial pressure on Iran, plan to meet with European allies next week.Although a range of issues related to thwarting terrorist financiers is expected to be discussed, much of the talks with government officials and representatives of financial institutions will center on Iran, said Stuart Levey, Treasury undersecretary for terrorism and financial intelligence...

LONDON (Thomson Financial) - Oil prices topped 76 usd per barrel in London, close to last year's all-time record high above 78 usd, amid unrest in Nigeria and broader concerns over global supply.London's benchmark Brent crude contracts for August touched 76...

LONDON (Thomson Financial) - Oil rose near 76 usd a barrel in London, its highest levels in nearly 11 months and near last year's all-time record of over 78 usd, amid ongoing tensions in key producer Nigeria and broader worries over global supplies.Traders at Man Financial said prices were also being driven by technical factors, adding that with worries creeping into the market over the upcoming North Atlantic hurricane season, oil could yet top 78 usd a barrel...

LONDON (Thomson Financial) - Oil dipped as traders saw yesterday's rally to fresh 10 month highs as slightly overdone, even as they remained concerned over renewed tensions in Nigeria and over the longer term supply outlook in the US.A report released yesterday by the US Energy Information Administration showed a surprise increase in US crude stocks and a larger-than-expected increase in gasoline supplies...

LONDON (Thomson Financial) - Oil prices fell from 10-month highs after weekly US government data showed a surprise rise in crude oil stocks on robust imports, and a larger than expected increase in gasoline stockpiles.However, prices in London remained underpinned by technical factors and by concerns over renewed attacks in Nigeria...

LONDON (Thomson Financial) - Oil hit another new 10 month high, rising above 74 usd in London, as traders focused on renewed violence in Nigeria and expectations US crude stocks probably fell last week."I think there's more room on the upside... Obviously all eyes will be on the (inventory) numbers this afternoon for any hint of bullishness," said a trader at Man Financial...

LONDON (Thomson Financial) - Increased refinery rates in the US are likely to have helped ease record high crude stocks and pushed out more gasoline last week.Analysts polled by Thomson Financial News expect a weekly snapshot of fuel inventories, due to be released later today, to show crude stocks fell 420,000 barrels, gasoline up 410,000 barrels and distillates to have gone up by 100,000 barrels in the week to June 29...

LONDON (Thomson Financial) - Oil rallied to a fresh 10 month high near 74 usd a barrel, with traders awaiting the release of a US inventory report expected to show crude stocks fell last week as refiners ramped up gasoline production.Although the report is also expected to show gasoline stocks rose slightly last week, analysts say the rise might not be enough to ease the market's concerns over US fuel supplies...

LONDON (Thomson Financial) - Oil hit a fresh 10-month high on concerns US fuel supply is tightening, while renewed Nigerian political tensions lent further support.Data due tomorrow from the US, the world's top consumer, is likely to show that crude stocks fell 420,000 barrels last week, said analysts polled by Thomson Financial News...

LONDON (Thomson Financial) - Oil was still lower in light trade, but remained close to yesterday's 10-month high as market players not on vacation for the US Independence day kept their focus on concerns over US fuel supplies and unrest in key producer Nigeria...