European stocks slide, oil rallies, traders await US jobs data

European stocks slide, oil rallies, traders await US jobs data

LONDON, Aug 5 (Reuters) – European stocks fell slightly on Friday but were still poised for a weekly gain as traders waited for U.S. jobs data later in the session to give hints on the health of the world’s largest economy. The MSCI Global Equity Index, which tracks stocks from 47 countries, rose 0.2% and … Read more

Oil tumble on demand fears, supply tightness offers floor

Oil tumble on demand fears, supply tightness offers floor

FILE PHOTO – A PetroChina worker inspects a pump cylinder at an oilfield in Tacheng, Xinjiang Uyghur Autonomous Region, China June 27, 2018. REUTERS/Stringer AT Join now for FREE unlimited access to Reuters.com Register BoE raises rates and warns of recession risks Saudi Arabia and the United Arab Emirates save their oil firepower in the … Read more

Oil drops 4%, under pressure from surprise U.S. crude and gasoline construction

Oil drops 4%, under pressure from surprise U.S. crude and gasoline construction

Sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. REUTERS/Angus Mordant Join now for FREE unlimited access to Reuters.com Register U.S. crude and gasoline inventories rise unexpectedly – EIA OPEC+ decides on a small increase of 100,000 bpd in production … Read more

OPEC+ agrees to small production increase in Biden setback

OPEC+ agrees to small production increase in Biden setback

OPEC to raise production target by 100,000 bpd from September OPEC faces production challenges to meet existing targets US seeks OPEC production boost to counter Russia Biden trip, US arms sales did not convince DUBAI/LONDON, Aug 3 (Reuters) – OPEC+ is set to raise its oil production target by 100,000 barrels a day, an amount … Read more

EXCLUSIVE Airbus strikes remaining A350 deal with Qatar Airways – sources

EXCLUSIVE Airbus strikes remaining A350 deal with Qatar Airways – sources

PARIS, Aug 3 (Reuters) – Airbus (AIR.PA) has revoked its entire outstanding order with Qatar Airways for A350 jets, halting all new jetliner business with the Gulf carrier in a new dramatic turn to a dispute clouding World Cup preparations, two industry sources have said. No comment was immediately available from Airbus or Qatar Airways. … Read more

BP increases its dividend after its profit hits its highest level in 14 years

BP increases its dividend after its profit hits its highest level in 14 years

Profits soar to $8.45 billion, far beating forecasts BP increases its dividend by 10% BP to increase oil and gas spending, CEO says Profits driven by strong oil trade, impacted by LNG LONDON, Aug 2 (Reuters) – BP’s (BP.L) second-quarter profit soared to $8.45 billion, its highest level in 14 years, as strong refining and … Read more

HSBC hangs up on Ping An break call, lifts payment and profit target

HSBC hangs up on Ping An break call, lifts payment and profit target

HSBC will return to paying quarterly dividends from 2023 Aims to attract investors with a higher profitability target Splitting up Asian companies carries huge risks London shares rise 6% LONDON/SINGAPORE, Aug 1 (Reuters) – HSBC (HSBA.L) has rejected major shareholder Ping An Insurance Group Co of China’s (601318.SS) proposal to split the lender, a move … Read more

‘Living with COVID’: where the pandemic could go next

‘Living with COVID’: where the pandemic could go next

LONDON/CHICAGO, Aug 1 (Reuters) – As the third winter of the coronavirus pandemic looms in the northern hemisphere, scientists are warning weary governments and populations to prepare for more waves of COVID-19. In the United States alone, there could be up to a million infections a day this winter, Chris Murray, director of the Institute … Read more

Oil drops as weak demand from Chinese factory data fans worry

Oil drops as weak demand from Chinese factory data fans worry

SINGAPORE, Aug 1 (Reuters) – Oil prices tumbled on Monday as weak manufacturing data from China and Japan for July weighed on demand prospects as investors braced for this week’s meeting. officials from OPEC and other major producers on supply adjustments. Brent crude futures were down $1.19, or 1.1%, at $102.78 a barrel at 0212 … Read more

Oil up more than $2 a barrel as hopes of increased OPEC+ supply fade

Oil up more than  a barrel as hopes of increased OPEC+ supply fade

Oil pump cylinders are seen at the Vaca Muerta shale oil and gas field in the Patagonian province of Neuquen, Argentina January 21, 2019. REUTERS/Agustin Marcarian/File Photo Join now for FREE unlimited access to Reuters.com Register U.S. drillers add oil rigs for record 23rd consecutive month – Baker Hughes. Brent high since July 5 above … Read more