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Oil tops $60 for first time in 2015; oversupply persists

Oil tops $60 for first time in 2015; oversupply persists

(Reuters) - Oil hit its highest level for the year on Friday with Brent crude rising above $60 a barrel, as euro zone economic growth exceeded expectations and market bulls priced in another drop in the U.S. oil rig count. The rise in prices was also fueled by bets that cuts in...

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Oil steadies after weak Chinese trade data

Oil steadies after weak Chinese trade data

 Oil prices steadied on Monday as falling U.S. oil rig counts and conflict in producer Libya were balanced by a slump in Chinese imports, pointing to lower fuel demand in the world biggest energy consumer. "Weak China trade data are likely to weigh on industrial commodity...

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Oil rally holds, promising second weekly gain

Oil rally holds, promising second weekly gain

(Reuters) - Brent crude oil traded almost $2 higher on Friday, on track for its second weekly increase, as fighting in Libya and stronger economic signals from the United States helped futures rebound from near-six-year lows. Prices remain roughly 50 percent below their peak...

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Iran sweetens oil contracts to counter sanctions and price plunge

Iran sweetens oil contracts to counter sanctions and price plunge

(Reuters) - Iran is sweetening the terms it offers on oil development contracts to draw the interest of foreign investors deterred by sanctions and low crude prices, as its pragmatic president seeks to deliver on his promise of economic recovery. Tehran is engaged in...

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Oil up 11 percent after two-day rally; trade volatile on stock builds

Oil up 11 percent after two-day rally; trade volatile on stock builds

(Reuters) - Oil prices rose strongly again on Monday, tacking on a total of 11 percent over two straight sessions, as some investors bet that a bottom had formed to the seven-month long rout on the market even as others remained pessimistic. Benchmark Brent and U.S. oil...

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Wall St. rallies late on Greek deal hopes; energy gains

Wall St. rallies late on Greek deal hopes; energy gains

(Reuters) - Stocks ended sharply higher on Monday after a late rally driven by hopes for a Greek debt deal and as energy shares bounced with oil prices. Greece's new government has proposed ending a standoff with its international creditors by swapping its outstanding debt for...

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Syria raises fuel prices to snuff out black market, soothe unrest

Syria raises fuel prices to snuff out black market, soothe unrest

(Reuters) -  Syria  has raised fuel prices, cutting back on lavish subsidies, to quell a thriving black market that has led to anti-corruption protests in areas of strong government support. Worsening fuel and electricity shortages have sparked sometimes violent protests...

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Damascus' rent rise hits an all time high

Damascus' rent rise hits an all time high

Translation by Yusra Ahmed (EQTSAD)- Costs of houses' leasing have madly jumped up in Syria generally and Damascus city particularly. The phenomenon has nothing to do with the principles of “offer and demand”, simply it is kind of “war trade”,...

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Oil prices edge up on technical price momentum

Oil prices edge up on technical price momentum

(Reuters) - Oil prices edged up in early Asian trading on Friday benefiting from positive technical price momentum, but analysts said it was too early for a trend reversal of steep recent price falls as structural oversupply remains in place. While the fundamental outlook for oil...

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Asia shares wobble as Swiss move heightens volatility

Asia shares wobble as Swiss move heightens volatility

(Reuters) - Asian shares stepped back on Friday and major currencies  mostly stuck to late U.S. levels as investors caught their breath, after Switzerland's unexpected move to abandon its currency cap jolted markets already roiled by plungingcommodities prices. The euro...

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ISIL oil income is lowest in last 6 months

ISIL oil income is lowest in last 6 months

Oil income of the Islamic State in Iraq and the Levant is at its lowest in the past six months due to the U.S-led international coalition’s airstrikes, Iraqi parliament members have said Tuesday. “ ISIL will be in a bad financial situation as its current...

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Roche to buy majority stake in Foundation for up to $1.18 billion

Roche to buy majority stake in Foundation for up to $1.18 billion

(Reuters) - Roche Holding will acquire a majority stake in molecular and genomic analysis firm Foundation Medicine Inc for up to $1.18 billion, it said on Monday, in a move to bolster the Swiss drugmaker's personalized cancer treatments. This targeted approach to treating...

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Turkey more than doubles exports in last decade

Turkey more than doubles exports in last decade

 Turkey’s automotive, ready–made garments and chemicals sectors lead the way in overall exports last decade which hit the $1.2 trillion mark, data from the Turkish Exporters Assembly shows. Growing significantly each year between 2005-2014 save for the 2009...

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Syrian wheat captured by Kurdish fighters equals 6 billions s.p: regime official

Syrian wheat captured by Kurdish fighters equals 6 billions s.p: regime official

Reporting by Mohamed Al Hussein; Translation by Yusra Ahmed HASAKA- (Zaman Al Wasl) A well-informed source revealed to Zaman al-Wasl that prices of grain the Democratic Union Party PYD” had captured from the regime’s stores reached to 6 Billion...

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Russian government unable to support the ruble

Russian government unable to support the ruble

 Despite its promises, the Russian government has been unable to support the value of the ruble.    After losing 6 percent on the dollar on Monday, the currency on Tuesday fell steadily to a value of 63.45 to the dollar and 75.52 to the euro...

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Brent holds below $53 as oil falls to new five-and-a-half-year low

Brent holds below $53 as oil falls to new five-and-a-half-year low

(Reuters) - Oil prices sank to fresh 5-1/2-year lows on Tuesday, extending losses after a 5 percent plunge in the previous session as worries over a global supply glut intensified. Brent crude held below $53 a barrel as monthly oil selling price cuts for European buyers...

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Turkey consumes second-cheapest gas in Europe

Turkey consumes second-cheapest gas in Europe

Turkey had the second-cheapest natural gas in Europe during the first half of 2014, according to European data. The gas price per kilowatt hour in Turkey was €0.033 ($0.039) for households, and €0.024 ($0.029) for industry in the...

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Expert highlights Syrian gas exploration deal with Russia

Expert highlights Syrian gas exploration deal with Russia

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