Aid Talks Stall

Oil fell more than $1 on Wednesday, with the U.S. benchmark dropping to a more than 6-month low, as a larger-than-expected rise in crude stocks in the United States and fears of Greece's exit from the euro zone muddied the outlook for demand growth. Investors are worried about the demand for oil as a prolonged political crisis in Greece may push Europe into a deeper financial mess at a time when China is slowing and the U.S. economy remains fragile. Yet, limited spare capacity and fears of a supply disruption have put a floor under prices. Brent crude slipped $1.39 to as low as $110.85 a barrel by 2:42 a.m. EDT, declining for four out of the past five sessions. U.S. oil fell $1.68 a barrel to $92.30 after earlier slipping to $92.13, the lowest since November 3. "A further $2-$3 fall is ...

(Reuters) - Oil plunged more than 3 percent on Friday, with U.S. crude below $100 a barrel for the first time since February, as an abrupt slow-down in U.S. hiring soured economic sentiment weighed and technical triggers intensified selling. Brent's nearly $4-a-barrel slide took three-day losses to more than 6 percent, the deepest sell-off since August, rattling traders who had been lulled by low volatility this year. While a downbeat U.S. jobs report weighed, traders said a combination of less definitive factors -- from confusion over margin changes to the breach of Brent's 200-day moving average -- had compounded selling, reminding some dealers of the abrupt $10 collapse in prices on May 5 last year. "We have broken through key technical levels here after a disappointing employment ...

(Reuters) - Oil fell to three-month lows of under $115 per barrel on Friday and was on course for its steepest weekly fall since December after a weak U.S. jobs report added to doubts about the pace of economic recovery in the world's biggest oil consumer. U.S. employers hired 115,000 workers last month, the Labor Department said on Friday, which was below the 170,000 new jobs forecast and led to concerns that demand growth could stall. By 1241 GMT, Brent crude oil futures lost $1.48 to $114.60 a barrel, lows not seen since early February this year. U.S. crude fell by $1.87 to $100.67, levels not seen since mid-April. "The poorer U.S. economic data from the past two days have sparked doubts that oil demand will recover in the US, the world's largest consumer of oil," Commerzbank oil ...

(Reuters) - Oil prices were little changed on Friday in very light, tug-of-war trading, as concerns about economic growth were countered by hopes for additional easing by the Federal Reserve to boost a sputtering recovery. Brent edged lower and crude rallied late to settle, reducing Brent's premium to its U.S. counterpart, while both contracts posted second consecutive weekly gains. Prices felt pressure early, after ratings agency S&P downgraded Spain's credit rating. But oil pared losses ahead of U.S. GDP figures that showed growth cooled in the first quarter. But some investors believe slowing U.S. growth may prompt the Federal Reserve to launch a third round of government bond buying, or quantitative easing, known on Wall Street as QE3. "Bad news for the economy is being interpreted ...

(Reuters) - Crude oil futures rose on Thursday as a solid pickup in U.S. home sales added to economic optimism following the U.S. Federal Reserve's vow a day earlier that it would take further stimulus action if needed to keep the recovery going. In volatile trade, oil gave up early gains after a weak report on jobless claims, then rebounded to session highs on the housing data. Oil advanced with a broad rise in key commodities, such as copper, reflected in a 0.40 percent gain in the Thomson Reuters-Jefferies CRB index .CRB. Overall, oil's gains were limited as data showed economic sentiment in the euro zone fell more than expected in April. As was the case on Wednesday, the oil markets received support from stronger equities and, to some extent, a weakened dollar, which improved ...

(Reuters) - Crude oil futures rose on Thursday, extending gains from the previous session on optimism related to the U.S. Federal Reserve's vow to quickly move should the economy weaken and on a solid pickup in the U.S. home sales in March. Oil's initial gains were slashed after a weak report on jobless claims, but rebounded to session highs on the upbeat housing data. As was the case on Wednesday, the oil markets received support from stronger equities and, to some extent, a weakened dollar, which improved investors' risk appetite. .N "(Fed Chairman Ben) Bernanke's comments are good for oil: people think that if growth derails in the U.S. the Fed is ready to step in with further Quantitative Easing (QE), which gives very strong support to commodities", Danske Bank's chief FX and ...

Sunrise Market Commentary - Fixed Income: Small changes after volatile trading - Core bonds traded volatile due to economic data and bond auctions. The Fed had the final saying. The FOMC statement showed that the Fed was slightly more optimistic on growth and the governors more hawkish in their rate forecasts. However, policy remains unchanged and Bernanke kept the door for more QE open. - Currencies: Fed doesn't help the dollar - On Wednesday, trading in most major currency cross rates was confined to recent ranges. EUR/USD is holding near the recent highs. The Fed kept a soft tone and this was a slightly negative for the dollar. Sterling lost temporary ground as Q1 GDP data showed that the UK has slipped back into recession. However, the EUR/GBP 0.8222 resistance did its job. ...

Crude oil futures rose in choppy trading on Wednesday, getting a lift from U.S. equities despite pressure from a larger-than-expected increase in U.S. crude inventories and a report that Iran may consider a halt to its nuclear program. Prices moved little after the U.S. Federal Reserve, as expected, said at the end of a two-day policy meeting that it will keep interest rates exceptionally low at least through late 2014. "Oil got support from equities, which are on a rally mode and as support developed after the day's lows around $103 was not violated," said Hamza Khan, analyst at the Schork Group in Villanova, Pennsylvania. The central bank said the U.S. economy had been expanding moderately and that the labor market had improved in recent months. It noted, however, that while the ...

Asian shares fell and U.S. stock futures pointed lower on Monday in holiday-thinned trade after a sharp slowdown in U.S. jobs growth raised concerns about the strength of the world's largest economy. Oil, which has climbed nearly $20 this year on worries that a standoff between Tehran and the West would escalate and disrupt oil exports from the Middle East, dropped more than a dollar after Tehran agreed to resume talks on its nuclear program. Brent crude was down $1.19 a barrel to $122.24 by 1110 GMT after slipping below $122 earlier in the day. U.S. oil traded $1.46 a barrel lower at $101.85. "The talks are good news. They are going to ease some stress from the oil market but not enough to bring oil below its current trading range," said Ken Hasegawa, a commodity derivatives manager at ...