Skip to content
Asian shares neared a 20-month top on Monday as Wall Street extended its run of record peaks on solid U.S. economic data and lashes of liquidity from the Federal Reserve. Oil prices jumped as oilfields in southwest Libya began shutting down after forces loyal to Khalifa Haftar closed a pipeline, potentially reducing national output to a fraction of its normal level. Early turnover in Asian shares was light with U.S. stock and bond markets closed for the Martin Luther King Jr. holiday....
(Bloomberg) -- Oil jumped as rising tension in the Middle East and North Africa halted output and exports from key OPEC producers Iraq and Libya.Futures in New York and London rose more than 1.5%. Iraq temporarily stopped output at an oil field on Sunday and supply from a second site is at risk as widespread unrest escalates in OPEC’s second-biggest producer. In Libya, National Oil Corp. declared force majeure after Commander Khalifa Haftar blocked exports at ports under his control.While political unrest has simmered in Libya as competing forces tussle for control of the country, the spotlight is back on Iraq after tension earlier this month between Iran and the U.S. led to speculation the conflict may spillover and entangle the OPEC producer. Iraqi supplies are “potentially vulnerable” amid rising political risks in the country and the broader region, the International Energy Agency said last week.West Texas Intermediate for February delivery...
(Bloomberg) -- Stocks in Asia saw a modest rise at the open Monday, building on seven straight weeks of gains. Oil advanced amid turmoil in Libya and supply disruptions in Iraq.West Texas Intermediate crude jumped more than 1% after one of Libya’s commanders blocked oil exports at ports under his control and Iraq temporarily stopped work on an oil field. Stocks in Japan, South Korea and Australia edged higher. Currency trading was muted. On Friday, the S&P 500 Index and the Nasdaq Composite Index both set record highs. U.S. equity and bond markets are shut for the Martin Luther King Jr. holiday.Indicators of economic health from China and the U.S. last week provided some encouragement for investors looking for signs the global outlook is improving. Attention this week turns back to corporate earnings season.“We are entering 2020 on a more stable footing with economies globally stabilizing and looking like they’re turning...
Big oil has been living beyond its means for years according to a new report from the Institute for Energy Economics and Financial Analysis, with a shortfall of over $200 billion...
Jan.19 -- Katie Bays, co-founder of Washington-based consulting firm Sandhill Strategy LLC, discusses how the phase one trade deal will affect the U.S. energy industry. She speaks with Haidi Stroud-Watts and Shery Ahn on "Bloomberg Daybreak: Australia."...
Jan.19 -- Hong Kong’s government again pushed back on a key demand of protesters as a downtown rally turned violent, showing the unrest that began last June still has no end in sight. Stephen Engle reports on "Bloomberg Daybreak: Australia."...
(Bloomberg) -- Stocks in Asia were set for a muted open to trading Monday following seven straight weekly gains. Oil advanced amid turmoil in Libya.West Texas Intermediate crude jumped as much as 2% at the open after one of Libya’s commanders blocked oil exports at ports under his control. Stocks in Australia edged higher at the open and futures elsewhere were mixed. Currency trading was muted. On Friday, the S&P 500 Index and the Nasdaq Composite Index both set record highs. U.S. equity and bond markets are shut for the Martin Luther King Jr. holiday. Indicators of economic health from China and the U.S. last week provided some encouragement for investors looking for signs the global outlook is improving. Attention this week turns back to corporate earnings season.“We are entering 2020 on a more stable footing with economies globally stabilizing and looking like they’re turning up, and the phase one trade...
