Energy Update
BRASILIA, Oct 14 (Reuters) - Brazilian Finance Minister
Henrique Meirelles said on Friday that the decision by the
state-run oil company Petrobras earlier in the day
to cut fuel prices would have a positive effect on reducing
inflation.
Oct 14 (Reuters) - The number of rigs drilling for oil in
the United States rose again this week, extending one of its
best recoveries with no cuts for 16 straight weeks, with
analysts expecting more additions as crude prices hold over $50
a barrel.
Drillers added 4 oil rigs in the week to Oct. 14, bringing
the count up to 432, the most since February, but still below
595 rigs a year ago, according to energy services firm Baker
Oct 14 (Reuters) - Citigroup Inc, the fourth-biggest
U.S. bank by assets, beat expectations for third-quarter net
profit on Friday after trading revenue surged 35 percent.
LONDON, Oct 14 (Reuters) - A British court has ruled in
favour of Goldman Sachs in a $1.2 billion dispute with Libya's
$67 billion sovereign wealth fund over nine disputed trades, a
spokesman for Goldman Sachs said on Friday.
LONDON, Oct 14 (Reuters) - A UK court has ruled in favour of
Goldman Sachs in a $1.2 billion dispute with Libya's $67 billion
sovereign wealth fund over nine disputed trades, a spokeman for
Goldman Sachs said on Friday.
Oct 14 (Reuters) - Freeport-McMoRan Inc, the world's
biggest publicly listed copper miner, said it would sell its
onshore California oil and gas assets to Sentinel Peak Resources
California LLC for up to $742 million, as part of its strategy
to cut debt.
LONDON, Oct 14 (Reuters) - U.S. natural gas prices have
surged to the highest level for more than 18 months as stocks
continue to build more slowly than normal despite the warm
weather.
Oct 14 (Reuters) - Citigroup Inc, the fourth-biggest
U.S. bank by assets, reported a 10.5 percent fall in quarterly
profit on Friday, hurt by lower revenue from equity trading.
Oct 14 (Reuters) - JPMorgan Chase & Co beat
forecasts for revenues and profits on Friday as global bond and
currency markets roared back to life in the third quarter
following Britain's vote to leave the European Union.
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