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US steel scrap, sheet markets eye possible near-term price bumps

The US steel scrap market has recently seen low prices, and sheet market has had a months-long steady decline. Which factors will raise prices?

Big U.S. shale field Marcellus faces output drop due to low gas prices

May 28 (Reuters) - Natural gas production in the Marcellus shale, which has grown over the past decade from next to nothing to the source of about a fifth of U.S.

UPDATE 2-Russia's Gazprom says Ukraine's total gas debt is $29.5 bln

* Gazprom concerned over level of gas in Ukraine's storages (Adds Naftogaz comments)

Alberta wildfires burn for 6th day, 10 pct of oil sands crude offline

CALGARY, Alberta, May 28 (Reuters) - Firefighters battled wildfires in northern Alberta, Canada's biggest crude-producing region, for a sixth day on Thursday, with two blazes near oil sands facilities still out of control.

UPDATE 1-Judge orders Alpha to pay legal defense for Massey's ex-CEO

May 28 (Reuters) - Alpha Natural Resources Inc must pay for the legal defense of Donald Blankenship, who is facing a criminal trial over a coal mining disaster in 2010, when he headed Alpha's Massey Energy Co business, a Delaware judge ruled on Thursday.

Historic red Pegasus flies again in Dallas, complete with oil rig

DALLAS, May 28 (Reuters) - A 1934 red neon Pegasus, a familiar emblem of Mobil Oil, has been lit up once again in Dallas, restoring a symbol of a city known for its close association with the oil business that had been locked away for a decade and a half.

Libya on verge of economic collapse, U.N. envoy warns

BRUSSELS, May 28 (Reuters) - Libya is on the verge of economic collapse as rival factions haggle over a political settlement, the United Nations special envoy said on Thursday.

UPDATE 1-India's ONGC sees new subsidy rules boosting first-quarter profit

* Q4 net profit 39.35 bln rupees vs 54.91 bln rupees estimate

COLUMN-Maritime disputes test China's peaceful rise: Kemp

LONDON, May 28 (Reuters) - The South China Sea has become the most important testing ground for the changing economic, political and military relationship between China and the United States.

UPDATE 1-Saudi Aramco may raise rigs in 2016 if oil prices rise -sources

KHOBAR, Saudi Arabia, May 28 (Reuters) - Saudi Aramco may raise the number of its oil and gas drilling rigs to as high as 250 next year if oil prices continue to firm and as domestic demand for gas increases, industry sources said on Thursday.

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