Energy Update
ANKARA, Feb 24 (Reuters) - Turkey accused Libya on Tuesday of targeting its companies there after the internationally recognised government said it would cancel contracts of Turkish businesses operating in the troubled north African state.
LONDON, Feb 24 (Reuters) - British power producer Drax reported a rise in 2014 pretax profit on Tuesday as it made more money from selling electricity, but warned of a challenging year ahead due to an expected fall in profits from burning biomass in power plants.
Spot seaborne iron ore prices were unchanged February 23 amid thin trading as Chinese buyers were away for Lunar New Year holiday. Some sources see little chance for a sustained recovery after the festival given weak steel prices and an ongoing supply glut.
Feb 24 (Reuters) - Southeast Asian stock markets traded stronger on Tuesday, although gains were capped as investors looked to Federal Reserve Chair Janet Yellen's statement later in the day for signs of when the U.S. central bank would raise interest rates. The Thai SET index was up 0.5 percent by midday, led by a 1.8 percent gain in the country's top oil firm, PTT . Indonesia and Philippines hovered near their record highs. Yellen will deliver the central bank's semi-annual Monetary P
Huge inventory losses due to the oil price plunge in 2014 prompt Japanese refiners to switch away from Middle East crude imports in favor of spot barrels from Russia and Mexico.
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