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Global trade of LNG hits record high

Global trade of LNG hits record high

Global trade of liquefied natural gas (LNG) reached record numbers in 2015, according to a new report. The International Group of LNG Importers said shipments of LNG grew by 2.5 percent to an all-time high of 245.2 million tons annually. Increased trade was driven by new liquefaction plants in Indonesia and Australia. The new facilities began exporting LNG to customers ...

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Japan reports biggest trade surplus in over 4 years

Japan reports biggest trade surplus in over 4 years

TOKYO (AP) — Japan posted its biggest trade surplus in over four years in February, thanks to a strengthening in the yen and weak oil prices, though both imports and exports fell, suggesting persisting slack demand both in Japan and overseas. Preliminary data reported Thursday showed exports fell 4 percent from a year earlier to 5.7 trillion yen ($50.5 billion) ...

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Gasoline price jumps by 7 cents over past 2 weeks

gas prices, gasoline

CAMARILLO, Calif. (AP) — The average price of gasoline has jumped by 7 cents over the past two weeks, to $1.84 a gallon. Industry analyst Trilby Lundberg said Sunday that despite the increase, the price is 70 cents per gallon cheaper than a year ago. Lundberg says the moderate price hike is due to growing demand for gasoline across the ...

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Oil supply seen outpacing demand, capping price

Oil supply seen outpacing demand, capping price

PARIS (AP) — The International Energy Agency says oil supply is set to outpace demand this year, keeping a lid on any expected price increases. The organization, which advises countries on energy policy, said in its monthly report Tuesday that global excess supply may reach 2 million barrels per day during the first quarter, and a further 1.5 million barrels ...

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Oil prices climb third-straight day

Oil prices climb third-straight day

NEW YORK — U.S. stocks rose Thursday as oil prices climbed for the third day in a row while key oil-producing nations discussed cuts in production. Tech and consumer stocks traded higher, led by Amazon and PayPal, while drugmakers fell. Facebook made its biggest leap in two and a half years after it said its profit more than doubled in the ...

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Delta posts $980 million 4Q profit on lower fuel prices

Delta posts $980 million 4Q profit on lower fuel prices

DALLAS — Cheaper jet fuel thanks to falling oil prices helped Delta Air Lines earn $980 million in the fourth quarter despite lower revenue than a year ago. Delta shares rose 3.3 percent Tuesday, recovering nearly one-fourth of their losses this month. Company officials said bookings for this spring are ahead of last year’s pace because lower gasoline and heating ...

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ConocoPhillips to cut spending due to falling oil prices

NEW YORK — ConocoPhillips said it plans to slash spending on projects by 25 percent next year as the energy company and its rivals deal with plunging oil prices. The Houston company said it expects to spend $7.7 billion in 2015, down from the $10.2 billion it expects to spend this year. The money is used for oil exploration, drilling ...

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As crude oil swells, volatility-hungry traders turn to refined products

LONDON – In a world overflowing with oil, traders are looking to once-secondary markets such as gasoline and diesel for profits, as limited supplies and rapidly changing demand offer the volatility they thrive on. In recent months, surprise shutdowns at relatively small refineries or extreme weather conditions have led to spikes in prices of gasoline and other products – allowing ...

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IEA sees oil below $80, what could go wrong? Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Oil prices are unlikely to rise consistently above $80 per barrel before the end of the decade, the International Energy Agency (IEA) predicted in the World Energy Outlook published on Tuesday. Slower growth in demand coupled with the transformational impact of shale on production costs ...

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