UPDATE 5-Oil recoups ground on talk producers could tackle glut Iran's oil minister said Tehran was ready to negotiate with Saudi Arabia and Kremlin oil tsar Igor Sechin proposed producing countries cut output by 1 million barrels per day- without saying whether non- OPEC member Russia would do so. While traders and delegates from OPEC doubt any deal between the group and rival producers- which would be the first in over a...
| By: Alex Lawler and Amanda Cooper
UPDATE 3-Oil rises towards $31 as Russia floats idea of supply cut *Iran says open to cooperation with Saudi Arabia. LONDON, Feb 10- Oil rose towards $31 a barrel on Wednesday after four days of declines, supported by the prospect of OPEC and rival producers cooperating to tackle a supply glut that has sent prices to a 12- year low. Iran's oil minister said Tehran was ready to negotiate with Saudi Arabia and the Kremlin's oil tsar...
| By: Alex Lawler
Oil rebounds from sharp selloff, volatility expected Crude oil prices pushed higher on Wednesday after Iran said it was open to cooperation with Saudi Arabia, partly recovering from an 8 percent fall in the previous session led by concerns over demand and weak equities.
NYMEX-Crude oil rebounds after steep selloff *U.S. crude for March delivery was 47 cents higher at $28.41 a barrel by 0113 GMT. *The front-month Brent contract was 50 cents higher at $30.82 a barrel, after it had closed $2.56, or 7.8 percent, down on Tuesday. *Meanwhile, the International Energy Agency predicted the world will store unwanted oil for most of 2016 as declines in U.S. output take time and that OPEC is...
Nikkei extends losses to close down 2.3% Monkeys threw a wrench into Asian markets in the Lunar New Year's first week of trading, with sell-offs in Japan, Singapore and Down Under on Wednesday.
| By: Saheli Roy Choudhury
Does your mutual fund invest in stocks of gun and ammo makers? WASHINGTON, Feb 5- More than 500 mutual funds have stock holdings worth more than $1.5 billion in three gun manufacturers: Vista Outdoors, Sturm Ruger and Smith& Wesson. Find out if you are invested in guns and ammo with this list. Fund Vista Sturm Smith& Total Outdoors Ruger Wesson investment.
UPDATE 6-Oil rises after Russia says open to OPEC meeting LONDON, Feb 3- Oil rose on Wednesday, paring earlier losses after fresh comments from Russia about its openness to talk with OPEC over output cuts helped revive hope among investors that the world's largest producers could act to boost prices. Russian Foreign Minister Sergei Lavrov said if there is consensus among the Organization of the Petroleum Exporting...
| By: Amanda Cooper
UPDATE 1-Oil futures drop for 3rd session on rising crude stocks, oversupply SINGAPORE, Feb 3- Oil futures extended losses into a third session in Asian trade on Wednesday, as U.S. crude stocks last week surged to more than half a billion barrels and as Iran plans to boost exports from March. Brent for April delivery had dropped 25 cents to $32.47 a barrel as of 0204 GMT, after settling down $1.52, or 4.4 percent. Prices are going to zig-zag for a...
| By: Keith Wallis