World Bulletin / News Desk
Asian energy firms retreated Tuesday after a plunge in oil prices, while the pound's troubles mounted on worries about Britain's plans to leave the European Union.
The deal sent the cost of a barrel surging last month towards $60 on hopes the cuts could reduce a global glut that had sent prices to near 13-year lows last February.
However, Iraq’s oil minister said exports from its southern ports reached a record high in December, leading to suspicion it will not stick to the cuts, which came into effect on January 1.
"The Iraqi headlines have raised concerns about compliance," John Kilduff, a partner at New York-based hedge fund Again Capital LLC, told Bloomberg News.
"We need to see compliance outside of Saudi Arabia, Kuwait and the other Gulf states."
While both contracts edged up Tuesday, regional energy firms fell although they pared early losses. Sydney-listed Woodside Petroleum lost 0.1 percent and BHP Billiton was down 0.4 percent.
Inpex lost 1.5 percent in Tokyo and CNOOC was down 1.3 percent in Hong Kong. PetroChina was flat.
Monthly index sees decline of 3.4 pct, according to Turkish Statistical Institute
BIST 100 index decreases 0.31 pct while US dollar/Turkish lira rate rose to 3.51
Frankfurt equities sagged despite a rally for shares in German heavy industry giant ThyssenKrupp, which announced a deal with Indian group Tata to merge their steel operations in Europe.
BIST 100 index drops 0.02 pct while US dollar/Turkish lira rate stands over 3.48
The move was seen as a bid to weather US-imposed sanctions on the embattled country.
Regulators decided in May to fine Banco Popolare di Vicenza a total of 11.2 million euros ($13.4 million), the ECB said in a press release.
BIST 100 index rises slightly 0.09 pct while US dollar/Turkish lira rate falls to 3.43
BIST 100 index rises 0.10 pct while US dollar/Turkish lira rate stands around 3.46
Borsa Istanbul's BIST 100 index goes down 0.89 pct at close, USD/TRY rate stands around at 3.44
The International Energy Agency also said production by the OPEC cartel and its allies fell in August and compliance with their pact to cut supply to the markets increased.
BIST 100 index rises 0.11 pct while US dollar/Turkish lira rate stands around 3.40
Loan to be used to increase domestic savings, enhance economic participation, ensure sustainable growth, says Treasury