Oil ticks up on supply cuts, but rising US output caps gains
SINGAPORE Oil prices edged higher on Monday, with Brent oil set to rise for five out of seven sessions as a global supply glut appears to ease, but rising U.S. production limited gains.
ATHENS Greek lawmakers gave on Wednesday initial approval for an austerity law cutting wages and hiking taxes, crucial for the country to receive a next batch of bailout funds and avoid bankruptcy.
All 154 of the ruling Socialist PASOK party's deputies voted in favour of the law, despite violent anti-austerity protests outside parliament earlier in the day. The bill must be approved by article on Thursday to become law.
(Reporting by Harry Papachristou)
London Stock Exchange said its proposed merger with Deutsche Boerse AG was unlikely to be approved by the European Commission, leaving the stock market operators' third attempt at combining on the brink of failure.
NEW YORK Passive investment funds are poised to shift an estimated $2 billion from far-term to near-term crude futures over the next week, anticipating an energy market rally as a historic OPEC output cut slashes supply.