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Tag Archives: brent crude

Saudi Aramco expects oil prices to rise by end of 2016

RIYADH, Saudi Arabia — Saudi Arabia’s state-owned oil giant expects oil prices will climb toward the end the year, saying the current price of around $30 a barrel is not sustainable. Saudi Aramco’s CEO Amin Nasser, speaking Tuesday at an investment conference in the kingdom, says there are indications that demand for oil picked up last year and that the ...

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Oil lifts shares and bond yields

People walk through the lobby of the London Stock Exchange in London, Britain November 30, 2015. REUTERS/Suzanne Plunkett

NEW YORK – Stocks rose around the world and bond yields edged up on Tuesday as oil rebounded from 11-year lows on prospects for lower temperatures on both sides of the Atlantic. The fall in oil prices has been a major driver of financial markets this year, hammering energy companies, lowering inflation expectations and reinforcing bets on loose monetary policy ...

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Oil prices edge down as slowing demand adds to high output

SINGAPORE – Crude oil futures came under renewed pressure early on Tuesday as fears of slowing demand added to near-record global production levels, which have already slashed prices by two-thirds since the middle of last year. Front-month U.S. West Texas Intermediate (WTI) futures CLc1 were trading at $36.75 per barrel at 0105 GMT, down 6 cents from Monday’s close. The ...

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Inflation expectations in euro zone fall to lowest since October

Inflation expectations in euro zone fall to lowest since October

LONDON – A closely followed measure of long-term market euro zone inflation expectations fell to its lowest level since October on Wednesday, pushed down by this week’s sharp fall in oil prices to 11-year lows. The five-year, five-year breakeven forward <EUIL5YF5Y=R>, a measure of where markets expect 2025 euro zone inflation forecasts to be in 2020, fell to 1.6625 percent, ...

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Indexes set for higher open; Brent crude hits 11-year low

Indexes set for higher open; Brent crude hits 11-year low

U.S. stocks were set to open higher on Monday, the first day of a holiday-shortened week, while Brent crude hit an 11-year low. Trading volumes are expected to be relatively light this week, with U.S. stock markets operating a shortened session on Thursday and closing on Friday for Christmas. Crude oil prices have been sliding under continued pressure from global ...

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U.S. oil price gap vanishing for first time in shale era

U.S. oil price gap vanishing for first time in shale era

HOUSTON – The once-deep discount for benchmark U.S. crude oil prices versus global rates is about to disappear for the first time since the rise of the shale oil boom, a sudden reversal that highlights the market’s ongoing flux. On Monday, U.S. West Texas Intermediate for delivery in March was trading just 20 cents below global Brent crude for the ...

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Oil futures slip further after oversupply forecast

TOKYO – Crude oil futures slipped in early Asian trade, adding to a slump on Friday following a forecast from the International Energy Agency (IEA) that the global glut of oil is likely to deepen next year. Brent crude, the global benchmark, fell below $38 a barrel for the first time since December 2008 on Friday after the IEA said ...

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Plunging oil prices drag down Wall Street

Wall Street was lower at the open on Monday as Brent crude prices fell to their lowest in nearly seven years after OPEC’s meeting ended last week without a reference to its output ceiling. Brent crude prices <LCOc1> fell to $38.80, while a stronger dollar made it more expensive to hold crude positions. The dollar <.DXY> rose for a second ...

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