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Tag Archives: brent futures

Oil rises after week of heavy losses

LONDON – Oil prices rose on Friday, snapping a week-long decline as investors closed positions at the end of a volatile week that saw prices slide nearly 10 percent on renewed signs a global supply glut was here to stay. Brent crude’s new front-month December contract <LCOc1> was up 60 cents at $50.33 a barrel at 1338 GMT. November Brent ...

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Weak economic outlook and oversupply weigh on oil markets

SINGAPORE – U.S. oil prices fell on Tuesday as the global economic outlook darkened further and cooperation between oil producing countries to curb oversupply looked unlikely, pulling U.S. crude prices down around three percent in early Asian trading. Japan’s economy shrank an annualized 1.2 percent in April-June, revised gross domestic product (GDP) data showed on Tuesday, despite ongoing government and ...

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Oil prices tumble: noise or fundamentals? Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Brent futures prices tumbled more than 6 percent on Monday, a highly unusual move that has raised questions about whether shifting fundamentals will send the market even lower over the coming months. Over the last month, front-month prices have dropped 17 percent, breaking out of ...

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Oil prices fall on oversupply, but U.S. crude supported by Gulf of Mexico storm

SINGAPORE – Oil prices extended declines on Monday after two straight days of losses late last week as high production offset strong refinery runs, but a storm that could impact Gulf of Mexico operations supported U.S. crude. Saudi Arabia, the world’s biggest crude oil exporter, hinted late last week that it was ready to increase production above record levels to ...

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NYMEX – U.S. crude oil prices dip on surprise North Dakota output jump

SINGAPORE – Oil prices fell on Thursday morning after major U.S. oil producing state North Dakota posted a surprising output hike and ongoing high stocks were expected to weigh on import and production demand. Despite a slight draw in overall stocks, government data showed that U.S. crude inventories of almost 485 million barrels were still nearly 90 million barrels higher ...

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