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Tag Archives: global oil market

Oil price rise helps shore up global markets

LONDON (AP) — A bounce-back in oil prices helped European stock markets to recover their poise Thursday following an earlier retreat when concerns over the state of U.S. consumer spending weighed on shares. KEEPING SCORE: In Europe, France’s CAC 40 was up 0.9 percent to 4,355 while Germany’s DAX rose 0.9 percent to 10,067. The FTSE 100 index of leading ...

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Oil industry exec: US crude exports help keep prices low

WASHINGTON — The oil industry’s top lobbyist says a new law allowing U.S. crude exports helps explain why oil prices have not spiked despite heightened tensions between two of the world’s big oil-producing countries, Iran and Saudi Arabia. The president and chief executive of the American Petroleum Institute, Jack Gerard, says the 3-week-old law lifting a 40-year ban on crude ...

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Cheaper prices spur U.S. gasoline demand: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Strong growth in demand for refined fuels such as gasoline and diesel is helping to rebalance the global oil market, according to most observers. “Recent oil market strength … stems partly from unexpectedly strong oil demand growth,” the International Energy Agency explained in its June ...

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Who wants to be a swing producer? No one: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – U.S. shale producers are the new “swing producers” in the oil market, as many analysts have noted, but the status of swing producer is hugely misunderstood. It is often portrayed as if it confers power and control. In fact, it often means the opposite. The ...

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US stocks ease for a second day; price of crude oil soars

NEW YORK — U.S. stocks are closing modestly lower, continuing a downward trajectory from the day before. The Dow Jones industrial average fell 77 points, or 0.4 percent, to 17,698 Wednesday. The Dow slumped 200 points on Tuesday. The Standard & Poor’s 500 index lost eight points, or 0.4 percent, to 2,059. The Nasdaq composite declined 20 points, also 0.4 ...

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