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Tag Archives: Oil price

US stocks open higher as oil rebounds, banks rise

U.S. stocks opened higher, seeking their first gain this week, as beaten-down energy and financial companies rebounded. Banks rose Friday after Deutsche Bank offered to buy more than $5 billion in bonds. Its shares were up 9 percent. JP Morgan Chase was up 5 percent. Oil jumped 6 percent, helping to lift energy company shares. Drilling company Transocean was up ...

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Stocks fall sharply, oil drops back below $30

trader on stock floor.

Steep losses in financial, technology and other companies sent U.S. stocks sharply lower in afternoon trading Monday, pulling the Dow Jones industrial average down 400 points. The decline followed drops in Europe and set the market on course for its second big loss in a row. Crude oil prices slumped again. KEEPING SCORE: The Dow Jones industrial average fell 396 ...

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North Dakota “Great Recession” real estate crisis?

real estate crisis indicated by unfinished apartment

The North Dakota Office of State Tax Commissioner recently reported a $63 million shortfall in anticipated sales tax collections in December of 2015. Sales tax collections have declined by over 50 percent in some oil patch cities. Even with a massive state investment program and projects that were financed prior to the recent decline in oil prices, sales tax revenues still collapsed. Plunging sales ...

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Cheaper oil buoys consumers, hammers producers

DALLAS — Oil prices have been lower for longer than expected. Now, with OPEC’s decision to keep pumping at current levels, analysts expect oil to remain relatively cheap well into 2016 and maybe longer. That, of course, is good news for consumers and fuel-guzzling industries like airlines, but oil producers are being squeezed and thousands of workers in the oil ...

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Oil down on large U.S. crude stockpile build

LONDON (Reuters) – Oil prices slipped on Wednesday after an unexpectedly big build in U.S. crude inventories, further evidence of an oversupply that has helped halve global spot prices over the last year. U.S. crude oil stockpiles rose by 4.6 million barrels in the week to Sept. 25, the American Petroleum Institute (API) said, well above a modest increase of ...

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Comerica economist Robert Dye: Fed will raise interest rates slowly

APTOS — Comerica economist Robert Dye expects the Federal Reserve will decide Thursday to start raising interest rates from their historic low, but “the first step in that climb will be very, very small,” he told more than 100 people Wednesday at the Seascape Golf Clubhouse. “Stanley Fischer has been using the word ‘crawl,'” said Dye, referring to the Fed’s ...

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