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Tag Archives: U.S. crude

Oil hit multi-month lows on record OPEC output

SINGAPORE – Oil extended losses on Monday on worries of oversupply as the Organization of the Petroleum Exporting Countries pumped at record levels in July, while weak China data stoked concerns about slower growth at the world’s second largest oil consumer. Saudi Arabia and other key members of OPEC show no sign of wavering in their focus on defending market ...

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Top 5 Bakken stories of the week

In case you missed them, here are the top five stories from Bakken.com for the week of July 25th through July 31st. Enjoy! 5. ND oil patch county cracks down on new crew camps WILLISTON, N.D. — The Williams County Commission has adopted new rules that are intended to phase out temporary housing, including crew camps, RV and trailer parks ...

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Hedge funds turn unusually bearish on oil: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Hedge funds and other money managers have rarely been so bearish about the outlook for oil prices, according to the latest positioning data from the U.S. Commodity Futures Trading Commission. Hedge funds boosted short positions in futures and options linked to the price of U.S. ...

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Oil prices around $60 as demand balances glut

LONDON – Crude oil prices steadied on Thursday as strong demand for oil products helped to balance a global overhang of crude oil for immediate delivery. North Sea Brent crude oil traded within a fairly narrow range as investors eyed a weak physical crude market in the Atlantic basin amid reports of stronger demand for gasoline and diesel in the ...

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Oil rises to $66 on U.S. inventory drop, Iraq

LONDON – Oil rose for a second day on Thursday and briefly reached $66 a barrel, supported by expectations that a global supply glut is starting to ease and by fighting in Iraq. The U.S. government’s supply report on Wednesday showed crude inventories declined for a third week. Stockpiles had been at record levels due to excess supply, raising concern ...

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Top U.S. hedge funds adjust energy bets on sliding oil prices

NEW YORK – Top U.S. hedge fund managers made contrasting bets on energy companies in the first quarter, with Greenlight Capital’s David Einhorn sticking with names pummeled by falling oil prices, while Hayman Capital’s Kyle Bass bet on frackers, regulatory filings showed on Friday. Einhorn’s $11 billion Greenlight Capital increased its stake in Consol Energy Inc by 7.3 million shares ...

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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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