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Tag Archives: U.S. crude

Boone Pickens sees oil rising, bets on Bush for White House

LAS VEGAS – Billionaire investor T. Boone Pickens, who cemented his fortune with bets on oil companies, said the price of oil would likely hit $75 dollars a barrel by yearend as demand revives. The octogenarian corporate-raider-turned-hedge-fund-investor also mused about politics, saying he has put his money on former Florida Governor Jeb Bush. He complained about gridlock in Washington and ...

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Brent inches towards $67, despite weak China factory activity

china

SINGAPORE – Brent crude edged towards $67 a barrel on Monday, reversing earlier losses after weak Chinese data reinforced views that stimulus measures would be rolled out for the world’s second largest economy. China, the world’s second-largest oil consumer, posted its biggest drop in factory activity in a year to 48.9 in April, a private business survey showed on Monday. ...

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Shares edge up on earnings; U.S. Treasuries dip

Stocks in major markets edged higher on Wednesday as the latest batch of U.S. corporate earnings held equities in check, while U.S. Treasury prices declined after home sales data added to anticipation of a rate hike by the U.S. Federal Reserve later this year. Wall Street was modestly higher in choppy trading as quarterly earnings continued the early trend of ...

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Oil prices ease as U.S. stockpiles seen rising

SINGAPORE – Oil prices eased on Tuesday on expectations of another rise in U.S. stockpiles and as Saudi Arabia keeps output near record highs, but prices remained near a 2015-peak reached last week. Crude prices have climbed around 18 percent since the start of April on speculation about falling U.S. output after the domestic oil rig count hit 2010 lows. ...

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Oil pares early gains as supply glut continues to weigh

NEW YORK – Crude futures edged up but relinquished early gains and briefly turned lower in choppy trading on Monday as a global supply glut continues to cap gains and traders took profits after oil’s earlier push higher. Prices rose initially on concerns about turmoil in Yemen, expectations for no quick return to the market of Iranian barrels if a deal ...

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