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Tag Archives: global oversupply

Oil rises on Middle East tensions, weaker U.S. dollar

LONDON – Oil prices rose three percent on Tuesday as tensions in the Middle East escalated following the downing of a Russian fighter jet near the Syrian-Turkish border, and a weaker dollar provided an incentive for investors to buy more oil. Brent futures for January were trading at a near two-week high of $46.23 a barrel at 1420 GMT, a ...

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Hedge fund short positions and oil prices in 2015: Kemp

(The opinions expressed here are those of the author, a columnist for Reuters.) LONDON – U.S. oil prices have cycled between $40 and $60 per barrel since the start of 2015 and the rise and fall has corresponded with the accumulation and liquidation of hedge fund short positions. There have been at least three cycles in WTI prices and hedge ...

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Hedge funds turn very bearish on U.S. crude: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Hedge funds and other money managers had amassed short positions in U.S. crude oil amounting to 154 million barrels by last Tuesday according to data from the U.S. Commodity Futures Trading Commission (CFTC). Short positions have increased more than 70 percent since the middle of ...

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Stein’s law says oil prices will rise: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – “If something cannot go on forever, it will stop,” according to Herbert Stein, former chief economist to U.S. President Richard Nixon (“What I think: essays on economics, politics and life” 1998). Stein’s law is one of the most simple but important statements in economic theory, ...

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Canada inflation rate steady in Oct, energy prices weigh

OTTAWA – Canada’s annual inflation rate held at 1.0 percent in October, remaining at the lower end of the central bank’s target range as it was held down by cheaper energy prices, data from Statistics Canada showed on Friday. The figures were in line with economists’ expectations that inflation would match September’s reading. Prices were higher in seven of the ...

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