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Tag Archives: global oversupply

Global stocks gain as oil price extends recovery

Global stocks gain as oil price extends recovery

SEOUL, South Korea (AP) — Global stocks mostly posted strong gains on Thursday as a rebound in the price of oil and solid U.S. manufacturing data boosted investor sentiment. KEEPING SCORE: In Europe, Germany’s DAX was up 1.6 percent to 9,522.40 and France’s CAC 40 traded 0.8 percent higher at 4,266.89. But Britain’s FTSE 100 edged down 0.3 percent to ...

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Israeli leader defends gas extraction deal in Supreme Court

Israeli Prime Minister Benjamin Netanyahu, center, and unidentified defense lawyers wait for the Supreme Court to convene, in Jerusalem, Sunday, Feb. 14, 2016. Netanyahu made an unprecedented appearance at the Supreme Court to defend a deal signed in December with U.S. and Israeli developers drilling offshore gas deposits. Israel's Channel 10 TV reported Netanyahu as telling the court that if Israel were to alter its deal investors could turn away and buy gas from Israel's enemies instead. (Jim Hollander/Pool Photo via AP)

JERUSALEM (AP) — Israeli Prime Minister Benjamin Netanyahu made an unprecedented appearance at the Supreme Court Sunday to defend a deal signed in December with U.S. and Israeli developers drilling offshore gas deposits. Israel’s Channel 10 TV reported Netanyahu as telling the court that if Israel were to alter its deal investors could turn away and buy gas from Israel’s ...

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Asian stocks directionless ahead of US jobless report

HONG KONG (AP) — Asian stock markets were uneven on Friday as investors awaited U.S. job numbers that could influence how far the Fed raises interest rates this year. Japanese shares sagged on the strengthening yen. KEEPING SCORE: Japan’s benchmark Nikkei 225 index dropped 1.5 percent to 16,791.56 as the dollar weakened against the yen, hurting shares of the country’s ...

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Cheap oil buoys consumers, shakes up global governments

Cheap oil will be sticking around for a while. That reality is wreaking havoc and causing uncertainty for some governments and businesses, while creating financial windfalls for others. Less expensive crude is delighting consumers in some regions, while leading to widespread job losses elsewhere. Oil has fallen from $107 to around $30 in the past 19 months. Furious production by ...

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Exxon’s 4Q and annual profit plunge with oil prices

FILE - This April 29, 2014, file photo, shows an Exxon sign at a Exxon gas station in Carnegie, Pa. Exxon Mobil Corp. reports quarterly financial results on Tuesday, Feb. 2, 2016. (AP Photo/Gene J. Puskar, File)

DALLAS — The big plunge in oil prices is taking Big Oil’s profits down. Exxon Mobil Corp. said Tuesday that fourth-quarter profit fell 58 percent to $2.78 billion. It was the oil giant’s smallest profit since the third quarter of 2002. Exxon’s core exploration and production business lost money in the U.S. and international earnings plummeted by nearly two-thirds. One ...

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