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Oil edges up in volatile session but falls for sixth straight week

3 hours ago DieselGasoil Comments Off on Oil edges up in volatile session but falls for sixth straight week
NEW YORK (Reuters) – Oil ended slightly firmer after volatile trading on Friday, supported by expectations that the Organization of the Petroleum Exporting Countries would agree to cut output next month, though prices fell for the sixth straight week amid global oversupply concerns. FILE PHOTO: A worker checks the valve of an oil pipe at Read More

Oil edges up in volatile session but headed for weekly loss

6 hours ago DieselGasoil Comments Off on Oil edges up in volatile session but headed for weekly loss
NEW YORK (Reuters) – Oil traded up slightly in a volatile session on Friday, supported by expectations that the Organization of the Petroleum Exporting Countries would agree to cut output next month, though prices were set to for a weekly drop on underlying oversupply worries. FILE PHOTO: A worker checks the valve of an oil Read More

Dollar, U.S. yields fall on Fed comments; Brexit casts shadow

8 hours ago DieselGasoil Comments Off on Dollar, U.S. yields fall on Fed comments; Brexit casts shadow
NEW YORK (Reuters) – The U.S. dollar weakened and Treasury yields pulled back on Friday after a top Federal Reserve official said U.S. interest rates are near a neutral rate, while continued uncertainty over Brexit clouded currency and other markets. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, Read More

Analysis: OPEC's production profile has changed, complicating negotiations over oil cuts

9 hours ago DieselGasoil Comments Off on Analysis: OPEC's production profile has changed, complicating negotiations over oil cuts
Dubai — OPEC and its allies have all but decided to cut oil production in 2019 to shore up what they see as a weak market ahead. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Now comes the hard part: negotiating how much to cut, how to allocate quotas, Read More

Heavy Canadian crude falls to record low

10 hours ago DieselGasoil Comments Off on Heavy Canadian crude falls to record low
By Robert Tuttle on 11/16/2018 CALGARY (Bloomberg) — Heavy Western Canadian Select crude fell to a record low as several oil producers shut in production and some demand the Alberta government intervene to mandate across-the-board cuts.  The oil-sands benchmark fell $2.29 to $13.46/bbl Thursday, the lowest in Bloomberg data extending back to 2008. The price Read More

Oil rises, paring sixth weekly loss on expectation of OPEC cuts

10 hours ago DieselGasoil Comments Off on Oil rises, paring sixth weekly loss on expectation of OPEC cuts
By Tsuyoshi Inajima and Grant Smith on 11/16/2018 TOKYO and LONDON (Bloomberg) — Oil rose, paring a sixth weekly loss, amid growing confidence that OPEC and its partners will reduce production to avert a glut next year.  Futures in New York rose 1.8% Friday, trimming the weekly drop to 4.6%. With OPEC seeing waning demand Read More

Oil firms on supply cut talk; still set for sixth weekly loss

15 hours ago DieselGasoil Comments Off on Oil firms on supply cut talk; still set for sixth weekly loss
LONDON (Reuters) – Oil rose on Friday on hopes that supply cuts will be agreed at OPEC’s meeting on Dec. 6, but failed to recoup recent losses on oversupply concerns that have shaved more than a fifth off the Brent crude benchmark since early October. FILE PHOTO: A worker checks the valve of an oil Read More

Sterling scarred by Brexit turmoil; Asia shares cling to trade hopes

24 hours ago DieselGasoil Comments Off on Sterling scarred by Brexit turmoil; Asia shares cling to trade hopes
SYDNEY (Reuters) – The British pound lay battered and bruised in Asia on Friday after a bout of political turmoil fanned fears the country could crash out of the European Union without a divorce deal. An employee of a foreign exchange trading company works in front of monitors in Tokyo, Japan November 7, 2018. REUTERS/Toru Read More

Wall Street climbs on hopes of easing trade tensions

1 day ago DieselGasoil Comments Off on Wall Street climbs on hopes of easing trade tensions
NEW YORK (Reuters) – U.S. stocks rose on Thursday on optimism the United States and China could resolve their trade dispute, after a news report said Washington would pause further tariffs on Chinese imports. Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 12, 2018. REUTERS/Brendan Read More

Questions remain over UAE imports of Iranian condensate amid US sanctions

1 day ago DieselGasoil Comments Off on Questions remain over UAE imports of Iranian condensate amid US sanctions
Houston — The benchmark Western Canadian heavy sour crude was trading slightly lower Thursday, one day after having set a record low price on an outright basis, according to market sources and S&P Global Platts data. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Western Canadian Select at Hardisty, Read More