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Oil off 2019 highs as U.S. crude stocks build, output hits record

3 hours ago DieselGasoil Comments Off on Oil off 2019 highs as U.S. crude stocks build, output hits record
NEW YORK (Reuters) – Oil prices fell below 2019 highs on Thursday after U.S. government data showed a fifth weekly build in crude inventories and record production, while concerns about slowing global economic growth weighed. FILE PHOTO: An oil pump jack pumps oil in a field near Calgary, Alberta, Canada, July 21, 2014. REUTERS/Todd Korol/File Read More

Oil eases from 2019 highs ahead of U.S. inventory data

5 hours ago DieselGasoil Comments Off on Oil eases from 2019 highs ahead of U.S. inventory data
NEW YORK (Reuters) – Oil prices eased off 2019 highs on Thursday ahead of U.S. government data that was expected to show a fifth weekly build in crude inventories, while concerns about slowing global economic growth weighed. FILE PHOTO: An oil pump jack pumps oil in a field near Calgary, Alberta, Canada, July 21, 2014. Read More

Oil hovers near 2019 highs amid OPEC cuts

7 hours ago DieselGasoil Comments Off on Oil hovers near 2019 highs amid OPEC cuts
LONDON (Reuters) – Oil prices hovered around 2019 highs on Thursday, bolstered by OPEC-led supply cuts and U.S. sanctions on Venezuela and Iran, but were capped by slowing growth in the global economy. FILE PHOTO: An oil pump jack pumps oil in a field near Calgary, Alberta, Canada, July 21, 2014. REUTERS/Todd Korol/File Photo U.S. Read More

Oil slips from 2019 high as economy worries weigh

2 days ago DieselGasoil Comments Off on Oil slips from 2019 high as economy worries weigh
LONDON (Reuters) – Oil fell from its 2019 high of almost $67 a barrel on Tuesday as concerns about the progress of U.S.-China trade talks and slowing economic growth countered lower supplies. FILE PHOTO: A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Read More

Shares and oil at three-month highs but no love for euro

1 week ago DieselGasoil Comments Off on Shares and oil at three-month highs but no love for euro
LONDON (Reuters) – Optimism about U.S.-China trade talks and bumper earnings lifted European shares to a three-month high on Thursday, though news that Germany only dodged recession by the narrowest of margins left the euro feeling unloved. The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, February 13, Read More

European shares, oil at three-month highs but no love for euro

1 week ago DieselGasoil Comments Off on European shares, oil at three-month highs but no love for euro
LONDON (Reuters) – Optimism about U.S.-China trade talks and bumper earnings lifted European shares to a three-month high on Thursday, though news that Germany only dodged recession by the narrowest of margins left the euro feeling unloved. The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, February 13, Read More

Oil gains on Saudi output cuts; rally limited by U.S. output

1 week ago DieselGasoil Comments Off on Oil gains on Saudi output cuts; rally limited by U.S. output
NEW YORK (Reuters) – Oil prices rose almost 2 percent on Wednesday after top exporter Saudi Arabia said it would cut crude exports and deliver an even deeper cut to its production, but swelling U.S. crude inventories limited the day’s gains. FILE PHOTO: An oil pump is seen at sunset outside Scheibenhard, near Strasbourg, France, Read More

Oil extends gain on Saudi output pledge, Trump trade flexibility

1 week ago DieselGasoil Comments Off on Oil extends gain on Saudi output pledge, Trump trade flexibility
By Sharon Cho and Grant Smith on 2/13/2019 Photo: Saudi Aramco. SINGAPORE and LONDON (Bloomberg) — Oil climbed for a second day after Saudi Arabia pledged to deepen production cuts and U.S. President Donald Trump said he might extend a deadline for additional tariffs on China. Futures in New York added as much as 1.5% after Read More

Wall Street falters on prospects of another government shutdown

1 week ago DieselGasoil Comments Off on Wall Street falters on prospects of another government shutdown
(Reuters) – U.S. stocks gave up early gains and were struggling for direction on Monday, as investors weighed the possibility of another partial government shutdown and trade talks between the world’s two largest economies resumed in Beijing. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 8, Read More

Two competing forces are setting the price of oil

2 weeks ago DieselGasoil Comments Off on Two competing forces are setting the price of oil
By Julian Lee on 2/10/2019 Photo: Offshore Latin America. WASHINGTON (Bloomberg Opinion) — As winter keeps its grip on the northern hemisphere it is the oil bulls, not the bears, who have gone into hibernation. The price rally that greeted the new year has fizzled out as renewed concerns about demand growth outweigh the tightening Read More