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Stocks reverse losses, Treasury yields dip following remarks by Fed’s Powell

4 hours ago DieselGasoil Comments Off on Stocks reverse losses, Treasury yields dip following remarks by Fed’s Powell
NEW YORK (Reuters) – The S&P 500 and the Dow reversed losses to close higher on Wednesday and U.S. Treasury yields slipped after remarks by Federal Reserve Chair Jerome Powell tempered the market’s initial reaction to the U.S. central bank’s policy statement. Traders work on the floor at the New York Stock Exchange (NYSE) in Read More

Riyadh gave NO PROOF Tehran launched oil-plant attack – but still ‘expects US to do its dirty work for them’

4 hours ago DieselGasoil Comments Off on Riyadh gave NO PROOF Tehran launched oil-plant attack – but still ‘expects US to do its dirty work for them’
Saudi Arabia wants its allies to believe Tehran launched attacks on its oil facilities, even though the one thing their evidence proves is the Iranian-made arms. Even so, Donald Trump will unlikely greenlight a war against Iran. ‘Made in Iran’ is not ‘launched by Iran’ The possibility that Iranian-made missiles were used in the attack Read More

Fed cuts rates again, gives mixed signals for next move

5 hours ago DieselGasoil Comments Off on Fed cuts rates again, gives mixed signals for next move
NEW YORK (Reuters) – The U.S. Federal Reserve cut interest rates by a quarter of a percentage point for the second time this year on Wednesday in a widely expected move meant to sustain a decade-long economic expansion, but gave mixed signals about what may happen next. HIGHLIGHTS: ** Fed cuts target interest rate 25 Read More

Instant view: Fed cuts rates again, gives mixed signals for next move

6 hours ago DieselGasoil Comments Off on Instant view: Fed cuts rates again, gives mixed signals for next move
NEW YORK (Reuters) – The U.S. Federal Reserve cut interest rates by a quarter of a percentage point for the second time this year on Wednesday in a widely expected move meant to sustain a decade-long economic expansion, but gave mixed signals about what may happen next. HIGHLIGHTS: ** Fed cuts target interest rate 25 Read More

Saudi oil output to recover in two or three weeks after attack: sources

1 day ago DieselGasoil Comments Off on Saudi oil output to recover in two or three weeks after attack: sources
LONDON/DUBAI (Reuters) – Saudi Arabia sought to calm markets on Tuesday after an attack on its oil facilities, with sources in the kingdom saying output was recovering much more quickly than initially forecast and could be fully back in two or three weeks. A satellite image showing damage to oil/gas Saudi Aramco infrastructure at Abqaiq, Read More

Iran rules out talks as Trump blames Tehran for Saudi oil attack

1 day ago DieselGasoil Comments Off on Iran rules out talks as Trump blames Tehran for Saudi oil attack
DUBAI/WASHINGTON (Reuters) – Iran’s supreme leader on Tuesday ruled out talks with Washington after President Donald Trump blamed Tehran for a crippling attack on Saudi Arabia’s oil facilities. Iran’s Supreme Leader Ayatollah Ali Khamenei gives a speech to a group of scholars and seminary students of religious sciences in Tehran, Iran September 17, 2019. Official Read More

Chevron can resume Saudi-Kuwait oilfield quickly if needed: CEO

2 days ago DieselGasoil Comments Off on Chevron can resume Saudi-Kuwait oilfield quickly if needed: CEO
By Kevin Crowley on 9/17/2019 HOUSTON (Bloomberg) – Chevron could start oil production “relatively quickly” in the so-called partitioned zone between Saudi Arabia and Kuwait if required to by both nations, CEO Mike Wirth said in an interview with CNBC. The zone can produce as much as 500,000 bpd but has been shuttered for at Read More

Oil shock unites China with Asia rivals worried about supply

2 days ago DieselGasoil Comments Off on Oil shock unites China with Asia rivals worried about supply
By Iain Marlow, Dandan Li and Archana Chaudhary on 9/17/2019 HONG KONG (Bloomberg) – If anything could distract Asia’s top powers from sparring over disputed territory and crimes committed during World War II, it’s the need for cheap oil. Asia accounts for more than 70% of Saudi Arabia’s crude exports, with the four biggest economies Read More

Oil rally holds as traders weigh Saudi supply loss, geopolitical risks

2 days ago DieselGasoil Comments Off on Oil rally holds as traders weigh Saudi supply loss, geopolitical risks
Highlights Market awaits updates from Saudi Arabia Houthis take credit for attack; US blames Iran Global crude stocks tighten New York — Petroleum futures remained bullish Monday as traders evaluated the fallout from the Saturday’s attacks on key Saudi Arabian oil infrastructure. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Read More