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Trump sparks oil rally with Iran spat

41 mins ago DieselGasoil Comments Off on Trump sparks oil rally with Iran spat
By Grant Smith on 5/24/2019 Photo: U.S. President Donald Trump. LONDON (Bloomberg) — Just over a week ago, crude prices were surging as attacks on Saudi Arabia’s oil tankers and pipeline network spurred fears that the Middle East was on the brink of military confrontation. In the past two days, however, oil has suffered its Read More

Global stocks climb on muted trade hopes, sterling yo-yos as PM May quits

4 hours ago DieselGasoil Comments Off on Global stocks climb on muted trade hopes, sterling yo-yos as PM May quits
LONDON (Reuters) – World stocks edged higher on Friday and oil prices bounced after comments by President Donald Trump encouraged hopes of progress in U.S.-China trade talks while British Prime Minister Theresa May’s resignation briefly sent sterling fluctuating wildly. FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, Read More

Oil rises toward $69, but set for 2019’s biggest weekly loss

5 hours ago DieselGasoil Comments Off on Oil rises toward $69, but set for 2019’s biggest weekly loss
LONDON (Reuters) – Oil rose toward $69 a barrel on Friday after two sessions of losses, but remained on track for its biggest weekly drop this year due to rising inventories and concerns of an economic slowdown. FILE PHOTO: An oil pump jack pumps oil in a field near Calgary, Alberta, Canada, July 21, 2014. Read More

Asia stocks flat as trade worries linger, Europe to open higher

8 hours ago DieselGasoil Comments Off on Asia stocks flat as trade worries linger, Europe to open higher
TOKYO/HONG KONG (Reuters) – Asian stock markets were mixed on Friday, with sentiment torn between investors worried that the U.S.-China trade war was becoming more protracted, and others hopeful that the world’s two largest economies would reach a settlement soon. FILE PHOTO: A man is reflected in an electronic board showing the graph of the Read More

Oil recovers, but set for biggest weekly loss of 2019

9 hours ago DieselGasoil Comments Off on Oil recovers, but set for biggest weekly loss of 2019
SINGAPORE (Reuters) – Oil prices recouped more than 1% on Friday but were on track for their biggest weekly loss this year after swelling inventories and jitters over an economic slowdown led to big falls earlier in the week. FILE PHOTO: An oil pump jack pumps oil in a field near Calgary, Alberta, Canada, July Read More

Fears of deeper U.S.-China trade war push Asian shares to four-month low

11 hours ago DieselGasoil Comments Off on Fears of deeper U.S.-China trade war push Asian shares to four-month low
Tokyo (Reuters) – Asian stocks stumbled to a four-month low on Friday and crude oil plunged on worries the U.S.-China trade spat was developing into a more entrenched strategic dispute between the world’s two largest economies, pushing investors to safe-haven assets. FILE PHOTO: A man is reflected in an electronic board showing the graph of Read More

Oil bounces back, but markets remain fragile amid trade disputes

12 hours ago DieselGasoil Comments Off on Oil bounces back, but markets remain fragile amid trade disputes
SINGAPORE (Reuters) – Oil prices jumped more than 1% on Friday amid OPEC supply cuts and Middle East tensions, but still did not fully recoup losses earlier in the week on economic slowdown jitters and swelling inventories – their steepest drops since the start of the year. FILE PHOTO: An oil pump jack pumps oil Read More

Russia, Poland set goal to restart oil pipeline as tensions linger

18 hours ago DieselGasoil Comments Off on Russia, Poland set goal to restart oil pipeline as tensions linger
By Maciej Martewicz and Marek Strzelecki on 5/23/2019 Photo: Druzhba pipeline, Russia. WARSAW (Bloomberg) — Although compensation for damage caused during a contamination crisis remains a sticking point, Russia and Poland said flows of clean oil through the giant Druzhba pipeline into Europe could resume within 2 1/2 weeks. Transneft PJSC, Russia’s state crude oil Read More

Oil plummets, on track for biggest weekly drop in 2019

19 hours ago DieselGasoil Comments Off on Oil plummets, on track for biggest weekly drop in 2019
NEW YORK (Reuters) – Oil prices plunged on Thursday, losing about 5% as trade tensions dampened the demand outlook, putting the crude benchmarks on course for their biggest daily and weekly falls in six months. FILE PHOTO: A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy Read More

U.S. fills in on oil where OPEC refuses to go

2 days ago DieselGasoil Comments Off on U.S. fills in on oil where OPEC refuses to go
By Robert Burgess on 5/22/2019 Photo: U.S. President Donald Trump. NEW YORK (Bloomberg Opinion) — President Donald Trump has from time to time lobbed tweets toward OPEC, imploring it to open the spigots and boost supply to lower the price of oil. The cartel has largely ignored the pleas, but U.S. producers seem to have Read More