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Oil prices fall as markets brace for potential U.S. recession

2 hours ago DieselGasoil Comments Off on Oil prices fall as markets brace for potential U.S. recession
SINGAPORE (Reuters) – Oil prices dropped on Monday as concerns of a sharp economic slowdown outweighed supply disruptions from OPEC’s production cutbacks and U.S. sanctions on Iran and Venezuela. FILE PHOTO: FILE PHOTO: An oil pump jack pumps oil in a field near Calgary, Alberta, Canada on July 21, 2014. REUTERS/Todd Korol/File Photo/File Photo Brent Read More

OPEC, Feds in fog of uncertainty

5 hours ago DieselGasoil Comments Off on OPEC, Feds in fog of uncertainty
By Julian Lee on 3/24/2019 Photo: New York City. WASHINGTON (Bloomberg Opinion) — What do OPEC and the Federal Reserve have in common, other than being on the receiving end of angry tweets from President Donald Trump? They are both having a particularly terrible time assessing the outlook for demand, and this is making setting Read More

Alberta sees OPEC pricing go from too cheap to too pricey

3 days ago DieselGasoil Comments Off on Alberta sees OPEC pricing go from too cheap to too pricey
By Robert Tuttle on 3/22/2019 Photo: Canadian Natural. CALGARY (Bloomberg) — Trying to fix the crude market has been hard enough for OPEC. Alberta’s go at it is proving a bigger challenge than the oil-rich Canadian province anticipated. Since mandatory production cuts were announced in December, local heavy crude has gone from too cheap to Read More

More shale, who cares? Saudi Arabia pushes for at least $70 oil

3 days ago DieselGasoil Comments Off on More shale, who cares? Saudi Arabia pushes for at least $70 oil
DUBAI/LONDON (Reuters) – Budget needs are forcing Saudi Arabia to push for oil prices of at least $70 per barrel this year, industry sources say, even though U.S. shale oil producers could benefit and Riyadh’s share of global crude markets might be further eroded. FILE PHOTO: U.S. President Donald Trump welcomes Saudi Arabia’s Crown Prince Read More

Asian shares hit 6-1/2-month high on tech hopes, U.S. data

3 days ago DieselGasoil Comments Off on Asian shares hit 6-1/2-month high on tech hopes, U.S. data
TOKYO (Reuters) – Asian shares hit 6-1/2-month highs on Friday after upbeat U.S. data and optimism in the tech sector lifted Wall Street stocks, helping calm some of the jitters sparked by the Federal Reserve’s cautious outlook on the world’s biggest economy. FILE PHOTO: A man looks at an electronic stock quotation board outside a Read More

Wall Street powers world stocks; Brexit weighs on sterling

3 days ago DieselGasoil Comments Off on Wall Street powers world stocks; Brexit weighs on sterling
NEW YORK (Reuters) – A measure of stocks across the globe rose in a volatile session on Thursday, led by gains on Wall Street, while the dollar rallied as traders continued to digest the Federal Reserve’s uber-dovish stance. Sterling tumbled, down 0.93 percent versus the U.S. dollar, as concern grew alongside the probability of a Read More

Global stocks wilt as Fed shift sparks stampede into bonds

4 days ago DieselGasoil Comments Off on Global stocks wilt as Fed shift sparks stampede into bonds
LONDON (Reuters) – European shares wilted and there was a stampede into bonds on Thursday, after the U.S. Federal Reserve’s abandonment of all plans to raise rates this year left traders wondering what might be lurking in the shadows. FILE PHOTO: Signage is seen outside the entrance of the London Stock Exchange in London, Britain. Read More

US 'oil weapon' could change geopolitics forever

4 days ago DieselGasoil Comments Off on US 'oil weapon' could change geopolitics forever
The United States became the world’s top oil producer in February, and now it may use its leverage to reinforce its position as a geopolitical force. In a dynamic that shows just how far US oil production has come in recent years, the US Energy Information Administration (EIA) said on Monday that in the last two months Read More

Reliance sends fuel from India, Europe to Venezuela to sidestep U.S. sanctions

4 days ago DieselGasoil Comments Off on Reliance sends fuel from India, Europe to Venezuela to sidestep U.S. sanctions
NEW DELHI/MEXICO CITY (Reuters) – India’s Reliance Industries is selling fuels to Venezuela from India and Europe to sidestep sanctions that bar U.S.-based companies from dealing with state-run PDVSA, according to trading sources and Refinitiv Eikon data. FILE PHOTO: The logo of Reliance Industries is pictured in a stall at the Vibrant Gujarat Global Trade Read More

Asian shares rise on Fed dovishness; growth concerns linger

4 days ago DieselGasoil Comments Off on Asian shares rise on Fed dovishness; growth concerns linger
SHANGHAI (Reuters) – Shares in Asia rose on Thursday after the U.S. Federal Reserve abandoned forecasts for any interest rate hikes this year, FILE PHOTO: Passersby walk past in front of an electronic stock quotation board outside a brokerage in Tokyo, Japan, September 28, 2018. REUTERS/Toru Hanai but concerns over U.S.-China trade talks and slowing Read More