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Oil rebound fizzles as Treasury denies U.S. easing China tariffs

4 days ago DieselGasoil Comments Off on Oil rebound fizzles as Treasury denies U.S. easing China tariffs
By Alex Nussbaum on 1/17/2019 NEW YORK (Bloomberg) — Oil’s after-market rebound waned Thursday after the U.S. Treasury Department disputed a report that the Trump administration might ease trade tariffs against China. Futures in New York climbed as much as 0.5%, erasing what had been a losing session, before slipping again. The turnaround came after Read More

Crude slips as record U.S. output undermines OPEC+ supply curbs

5 days ago DieselGasoil Comments Off on Crude slips as record U.S. output undermines OPEC+ supply curbs
By Alex Nussbaum and Grant Smith on 1/17/2019 NEW YORK (Bloomberg) — Oil retreated toward $51/bbl as record production in the U.S. undercut assurances from Russia that it will step up efforts to drain global supplies. Futures slid as much as 2.5% in New York, trimming gains of 3.6% over the past two days. While Read More

Banks turn stocks red, pound finds some peace

5 days ago DieselGasoil Comments Off on Banks turn stocks red, pound finds some peace
LONDON (Reuters) – Concern over China’s economic outlook and possible U.S. tariffs on European cars dragged stocks lower on Thursday, while an anti-climactic end to the latest chapter in the Brexit saga offered sterling a moment’s peace. FILE PHOTO: New one pound coins, which come into circulation today, are seen in London, Britain March 28, Read More

Stocks turn red, pound finds some peace

5 days ago DieselGasoil Comments Off on Stocks turn red, pound finds some peace
LONDON (Reuters) – Concern over China’s economic outlook and possible U.S. tariffs on European cars dragged stocks lower on Thursday, while an anti-climactic end to the latest chapter in the Brexit saga offered sterling a moment’s peace. FILE PHOTO: New one pound coins, which come into circulation today, are seen in London, Britain March 28, Read More

Stock markets mixed in Asia, pound finds some peace

5 days ago DieselGasoil Comments Off on Stock markets mixed in Asia, pound finds some peace
SYDNEY (Reuters) – Asian stocks nudged higher on Thursday after see-sawing through a subdued session on concerns over China’s economic outlook, while an anti-climactic end to the latest chapter in the Brexit saga offered sterling a moment’s peace. FILE PHOTO: A woman points to an electronic board showing stock prices as she poses in front Read More

Asia shares falter on China unease, pound finds some peace

5 days ago DieselGasoil Comments Off on Asia shares falter on China unease, pound finds some peace
SYDNEY (Reuters) – Asian share markets faltered on Thursday as unease over China’s economic outlook eroded early gains, though an anti-climactic end to the latest chapter in the Brexit saga did offer sterling a moment’s peace. FILE PHOTO: A woman points to an electronic board showing stock prices as she poses in front of the Read More

Oil gains as Russia, Saudis signal commitment to production cuts

6 days ago DieselGasoil Comments Off on Oil gains as Russia, Saudis signal commitment to production cuts
By Alex Nussbaum on 1/16/2019 NEW YORK (Bloomberg) — Oil closed higher for the second straight day as Russia and Saudi Arabia signaled they’re on track with production cuts designed to avoid a global supply glut. Futures in New York staged a mid-afternoon recovery on Wednesday to top $52/bbl, shrugging off bearish U.S. demand data. Read More

Oil gains with Wall Street, but rising U.S. fuel stocks weigh

6 days ago DieselGasoil Comments Off on Oil gains with Wall Street, but rising U.S. fuel stocks weigh
NEW YORK (Reuters) – Oil prices edged higher on Wednesday, buoyed by a U.S. equity market rally and a supply cut agreement by OPEC+, but gains were limited by data showing growing U.S. refined product inventories and record crude production. FILE PHOTO: Pump Jacks are seen at sunrise near Bakersfield, California October 14, 2014. REUTERS/Lucy Read More

Oil slides as U.S. production surge stokes fears of global glut

6 days ago DieselGasoil Comments Off on Oil slides as U.S. production surge stokes fears of global glut
NEW YORK (Bloomberg) — Oil prices gave up their gains Wednesday as U.S. production surged and fuel inventories climbed, stoking fears about an oversupply of crude. American oil drillers pumped a record 11.9 MMbpd last week, the Energy Information Administration said in its weekly report. Stockpiles of gasoline climbed by 7.5 MMbbl — twice the jump Read More

Oil resumes rally as stockpiles ween lower, China eyes tax cuts

6 days ago DieselGasoil Comments Off on Oil resumes rally as stockpiles ween lower, China eyes tax cuts
By Alex Nussbaum on 1/15/2019 Photo: CNOOC. NEW YORK (Bloomberg) — Oil climbed as investors anticipated another decline in U.S. crude inventories and China promised to slash taxes to avert an economic slowdown. Futures in New York rose 3.2% after sinking during the past two sessions. American stockpiles probably fell for the sixth time in Read More