Oil Price

Update – Oil prices rise as tight supplies compete with economic concerns

LONDON, May 15 (Reuters) - Oil prices edged up on Monday as the prospect of tightening supplies due to OPEC+ production cuts and a resumption in U.S. buying for reserves outweighed concerns…

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OPEC+ agrees no change to oil policy – sources

LONDON/DUBAI, Dec 4 (Reuters) - OPEC+ agreed to stick to its oil output targets at a meeting on Sunday, two OPEC+ sources told Reuters, as the oil markets struggle to assess the…

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Oil falls on recession jitters, China COVID curbs

MELBOURNE, July 11 (Reuters) - Oil prices fell around $1 on Monday in volatile trade, reversing some gains from the previous session, as worries about a recession and China's COVID-19 curbs hitting…

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Oil dips on recession fears but tight supply caps decline

SINGAPORE, July 8 (Reuters) - Oil prices slipped in Asian trade on Friday as recession fears continued to weigh on sentiment, though worries over tight global supplies capped price declines. Brent crude futures LCOc1 fell…

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Brent bounces above $101/bbl as focus returns to supplies

July 7 (Reuters) - Oil prices regained a footing on Thursday from steep falls in the previous two sessions, as investors returned their focus to tight supplies even as fears persisted over…

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Oil could hit $380 if Russia slashes output over price cap, J.P.Morgan says

July 4 (Reuters) - Brent prices could soar to a "stratospheric" $380 a barrel in "the most extreme scenario" of Russia slashing oil production by 5 million barrels per day (bpd) in…

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Oil prices edge higher ahead of G7 talks on new Russian sanctions

LONDON, June 27 (Reuters) - Oil prices edged higher on Monday in a volatile session as investors waited for any moves against Russian oil and gas exports that might come out of…

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Brent oil six-month spread falls to lowest since Jan as supply fears ease

LONDON, April 7 (Reuters) - The Brent crude six-month spread has fallen to its lowest since January, Refinitiv Eikon data showed, as a release of strategic oil reserves by the United States…

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Oil gains $1 as emergency oil release seen as band-aid

MELBOURNE, April 7 (Reuters) - Oil prices clawed back some losses on Thursday after tumbling more than 5% to a three-week low in the previous session after consuming nations announced a huge…

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Spain to approve 16 bln euros in aid to mitigate soaring energy prices

MADRID, March 28 (Reuters) - The Spanish government will approve on Tuesday a package of around 16 billion euros ($17.5 billion) in direct aid and soft loans to help companies and households…

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Ukrainians trapped in besieged city as fighting blocks evacuation efforts

LVIV/KYIV, Ukraine, March 7 (Reuters) - About 200,000 people remained trapped in the besieged city of Mariupol on Monday after fighting stopped evacuation efforts over the weekend, with no sign that massive…

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UPDATE – Crude oil price jumps on global energy crunch

LONDON, Oct 11 (Reuters) - Oil prices rose more than 2% on Monday, extending gains as an energy crisis gripping major economies shows no sign of easing amid a pick…

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Oil rises as full U.S. clearance for COVID-19 vaccine stokes demand hopes

Oil prices rose on Tuesday after the U.S. drug regulator granted full approval to the Pfizer Inc/BioNTech SE COVID-19 vaccine, stoking investor hopes that higher fuel demand would follow a potential…

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Oil holds near $67, heads for weekly gain on demand hopes

LONDON, April 16 (Reuters) - Oil held near $67 a barrel on Friday and was heading for a weekly gain as a stronger demand outlook and signs of economic recovery in China…

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Oil rises to touch $52 after Trump signs aid bill

LONDON, Dec 28 (Reuters) - Oil rose to hit $52 a barrel on Monday as U.S. President Donald Trump's signing of a coronavirus aid package and the start of a…

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Oil prices struggle to break through to demand uncertainty

Oil prices were little changed on Monday, with Brent slipping from a five-month high as global demand struggled to return to pre-COVID levels in a well supplied market. Brent crude…

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CiNext – OPEC maintains illusion of control over oil price

by George Hay via Reuters Breakingviews OPEC is sticking to its word, even if that word is worth less than it was. The oil producer group and allies like Russia,…

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Oil prices drop for 2nd straight session as coronavirus spike cools demand hopes

Oil prices slid for a second straight session on Monday as coronavirus cases rose in the United States and other places, leading countries to resume partial lockdowns that could hurt…

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Oil edges up on tighter supply, but demand concerns check gains

Oil prices nudged higher on Monday on tighter supplies from major producers, but concerns that a record rise in global coronavirus cases could curb a recovery in fuel demand checked…

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Oil prices rise on faith in supply cuts, demand recovery

Oil prices pushed higher in early trade on Friday, building on gains in the previous session, after OPEC producers and allies promised to meet their supply cut commitments and two…

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Oil prices rise to highest since March after U.S. stock drawdown

Oil prices rose on Thursday to their highest since March, as a drawdown of U.S. crude inventories and output cuts by major producers helped ease concerns about a supply glut,…

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Oil extends gains amid signs of China demand pickup

Oil prices rose on Friday, extending day-earlier gains, as data showed demand for crude picking up in China after the easing of curbs to stem the coronavirus outbreak, boosting hopes…

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Oil falls amid concerns about new coronavirus outbreaks

Reuters reports that oil prices fell in early Asian trading on Wednesday after industry data showed a rise in U.S. crude inventories and concerns mount about a possible second wave…

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US oil prices approaching negative territory again

Over capacity and storage issues have prompted business analysts and oil experts to expect that the benchmark price for American crude oil could move back into negative territory. June…

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US oil price plunges to 20-year low

US oil prices crashed to a more than two-decade low as the coronavirus pandemic hits global demand for crude and raises concerns about storage facilities being overwhelmed. In early Asian…

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Trading in US shares resumes after sharp fall led to automatic halt in what is being dubbed as ‘Black Monday’

Trading in US shares has been suspended as sharp falls led to an automatic halt in the selling and buying of stocks. The day has been dubbed "Black Monday" by…

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How will the US – Iran tension escalation impact oil prices?

The killing of Iran’s most revered military leader could be more impactful for the oil market than other recent incidents that have just temporarily spiked crude prices. Iranian General Soleimani,…

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Oil price recedes on Saudi supply reassurance

Oil prices cooled on Wednesday as Saudi Arabia said the kingdom had fully restored its oil supply following attacks on its crude facilities although caution ahead of an expected U.S.…

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Oil prices fall amid worries about an economic slowdown

Oil prices dipped on Monday amid worries about an economic slowdown and the Sino-U.S. trade war, which have led to a cut in the growth outlook for oil demand. International…

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Midday Dispatch – Financial and Corporate News

Deutsche Bank laid off staff from Sydney to London on Monday as it began 18,000 job cuts in a 7.4 billion euro “reinvention” which Germany’s largest lender said would mean…

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Midday Corporate Dispatch – Financial and Corporate News

These are the salient financial and corporate news. Provisional figures for Malta’s external transactions show that during January-March 2019, the current account balance recorded a surplus of €48.9 million as…

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Libyan crises pushes oil price to highest level for 2019

Oil gushed back up past $70 a barrel to its highest level this year on Monday as fresh fighting in Libya reignited fears of civil war in the north African…

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Venezuela’s trouble leads oil price to reach two-month high

Oil hit a two-month high close to $64 a barrel on Monday as OPEC-led supply cuts and US sanctions against Venezuela’s petroleum industry offset forecasts of weaker demand and an…

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The Eastern Mediterranean Energy and Oil Contest – Analysis

Former Vice-President of the United States Dick Cheney once said: “the good lord didn’t see fit to put oil and gas only where there are democratically elected states… Occasionally we…

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Oil price hit $82.55 per barrel, its highest since November 2014

Oil prices rose Tuesday on global supply concerns following U.S. sanctions on Iran’s oil exports, with benchmark Brent surging to a four-year high, then retraced gains to settle just slightly…

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Oil price goes above $70 a barrel for first time in over three years

US crude oil prices have pushed above $70 a barrel for the first time in over three years as concerns have grown over supplies from Iran and Venezuela. West Texas…

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Oil prices are artificially Very High! – Trump

"Looks like OPEC is at it again," he wrote. "With record amounts of oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very…

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