Futures News Oil 

Oil futures rise, as supply fears wait in the wings

“The gains in oil prices could soon be tested by concerns over rising U.S. crude oil output, which is already at record highs” writes Markets Reporter for marketwatch.com. BHGE, +1.49%  said the number of U.S. oil rigs rose by seven last week to 798, marking the fourth-straight rise.West Texas Intermediate futures CLH8, +0.89%  rose 51 cents, or 0.8%, to $62.19 a barrel, after a 4.2% gain last week.Oil futures climbed on Monday, with the commodity picking up where it left off last week, when prices rebounded as investor appetite for…

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Saudi Arabia says it’s in talks with 10 other nations on nuclear energy ambitions, calls for fairness from US

“Known as a 123 agreement, it separates civil and military nuclear facilities and aims to block the steps from nuclear fuel production to potential bomb-making applications” writes Hadley Gamble for cnbc.com. Saudi Arabia’s foreign minister called on the U.S. to give it the same rights as other nuclear nations in its push to process its own nuclear fuel, revealing that it’s currently in talks with 10 other countries should America refuse.Saudi Arabia plans to construct 16 nuclear power reactors over the next 20 to 25 years at a cost of…

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Russia is embarking on an ‘amazing, positive journey’ with Saudi Arabia, Russian investment chief says

“The head of Russia’s $10 billion investment fund has nothing but praise for Saudi Arabia, citing economic diplomacy as the catalyst for improved relations between the two countries” writes Natasha Turak for cnbc.com. “Now we have a great, positive energy deal that stabilized oil prices, and it’s good for producers, consumers, good for our economies …We have done a number of investments together, and we are pursuing better a political relationship because of this economic diplomacy.”.  Source: cnbc.com Share This:

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Interior to hold huge sale of offshore oil, gas leases next month

“The Interior Department said Friday the agency will hold the largest oil and gas lease sale in U.S. history, covering all available unleased areas in federal waters in the Gulf of Mexico” writes Josh Siegel for washingtonexaminer.com. The Interior Department’s Bureau of Ocean Energy Management estimates that offshore resources in the Gulf contain more than 48 billion barrels of oil and 141 trillion cubic feet of natural gas.In January, the Trump administration released its own draft offshore leasing plan, proposing to allow oil and gas drilling in nearly all federal…

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News Oil Stocks 

US stocks struggle for direction after five straight sessions of gains

“U.S. stocks were range bound on Friday, bouncing between gains and losses as investors gauged the latest economic data and corporate earnings reports” writes Ken Martin for foxbusiness.com. The lackluster trade followed five consecutive sessions of gains as stocks rebounded from their recent sell-off.On Friday, investors were digesting the latest batch of corporate earnings.West Texas Intermediate crude oil futures were also little changed. Source: foxbusiness.com Share This:

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Trump warned against Venezuela oil ban, Maduro calls it illegal

“Nicolas Maduro, president of Venezuela, warned President Trump against a ban on imports of oil from the crisis-stricken nation” writes Leia Klingel for foxbusiness.com. In 2016, according to the Energy Information Administration, the U.S. obtained 8% of its oil imports from Venezuela.In an ironic twist, oil prices have recovered, but the plunge in oil production has left the country missing out on billions of potential revenue each month.One of the business casualties of Maduro’s policies has been oil production.Maduro tweeted Thursday that an oil embargo would not only be illegal,…

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Import prices soar 1% in January, add to picture of rising U.S. inflation

“The numbers: The import price index leaped 1% in January to add to a picture of rising inflation in the United States” writes Jeffry Bartash for marketwatch.com. Although the increase was driven by oil, prices rose for a variety of goods such as German cars, French cheese and Italian wine.A spike in oil prices has been the main trigger — fuel imports jumped 4.7% in January -— but a falling dollar has also made imports more expensive.And oil prices have receded lately after hitting recent multiyear peak. Source: marketwatch.com Share This:

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News Oil Reviews 

Oil Daily Review February 16, 2018

Oil Daily Review for February 16, 2018 Oil futures end higher as dollar weakness continues Oil futures settled higher Thursday, reversing earlier losses, as dollar weakness continued. West Texas Intermediate crude for March delivery CLH8, +1   WTI Crude Oil and Natural Gas Forecast Febraury 16, 2018 The WTI Crude Oil market has been very noisy during the trading session on Thursday, initially falling towards the $60 level, but the buyers came back in to …   Maduro warns Trump not to ban Venezuelan oil President Nicolas Maduro of Venezuela…

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