Markets News Oil Stocks 

Global oil supply surplus may soon become a shortage

“Oil prices have rallied so far this year, as OPEC-led efforts have helped erase a big global surplus, but the market may soon suffer from a new dilemma: a shortage of crude supplies that would support further price gains” writes Markets Commodities Reporter for marketwatch.com. For the past couple of months, the IEA has underestimated global demand, with its first-quarter 2018 estimate at 98.1 million barrels a day–which is likely about 0.3 million barrels a day short of true global demand, according to Parry.When OPEC reached an agreement in late…

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Iran intl. oil show to host start-up demo days

“The Iran oil show is among the most significant oil and gas events in the world in terms of the number of participants and its diversity” reports tehrantimes.com. Through the event, startup runners and investors can interact with each other and talk about their ideas.It aims to attract investors for newly-established startups and knowledge enterprises active in the field of gas and oil. Source: tehrantimes.com Share This:

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Trump criticizes OPEC, calling oil prices ‘artificially’ high

“With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High!” writes Clifford Krauss for seattletimes.com. HOUSTON — As domestic gasoline prices surged to their highest level in three years, President Donald Trump railed against the OPEC oil cartel on Friday, declaring that the group was unjustifiably manipulating supplies for selfish gain. In the Seattle metro area, the average price was $3.33 a gallon Friday, up 16 cents from a month ago and up 37 cents from a year…

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Trump May Be More to Blame For Higher Oil Prices Than OPEC

“President Donald Trump, who is criticizing OPEC for higher oil prices, may himself be as much to blame for the recent surge in crude prices as the oil cartel, experts said” writes Tom Terrarosa for thestreet.com. But higher oil prices are the inevitable result of the oil markets healing, Petersen said. “[Trump] and every politician up for reelection are worried about higher prices at the pump this summer,” she said. Source: thestreet.com Share This:

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11 CBD-Oil Products for the Budding Weed Beauty Lover

“4/20 may be an official stoner holiday, but that doesn’t mean their preferred beauty products should be relegated to just one day of the year” writes Chloe Hall for elle.com. So whether you’re looking to celebrate 4/20 in a legal way or just want to keep up on beauty’s buzziest ingredient, shop these CBD oil-based beauty products.In fact, thanks possibly to the good people of Colorado or (like many other things) her Royal Highness Rihanna, products infused with CBD oil are rapidly becoming the product du jour.Shereene Idriss of Union…

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Trump can’t do much more than tweet about high oil prices if OPEC’s power play with Russia holds: Yergin

“They are going to continue to squeeze” oil prices higher” writes Matthew J for cnbc.com. Yergin, vice chairman of consultancy group IHS Markit, said he’s not surprised that Trump jumped on the higher oil prices, which usually means higher gas prices at the pump.Saudi Arabia’s oil minister told CNBC on Friday that a dramatic upswing in crude prices was little reason to become complacent.But even as President Donald Trump on Friday blasted the cartel for keeping oil prices “artificially” high, there are few options for the White House to fight…

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Trump blasts OPEC, says cartel is keeping oil prices ‘artificially very high’ and that ‘will not be accepted’

“With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High!” writes John Melloy for cnbc.com. WTI oil prices hit a three-year high above $69 a barrel this week and were still trading above $68 on Friday. Oil prices retreated from their highs following Trump’s tweets: WTI crude was down 0.5 percent and Brent was 0.6 percent lower.The international benchmark, Brent crude, was above $73 on Friday after also hitting its highest level since November 2014 this week.President Donald…

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There’s an ‘interesting phenomenon’ happening with crude, and it could be sending a signal to bonds

“We have this interesting phenomenon where crude oil is highly correlated to the direction of inflation expectations,” Bilello told CNBC’s “Trading Nation” on Thursday” writes unknown author for cnbc.com. The Federal Reserve is sure to hike interest rates again this year, but the key question is how many times.Since 2016, crude oil has made a roughly 160 percent advance, picking up speed this year, and inflation expectations have risen alongside it.From 2014 to 2016, for example, when the oil glut pushed crude below $30 a barrel, inflation expectations also tumbled.”The…

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Oil falls after Trump goes after OPEC in a tweet

“Crude futures steadied on Friday, recovering from a sharp drop after President Donald Trump suggested in a tweet that OPEC is keeping oil prices artificially high” writes Tom Dichristopher for cnbc.com. U.S. West Texas Intermediate crude oil prices were up 4 cents at $68.37 a barrel, after dropping as low as $67.50 after Trump’s tweet. However, oil market watchers said it’s unlikely Trump would use the reserve as a means of countering OPEC’s production cuts.The prolonged oil price rout heaped pressure on nations like Saudi Arabia that depend on oil…

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Russia says the oil supply situation has improved but not yet at a ‘full recovery’

“The supply-cutting deal led by OPEC has not yet completed its mission to rebalance the oil market, Russian Energy Minister Alexander Novak told CNBC Friday” writes Silvia Amaro for cnbc.com. The agreement was initially brought forward to boost oil prices after years of stalled levels.Oil producing countries are set to meet in June to review the deal. Source: cnbc.com Share This:

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