Futures Markets News Oil 

Oil prices trade mixed, contracts remain on track for a third weekly decline in a row

“Oil futures saw mixed trading Friday, finding some support as Saudi Arabia expects to reduce exports in August, easing some concerns of coming oversupply in the market” writes Saefong William Watts for marketwatch.com. The global benchmark, September Brent crude LCOU8, +0.22%  traded at $72.80 a barrel, up 22 cents, or 0.3%, on ICE Futures Europe.Traders also look to the release of weekly U.S. oil rig data from oil-field services firm Baker Hughes BHGE, -0.16%  due at 1 p.m.Prices, however, remained on track for a third-straight weekly decline on renewed trade-war…

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Futures Markets News Oil 

Oil lower on renewed trade-war fears

“Oil futures traded lower Friday, on track for a third straight weekly decline, on renewed trade-war fears after President Donald Trump said he was ready to impose tariffs on all $505 billion worth of Chinese imports” writes Deputy Markets Editor for marketwatch.com. Traders on Friday will be looking ahead to the release of weekly oil rig data from oil-field services firm Baker Hughes.The global benchmark, September Brent crude LCOU8, +0.10%  was flat at $72.58 a barrel, on the ICE Europe exchange.West Texas Intermediate crude for September delivery CLU8, -0.09% the…

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Brent crude rebounds slightly from biggest drop in 2 1/2 years

“The global oil market supply backdrop also remains constructive, analysts said, with Brent prices having flirted with three-year highs earlier in the week amid a spate of global supply issues” writes David Hodari for marketwatch.com. On the strength of that report, “the oil market would be sufficiently supplied next year,” Commerzbank said in its research note.Commerzbank said in a note that it is unclear how much damage has been sustained in the reclaimed oil ports following fighting last month.September Brent crude LCOU8, +0.46% rose $1.08, or 1.5%, to $74.48 a…

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Brent oil gains $1 to claw back some losses

“The announcement by Libya’s National Oil Corp that four export terminals were being reopened, ending a standoff that had shut down most of Libya’s oil output, was the catalyst for a correction, Razaqzada said” writes Andrew Cullen for cnbc.com. U.S. crude rose 21 cents, or 0.3 percent, to $70.59, after falling 5 percent the previous session.Brent crude was up 96 cents, or 1.31 percent, at$74.36 by 0102 GMT, after earlier rising to $74.46.Brent crude rose more than $1 on Thursday as focus turned to a big drawdown in U.S. stockpiles,…

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Brent leads crude prices higher as Norway oil workers get ready to strike

“TOKYO (Reuters) – Oil prices rose on Tuesday on escalating concerns over potential supply shortages, with Brent crude leading the way as hundreds of oil workers in Norway were set to strike later in the day” writes Midwest Communications Inc for 95kqds.com. Brent crude had added 32 cents, or 0.4 percent, to $78.39 per barrel by around 0303 GMT, following a 1.2-percent climb on Monday.Libya’s national oil production fell to 527,000 barrels per day from a high of 1.28 million bpd in February following recent oil port closures, the head…

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Brent slides after OPEC lifts output caps

“That flow is liable to go primarily to consumers of Brent crude” writes Biman Mukherji for marketwatch.com. –Brent oil futures maintained its start-of-trading slide in afternoon Asian trading Monday as investors continued to react to the end-of-week agreement to lift production caps. –August Brent futures were recently down 1.8% at $74.17 a barrel after Friday’s 3.4% jump. Source: marketwatch.com Share This:

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Brent drops by 2 percent as traders expect output rise after OPEC deal

“Brent crude futures , the international benchmark for oil prices, were at $73.90 per barrel at 0035 GMT, down 2.2 percent from their last close” reports cnbc.com. Brent crude oil prices fell by more than 2 percent early on Monday as traders factored in an expected output increase that was agreed at the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna on Friday.In the United States, U.S. energy companies last week cut one oil rig, the first reduction in 12 weeks, taking the total rig count…

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Brent oil prices drop by 2 percent as traders expect output rise after OPEC deal

“Brent crude futures , the international benchmark for oil prices, were at $73.90 per barrel at 0035 GMT, down 2.2 percent from their last close” writes Midwest Communications Inc for 95kqds.com. SINGAPORE (Reuters) – Brent crude oil prices fell by more than 2 percent early on Monday as traders factored in an expected output increase that was agreed at the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna on Friday.Energy consultancy Wood Mackenzie said the agreement “represents a compromise between responding to consumer pressure and the…

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Evacuations as buildings collapse in north London

“A spokesman for the London Fire Brigade said five people were evacuated from the area by the volunteer Orthodox neighbourhood watch charity Shomrim, and that crews escorted a further 15 people to safety” writes unknown author for huffingtonpost.co.uk. There are no reports of injuries and Brent Street will remain closed in both directions while the area is secured. Source: huffingtonpost.co.uk Share This:

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Brent oil prices head for 6-week low on expectations of OPEC output hike

“Major oil producers meet June 22 in Vienna” writes Saefong William Watts for marketwatch.com. The EIA data also showed domestic crude stockpiles fell by 4.1 million barrels in the week ended June 8.The Energy Information Administration reported Wednesday total domestic crude production climbed by 100,000 barrels a day to a weekly record of 10.9 million barrels a day.August Brent crude LCOQ8, -3.25% the global benchmark, declined by $2.69, or 3.5%, to $73.25 a barrel on ICE Futures Europe. Source: marketwatch.com Share This:

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