News Oil 

Oil prices end higher after three-session decline

“Oil prices finished higher Thursday, following losses over the past three trading sessions” writes Markets Commodities Reporter for marketwatch.com. Traders continued to digest data from the Energy Information Administration released Wednesday that revealed a rise in total U.S. crude production to their highest level in more than two years, but also a weekly drop in domestic supplies that was the largest in 11 months. September West Texas Intermediate crude CLU7, +0.62% rose 31 cents, or 0.7%, to settle at $47.09 a barrel on the New York Mercantile Exchange. Source: marketwatch.com Share…

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Futures News Oil 

Oil prices rebound after EIA-fueled selloff

“Oil futures rebounded slightly on Thursday, a day after heavy selling that came on the back of data showing U.S. oil production has jumped to an over two-year high” writes Markets Reporter for marketwatch.com. On the New York Mercantile Exchange, light sweet crude futures for delivery in September CLU7, +0.15%  gained 11 cents, or 0.2%, to $46.89.The Energy Information Administration reported a rise of 79,000 barrels a day in total crude-oil production to 9.502 million barrels a day last week.There’s also concerns that the OPEC-led cuts are incentivizing other oil…

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News Oil 

The energy sector has tumbled 16 percent this year — is it time to buy?

“The energy sector was the only negative sector in the session (and one of two negative for the year, along with telecommunications)” writes Richard Bord for cnbc.com. More pain is ahead for this year’s worst-performing sector, according to strategists who see oil prices dragging energy stocks even lower.Between now and Halloween, he said, oil demand in the U.S. will likely decline by between 800,000 and 1.3 million barrels per day.”Certainly, the fundamentals are pointing toward lower oil prices.Some individual energy names still have decent dividend yields, Gilbert said, and have…

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News Oil 

Superior dividends and great valuations: why investors should consider oil stocks

“Wittmann added that these oil companies offer superior dividend yields at great valuations and adds that the sector is attractive right now” writes Mohd Jailanee Othman for cnbc.com. While the global oversupply of oil continues to weigh on crude prices and suppressed stock prices for oil companies, the sector offers attractive value to investors, experts argue.Crude oil prices are stuck in the range of $45 to $60 a barrel, according to Wittmann, but he thinks there is great value in the stocks of the super major oil companies.”The sector has…

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Futures News Oil 

Oil prices rise on hopes for another big drop in U.S. inventories

“Oil futures rose Wednesday after an industry-group report said U.S. crude inventories logged another big drop last week” writes Biman Mukherji for marketwatch.com. On the New York Mercantile Exchange, light sweet crude futures for delivery in Septembe r CLU7, +0.55%  was recently up 0.4% at $47.74 a barrel in the Globex electronic session.The survey also showed expectations for declines of 400,000 barrels for gasoline stockpiles and 700,000 barrels for distillates, which include heating oil.October Brent crude LCOV7, +0.65%   on London’s ICE Futures rose 0.5% to $51.06. Source: marketwatch.com Share This:

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News Oil 

Energy Department to sell 14 million barrels from Strategic Petroleum Reserve

“The Cures Act requires the Energy Department to sell 25 million barrels of crude oil over three consecutive years” writes Josh Siegel for washingtonexaminer.com. The Department of Energy plans to sell 14 million barrels of the nation’s 40-year-old crude oil reserve this month as a way to bring in revenue to the Treasury.Under the Bipartisan Budget Act of 2015, the Energy Department is directed to sell a total of 58 million barrels of crude oil from the reserve fund, over eight consecutive years. Source: washingtonexaminer.com Share This:

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News Oil 

Oil prices cut their losses ahead of U.S. supply data

“Concerns over growing U.S. shale-oil production weighed on the market, but prices found some support from the latest U.S. crude-supply forecasts” writes Markets Commodities Reporter for marketwatch.com. Analysts expect Wednesday’s Energy Information Administration report to show a seventh-straight weekly decline for U.S. crude inventories. September West Texas Intermediate crude CLU7, +0.06% fell 4 cents, or less than 0.1%, to settle at $47.55 a barrel on the New York Mercantile Exchange. Source: marketwatch.com Share This:

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News Oil 

Oil at 3-week low, pressured by growth in U.S. shale output

“Analysts polled by S&P Global Platts expect the EIA report to show that crude supplies fell 3.6 million barrels last week” writes Markets Commodities Reporter for marketwatch.com. Brent oil for October LCOV7, -0.49%  was down 45 cents, or 0.9%, to $50.28 a barrel on ICE Futures Europe.Crude-oil prices extended their declines to a second-straight session Tuesday, holding ground at their lowest level in three weeks, after data showed that crude output from key U.S. shale regions is likely to continue to grow.They also expect to see declines of 400,000 barrels…

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News Oil 

Oil prices settle at lowest level in three weeks

“Oil prices settled Monday at their lowest level in three weeks, pressured by concerns over growing production from OPEC members and U.S. shale-oil producers” writes Markets Commodities Reporter for marketwatch.com. Separate reports from the Organization of the Petroleum Exporting Countries and the International Energy Agency last week showed a monthly rise in crude output from OPEC members.A report issued Monday from the Energy Information Administration also revealed expectations for a 117,000-barrel rise in next month’s U.S. shale-oil production. September West Texas Intermediate crude CLU7, -2.60% fell $1.23, or 2.5%, to…

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