Futures Markets News Oil 

Oil threatens 3rd straight drop as buildup in U.S. supplies drags market lower

“That contradicted market expectations, as analysts surveyed by S&P Global Platts had forecast a decline of 1.7 million barrels” writes Markets Commodities Reporter for marketwatch.com. The EIA said domestic supplies of natural gas rose by 91 billion cubic feet for the week ended May 18.Natural-gas prices, meanwhile, headed higher following supply data from the EIA Thursday that generally met with market expectations.Oil prices fell sharply Thursday as traders dragged futures lower for a third straight session following a report of an unexpected build in weekly U.S. crude inventories a day…

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News Oil 

Oil prices drop on potential increase in OPEC output

“The Organization of Petroleum Exporting Countries (OPEC) may decide to increase oil output to make up reduced supply from Iran and Venezuela in response to concerns from Washington over a rally in oil prices, OPEC and oil industry sources told Reuters” writes Midwest Communications Inc for 95kqds.com. The group previously agreed to curb their output by about 1.8 million barrels per day to boost oil prices and clear a supply glut.SEOUL (Reuters) – Oil prices fell on Thursday on expectations that OPEC members will step up production in the face…

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News Oil 

Oil prices drop as weekly U.S. crude supplies jump unexpectedly

“Oil futures traded sharply lower Wednesday, pressured by a surprise jump in weekly U.S. crude supplies” writes Saefong William Watts for marketwatch.com. Early Wednesday, the U.S. Energy Information Administration reported that crude supplies climbed by 5.8 million barrels for the week ended May 18.July West Texas Intermediate crude CLN8, -1.00%  on the New York Mercantile Exchange fell 84 cents, or 1.2%, to $71.36 a barrel.OPEC has actually produced even less crude than the curbs would allow, in large part due to Venezuela’s deepening economic crisis. Source: marketwatch.com Share This:

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Markets News 

US iPhone sales grew a record 16% in Q1 despite 11% drop across market – Counterpoint

“In all, six of the ten best-selling smartphones in the country are iPhones (though Counterpoint breaks them down by storage tier, so the iPhone X and iPhone X both get two places, as seen below)” writes Apple Watch Series for 9to5mac.com. Earlier this month, Strategy Analytics echoed IDC in declaring the iPhone X the world’s best-selling smartphone, while Canalys reported that the iPhone X remained ‘comfortably’ the best-shipping smartphone in Europe.IDC figures showed that Apple managed to grow global iPhone sales in Q1 despite falling sales across the smartphone market as…

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Futures News 

Gold futures drop, head for over 2% weekly loss

“Gold futures dropped again Friday, deepening their weekly loss to about 2.6%, as a leading dollar index and benchmark Treasury yields sustained their march higher” writes Rachel Koning Beals for marketwatch.com. In exchange-traded action, the SPDR Gold Shares GLD, +0.06%  fell 0.3%, while the iShares Silver Trust SLV, +0.39% eased 0.3%.The U.S. dollar, as measured by the ICE U.S. Dollar Index DXY, +0.12% was up 0.1% at 93.59, trading at its highest levels of 2018, according to FactSet data.June gold GCM8, -0.19% fell by $3.20, or 0.2%, to $1,286.30 an…

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France registers drop in complaints about Forex and binaries, but concerns about cryptos grow

“Forex and binary options trading are among the main reasons for the complaints that the AMF ombudsman received in 2017” reports financefeeds.com. In the face of the law, illegal ads of toxic trading products were distributed across 140 websites.There were 566 complaints about binary options and Forex products received by the regulator in 2017, compared to 1,656 in 2015. Source: financefeeds.com Share This:

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IQVIA shares drop 4% after FDA raises ‘serious concerns’ with its data

“IQVIA shares have declined 4.2% over the last three months, compared with a 0.3% decline in the S&P 500 SPX, +0.44% and a 1.8% drop in the Dow Jones Industrial Average DJIA, +0.22%” writes Emma Court for marketwatch.com. But the error also extends to several other controlled substances, such as oxymorphone and hydrocodone, raising “serious concerns about systemic issues with IQVIA’s data and quality control procedures,” the FDA said.The FDA is asking IQVIA to hire a third-party auditor and give more insight into how its data is generated.In a Wednesday…

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Futures News 

Gold futures drop to lowest settlement of the year

“Gold dropped Tuesday to mark its lowest futures settlement since December, as a rally in the benchmark U.S. dollar index and a sharp rise in U.S. Treasury yields lured investors away from the precious metal” writes Markets Commodities Reporter for marketwatch.com. June gold GCM8, -2.12% fell $27.90, or 2.1%, to settle at $1,290.30 an ounce. Source: marketwatch.com Share This:

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