Markets News Oil 

Oil slips on worries about rising U.S. crude stockpiles

“Also Thursday, the International Energy Agency said global oil supply rose in September, while demand growth slowed” writes Georgi Kantchev for marketwatch.com. The fall in prices came after the American Petroleum Institute said late Wednesday that domestic crude inventories rose by 3.1 million barrels.On Wednesday, the EIA forecast total U.S. crude oil production would average 9.2 million barrels a day in 2017 and 9.9 million barrels a day in 2018, which would mark the highest annual average production in U.S. history.Oil prices fell Thursday following a report showing an increase…

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Crypto News 

GoldMint, Provider of Gold-Backed Cryptoassets, Launches ICO today!

“Today, on the 20th of September, GoldMint is launching its ICO. The GoldMint ICO will mark the birth of a new means of exchange for physical gold, with transactions leveraged over the blockchain based platform” reports newsbtc.com. It will also provide an electronic payment solution backed by physical gold and a system for gold-backed peer-to-peer lending.It covered the establishment of a method for the application of blockchain based technology to the development of resource industry projects.While meetings with gold stockpiles owners are still being held, an agreement between GoldMint and…

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Markets News Oil 

OPEC oil production falls for the first time since March

“OPEC has partnered with other producers, including Russia, to keep 1.8 million barrels a day of oil production off the market” writes Tom Dichristopher for cnbc.com. Crude oil stockpiles in the OECD, a group of mostly developed nations, stood at 195 million barrels above the five-year average in July, OPEC said.OPEC’s oil output fell in August for the first time since March as several key exporters in the group throttled back production according to a monthly tally released Tuesday. Source: cnbc.com Share This:

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News Oil 

EIA reports rise in U.S. crude supplies, but gasoline stockpiles fall

“Data from the U.S. Energy Information Administration Thursday showed that domestic crude supplies climbed by 4.6 million barrels for the week ended Sept. 1” writes Markets Commodities Reporter for marketwatch.com. Gasoline stockpiles were down 3.2 million barrels for the week, while distillate stockpiles edged down by 1.4 million barrels, according to the EIA. October crude CLV7, -0.28% fell 12 cents, or 0.2%, to $49.04 a barrel on the New York Mercantile Exchange. Source: marketwatch.com Share This:

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News Oil 

U.S. oil prices end lower, with WTI at a more than 1-month low

“U.S. oil prices finished Wednesday with a loss, at their lowest level in more than four weeks” writes Markets Commodities Reporter for marketwatch.com. The Energy Information Administration reported a bigger-than-expected weekly drop in U.S. crude supplies, but gasoline stockpiles were flat and traders expect next week’s government report to reveal the impact of Hurricane Harvey-related crude production and refinery shutdowns. October West Texas Intermediate crude CLV7, -1.08% fell 48 cents, or 1%, to settle at $45.96 a barrel on the New York Mercantile Exchange. Source: marketwatch.com Share This:

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News Oil Stocks 

Oil prices ease, with caution still in place even as U.S. stockpiles decline

“Oil prices eased on Thursday, stuck within the tight range traded for the past month, as investors remained cautious as to whether the glut in oil supplies was finally disappearing” writes Sarah Mcfarlane for marketwatch.com. Brent crude LCOV7, -0.46%  , the global oil benchmark, fell 14 cents, or 0.3%, to $52.43 a barrel on London’s ICE Futures exchange, within the $4 range traded since late July.U.S. stocks continued to draw for the eighth consecutive week, with data from the Energy Information Administration published Wednesday showing a fall of 3.3 million…

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News Oil 

EIA data show U.S. crude supplies down for the eighth straight week

“Data from the U.S. Energy Information Administration Wednesday showed that domestic crude supplies fell by 3.3 million barrels for the week ended Aug. 18, following declines in each of the last seven weeks” writes Markets Commodities Reporter for marketwatch.com. Gasoline stockpiles were down 1.2 million barrels for the week, while distillate stockpiles remained unchanged, according to the EIA. Prices for West Texas Intermediate crude edged up from their pre-supply data levels.October crude CLV7, +0.98% was up 18 cents, or 0.4%, at $48.01 a barrel on the New York Mercantile Exchange. Source:…

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Futures News Oil 

Oil pauses after bullish data sends price up 6% for the week so far

“Oil futures edged lower on Thursday after fresh gains in the U.S. amid bullish weekly data on both supplies and production” writes Jenny W for marketwatch.com. The Energy Information Administration said U.S. crude stockpiles fell a bigger-than-expected 7.2 million barrels last week, the fourth-straight drop.Crude demand by U.S. refiners will likely recede in September and October when seasonal maintenance work begins, Societe Generale noted.Meanwhile, long-term Chinese oil demand is expected to lose some steam as the country veers towards green energy and natural gas to power its massive population, said…

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News Oil 

Oil extends gains as EIA reports a second-straight weekly drop in U.S. crude supplies

“Oil prices extended their earlier gains Wednesday after data from the U.S. Energy Information Administration showed that domestic crude supplies dropped 7.6 million barrels for the week ended July 7” writes Markets Commodities Reporter for marketwatch.com. That topped a forecast for a decline of 2.6 million barrels by analysts surveyed by S&P Global Platts, but came in a bit less than the decline of 8.1 barrels reported by the American Petroleum Institute late Tuesday.Gasoline stockpiles also fell by 1.6 million barrels, but distillate stockpiles climbed by 3.1 million barrels last…

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News 

METALS-Copper down on rising stockpiles, strike threat curbs losses

“NICKEL: Nickel fell 0.8 percent to a one-week low of $9,105 adding to a 2.2 percent decline made in the previous session on plentiful supply from Indonesia and the Philippines” writes Finanzen Net Gmbh for businessinsider.com. “The supply side and disruptions are to some extent offsetting the more bearish news surrounding the stock increases.”.  Source: businessinsider.com Share This:

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