Markets News 

Amazon Bets on Band-Aids as Health Industry Braces for Shakeup

“Phyllis McCready, chief procurement officer for Northwell Health, said the New York health system has been meeting with Amazon for about a year” writes Robert Langreth for bloomberg.com. Deborah Templeton, chief of system support services at Geisinger Health System in Pennsylvania, says the system uses Amazon now on a limited basis for office supplies.The Internet giant is angling to become the go-to source for basic medical supplies such as latex gloves, bandages and sutures.But Amazon still must convince the health system that the cost of switching is worthwhile.Other companies that distribute…

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News 

Alibaba’s offline expansion widens to home furnishing with 15% stake purchase in Easyhome

“Founded in 1999, Beijing-based Easyhome is the second largest home improvement supplies and furniture chain operator in China” writes Emma Lee for technode.com. The Chinese tech titan announced today that it will invest approximately RMB 5.45 billion (around $866 million) for a 15% stake in Easyhome (居然之家), China’s leading home improvement supplies and furniture chain operator.The deal comes after aggressive offline expansion made by Alibaba under Jack Ma’s newly coined term “new retail”. Source: technode.com Share This:

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News Oil 

API data apparently show an increase in crude supplies

“The American Petroleum Institute reported Tuesday that U.S. crude supplies rose by 3.23 million barrels for the week ended Jan. 26, according to sources” writes Markets Reporter for marketwatch.com. Supply data from the Energy Information Administration will be released Wednesday morning. March crude CLH8, -2.39% traded at $64.09 a barrel in electronic trading versus the settlement price of $64.50 on the New York Mercantile Exchange. Source: marketwatch.com Share This:

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Markets News Oil 

Oil dips on higher US fuel supplies, but overall market remains supported

“Oil prices fell on Wednesday, weighed down by data that showed an increase in U.S. crude oil and gasoline inventories” reports foxbusiness.com. Brent crude oil futures were at $69.83 a barrel at 0444 GMT, down 13 cents from their last close.Amid these weakening indicators, traders are taking measures to protect themselves from a potential fall in crude prices.Gasoline stocks climbed by 4.1 million barrels, while refinery crude runs fell by 420,000 barrels per day.In the latest sign of robust global economic growth, Japanese manufacturing activity expanded at the fastest pace…

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News Oil 

U.S. oil prices log biggest 1-week decline in over a month

“Prices for U.S. benchmark crude finished with a loss on Friday, to suffer their largest one-week decline in more than a month” writes Markets Commodities Reporter for marketwatch.com. Concerns about growing U.S. crude production, along with expectations for a rise in domestic output to a record annual level, pressured prices despite data earlier this week that revealed U.S. crude supplies fell for a ninth week in a row.February West Texas Intermediate crude CLG8, -0.84% lost 58 cents, or 0.9%, to settle at $63.37 a barrel on the New York Mercantile…

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News Oil 

Oil prices sink 1%, head for biggest weekly loss since Oct.

“Oil prices took a sharp turn lower on Friday, as traders grew uneasy over record U.S. oil production” writes Markets Reporter for marketwatch.com. Brent crude for March LCOH8, -1.08% the global oil benchmark, gave up 67 cents, or 1%, to $68.64 a barrel on London’s ICE Futures exchange.Prices had settled little changed on Thursday, after the U.S. Energy Information Administration reported that domestic crude supplies dropped 6.9 million barrels for the week ended Jan. 12.Oil prices have been gaining on tighter global supplies, amid efforts by the Organization of the…

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News Oil Stocks 

Oil stable on threats of rebel attacks in Nigeria, falling U.S. crude stocks

“A supply report from the American Petroleum Institute on Wednesday presented a mixed picture, with inventories of gasoline and diesel rising and crude stocks falling” reports foxbusiness.com. Oil held steady above $69 a barrel on Thursday, supported by falling inventories of crude and threats of an attack on Nigeria’s petroleum industry, although a reported rise in U.S. fuel supplies weighed.Brent crude, the global benchmark, had slipped 7 cents to $69.31 by 0943 GMT. On Monday it hit $70.37, the highest since December 2014.U.S. crude was up 2 cents at $63.99…

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News Oil 

Oil retreats from 3-year high as traders await supply data

“Oil prices finished lower Tuesday, pulling back from three-year highs as traders awaited data due later this week on U.S. crude supplies and production” writes Christopher Alessi for marketwatch.com. Commitment to output cuts led by the Organization of the Petroleum Exporting Countries is “stronger than ever.” Even as oil prices see some “Tuesday profit-taking, the oil bears are having to throw in the towel,” Flynn said.Price Futures Group expects U.S. crude supplies to be down 3.5 million barrels.The oil market is sending signals that it “won’t raise production even as…

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News Oil 

China denies improper NK oil supplies after Trump criticism

“A South Korean newspaper said this week, citing unidentified officials, that ships believed to be Chinese transferred oil to North Korean vessels at sea” reports foxbusiness.com. The U.N. sanctions allow limited supplies of oil but prohibit transfers of any goods to North Korean vessels at sea.China on Friday denied violating U.N.-imposed limits on oil supplies to North Korea after U.S. President Donald Trump criticized Beijing for allowing oil to reach the North.Trump said on Twitter he was “very disappointed that China is allowing oil to go into North Korea.”. On…

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