News Oil Stocks 

Oil prices fall for 3rd day as US inventory build-up weighs

“Over the past couple of years, U.S. producers have gained significant inroads in the global oil market industry.”” reports foxbusiness.com. Analysts polled by Reuters forecast an average 100,000-barrel build in crude stocks.U.S. Energy Department data on Wednesday is likely to show an increase in increase in inventories for the first time 11 weeks.A report from the American Petroleum Institute late on Tuesday showing crude stocks rose by 3.2 million barrels last week cast a further bearish pall over the market.Oil prices fell for a third day on Wednesday after data…

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Oil prices settle higher as Saudi comments raise potential for output-cut extension

“February West Texas Intermediate crude CLG8, +0.46% which expired at the settlement, rose 25 cents, or 0.4%, to settle at $63.62 a barrel on the New York Mercantile Exchange” writes Markets Commodities Reporter for marketwatch.com. March WTI crude CLH8, +0.41% which is now the front-month futures contract, settled at $63.57 a barrel, up 26 cents, or 0.4%. Source: marketwatch.com Share This:

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Oil prices fall as U.S. output rise outweighs crude stock falls

“In the United States, crude inventories fell 6.9 million barrels in the week to Jan. 12, to 412.65 million barrels” reports foxbusiness.com. U.S. crude oil production stood at 9.75 million barrels per day (bpd) on Jan. 12, data from the Energy Information Administration showed.Brent crude futures were at $68.70 a barrel at 0949 GMT, down 61 cents from their last close.U.S. West Texas Intermediate (WTI) crude futures were at $63.38 a barrel, down 57 cents from their last settlement. Source: foxbusiness.com Share This:

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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 

Crude could get to $74 this year, but not before a pullback, says the trader who called the rally

“At this particular point I think you should be selling some of your crude,” Redler said Tuesday” writes unknown author for cnbc.com. The energy sector followed crude oil prices higher in 2018 and has topped the rest of the market as the best performer.Compliance among OPEC in reducing output and signs of increased global demand have supported crude prices this year.Crude oil pulled back slightly on Tuesday, ending 0.6 percent lower at $63.73 a barrel.His bullish case through the end of 2017 was tied to a “descending trend line” and…

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Markets News Oil 

Oil prices drop off three-year highs but strong demand supports

“Prices have been driven up by oil production curbs in OPEC nations and Russia, and demand amid healthy economic growth” reports foxbusiness.com. Oil prices dropped off three-year highs on Tuesday as traders booked profits but healthy demand underpinned prices near $70 per barrel, a level not seen since the market slump in 2014.The global benchmark hit a peak of $70.37 on Monday, matching a high from December 2014 at the start of a three-year market decline. Source: foxbusiness.com Share This:

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Crypto Futures News Oil Stocks 

Dow on track for 200-point jump, putting 26,000 within reach

“U.S. stock futures on Tuesday point to a jump at the open, with Dow futures rising by more than 200 points and putting the blue-chip gauge on track for a fresh record near the 26,000 level” reports marketwatch.com. Bitcoin’s spot price is tumbling on Tuesday, touching a six-week low near $11,000, as the biggest cryptocurrencies come under pressure across the board.But it may not be too late to ride the rally — you just have to buy energy stocks instead, strategists at J.P. Morgan says. Source: marketwatch.com Share This:

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