News Oil 

Oil gains for the day, falls for the week; natural gas tallies weekly rise of 7.5%

“Oil rose Friday, as a modest rise in the U.S. oil-rig count from Baker Hughes BHGE, -1.16% fueled expectations that drilling activity has stabilized” writes Markets Commodities Reporter for marketwatch.com. Prices had traded lower for much of the session, and still lost roughly 1.5% for the week on lingering concerns over the global glut of crude supplies.Natural gas, meanwhile, tallied a weekly gain of 7.5%–the biggest such rise of the year–after U.S. supplies rose less than expected.September WTI crude CLU7, +0.47% climbed 23 cents, or 0.5%, to settle $48.82 a…

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News Oil 

Oil surges into the close to settle above $50, posts best monthly gain since April 2016

“U.S. crude oil surged into the close of trading to settle above the key psychological level of $50 a barrel” writes Tom Dichristopher for cnbc.com. Still, hedge funds and money managers have begun raising their bets that oil prices will rise in recent weeks.U.S. West Texas Intermediate crude ended Monday’s session up 46 cents at $50.17, its first close above $50 a barrel since May 24. The volume of bullish bets on U.S. crude mostly fell from the end of February through the end of June. Source: cnbc.com Share This:

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Markets News Oil 

RBC commodity chief: Look at emerging markets for oil demand growth

“Helima Croft, a managing director and the global head of commodity strategy at RBC Capital Markets, discusses the muted global oil market outlook” writes Kara Chin for businessinsider.com.au. She says governments worldwide will have to get used to oil locked in a range near $US50-55 a barrel as we shift from the period of peak oil to a new regime of peak demand.Croft recommends looking at emerging-market economies like India for oil demand growth, while also highlighting China as an expanding area. Source: businessinsider.com.au Share This:

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News Oil 

Oil settles lower as EIA sees rise in August U.S. shale-oil output

“Oil prices settled lower Monday pressured by a report from the Energy Information Administration that shows a monthly rise in U.S. shale-oil production” writes Markets Commodities Reporter for marketwatch.com. The government agency sees a climb of 113,000 barrels a day in August output from seven major shale plays, compared with July. Source: marketwatch.com Share This:

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News Oil 

EIA lowers oil price and U.S. output forecasts

“The EIA also lowered its 2017 forecast on Brent crude by 3.6% to $50.79 and its 2018 outlook by 7.2% to $51.58” writes Markets Commodities Reporter for marketwatch.com. The U.S. Energy Information Administration on Tuesday lowered its price forecasts on West Texas Intermediate and Brent crude oil for this year and next and cut its U.S. production outlook for 2018.In its monthly energy outlook report, the government agency forecast WTI prices at $48.95 a barrel for this year, down 3.6% from its June forecast. September Brent crude LCOU7, +1.73% added…

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Futures News Oil 

The oil price rollercoaster continues as prices plummet

“Large draws on US oil, in the neighbourhood of 6.3 million barrels, sent prices higher briefly on Thursday” writes Seth Archer for businessinsider.com.au. After a long streak of gains, oil prices are back to sliding lower. Get the latest Oil WTI price here.This continues a general slide since July 4, when WTI futures hit a high of $US47.23.This was the end of a multi-day rally which brought WTI futures from a low of $US42.19 on June 21. Source: businessinsider.com.au Share This:

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News Oil 

Oil suffers largest decline in a month, after 8-session rally

“Oil prices settled with a loss of more than 4% Wednesday–their largest such decline in a month” writes Markets Commodities Reporter for marketwatch.com. Prices pulled back on the heels of eight-straight sessions of gains on reports of a rise in monthly crude exports from the Organization of the Petroleum Exporting Countries and news that Russia has ruled out deeper OPEC-led production cuts. August WTI crude CLQ7, -4.23% fell $1.94, or 4.1%, to settle $45.13 a barrel on the New York Mercantile Exchange. Source: marketwatch.com Share This:

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News Oil 

Oil is on its longest rally in years

“A halt in new oil rigs and a decline in production have been fueling the rise” writes Finanzen Net Gmbh for businessinsider.com. Last week, the number of oil rigs fell for the first time in 24 weeks.West Texas Intermediate crude oil trades up 0.80% on Monday at $46.42 a barrel. Source: businessinsider.com Share This:

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News Oil Stocks 

European stocks start the week with a bang after oil prices jump

“Elsewhere, European indexes were helped by energy stocks, as well as banking and financial stocks” writes Will Martin for businessinsider.com.au. LONDON — Stocks across Europe popped on Monday, with energy companies rallying on the back of strong oil prices.Both Brent and WTI oil — the two most-watched benchmarks — popped after data pointed to moderating output in the USA. That should help recalibrate the supply/demand imbalance that has kept oil prices subdued for nearly three years.The FTSE’s gains were driven by major mining and commodity companies, which took heart from…

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