Futures Markets News Oil 

Oil struggles to build on last week’s gains

“Oil futures edged lower in quiet trade Monday, as bulls struggle to build on gains seen last week on rising optimism over prospects for a so-called phase one U.S.-China trade deal” writes Deputy Markets Editor for marketwatch.com. In other energy trade, December gasoline RBZ19, -0.85%  was off 0.4% at $1.6284 a gallon, while December heating oil HOZ19, -0.88%  was off 0.4% at $1.9395 a gallon.Overall, oil appears to be correlating with the equity market, said Robert Yawger, director of energy at Mizuho Securities U.S.A. Major U.S. equity indexes ended at…

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Markets News Oil 

Oil prices flat with markets on hold for progress in US-China trade talks

“An employee holds a control panel as barrels are filled with lubricant oil in Torzhok, Russia, on March 21, 2014” reports cnbc.com. “The market sees a trade deal between the U.S. and China as more feasible, which is bullish for oil.”. Oil prices were little changed on Monday following steady gains in the previous week with investors awaiting fresh clues over prospects for a trade deal between the United States and China, shrugging off concerns over steadily rising oil supplies.China and United States had “constructive talks” on trade in a…

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News Oil 

Saudi Aramco’s IPO is set to value the oil giant at up to $1.7 trillion

“The figure implies that the oil giant is worth between $1.6 trillion to $1.7 trillion” writes Matt Clinch for cnbc.com. Saudi Arabia’s state oil giant could be valued at up to $1.7 trillion, according to a price range announced Sunday for its upcoming listing, less than the $2 trillion figure the kingdom’s crown prince had previously targeted.Analysts’ valuations of the company have varied from $1.2 trillion to $2.3 trillion.Saudi Aramco said in a press statement Sunday morning that it’s hoping to sell a 1.5% stake in the company, or about…

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News Oil 

Here’s how the natural gas and oil industry is changing communities across the US

“Here’s how the natural gas and oil industry is having a positive impact on communities across the country” writes unknown author for businessinsider.com. This type of success story, an American achieving financial success because of the natural gas and oil industry, is not uncommon.These are just some of the many communities that are benefiting from the natural gas and oil industry.Thanks to new drilling techniques, like hydraulic fracturing, the US is the No. 1 natural gas and oil producer in the world.Now, Red Wing Shoes provides shoes to natural gas…

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News Oil 

Baker Hughes data show a fourth consecutive weekly decline in the U.S. oil-rig count

“Baker Hughes BKR, +4.23% on Friday reported that the number of active U.S. rigs drilling for oil fell by 10 to 674 this week” writes Markets Commodities Reporter for marketwatch.com. That followed declines in each of the last three weeks. Oil prices continued their climb, with December West Texas Intermediate crude CLZ19, +1.60% was up 97 cents, or 1.7%, at $57.74 a barrel-little changed from before the rig data. Source: marketwatch.com

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News Oil 

Wider use of prescription-strength fish oil backed by FDA panel

“Government health experts on Thursday recommended broader use of a prescription-strength fish oil drug to help many more patients at risk for heart attack, stroke and related health problems” writes Associated Press for nbcnews.com. Millions of Americans take over-the-counter fish oil supplements for their presumed health benefits.Amarin has long tried to differentiate its drug from non-prescription fish oil supplements.The results, published last year, came as a surprise because a string of past studies of fish oil failed to show a positive impact on heart health. Source: nbcnews.com

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News Oil 

Oil on track for weekly loss on expectations for ample supply

“Oil futures inched a bit higher on Friday, but remained on track for a weekly loss, as traders focused on signs of ample crude supply” writes Deputy Markets Editor for marketwatch.com. The IEA said it expects non-OPEC supply growth to rise to 2.3 million barrels a day next year, up from its previous estimate of 2.2 million barrels a day, with the set to continue leading the way.December gasoline RBZ19, +0.46%  was up 0.3% at $1.6208 a gallon, with prices looking at a loss of 0.8% for the week, while…

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News Oil Reviews 

Oil Daily Review November 15, 2019

Oil Daily Review for November 15, 2019 United States EIA Crude Oil Stocks Change above forecasts (1.649M) in November 8: Actual (2.219M) United States EIA Crude Oil Stocks Change above forecasts (1.649M) in November 8: Actual (2.219M)   EIA reports weekly increases in U.S. crude-oil and gasoline supplies The Energy Information Administration on Thursday reported that U.S. crude supplies rose by 2.2 million barrels for the week ended Nov. 8. Data were released…   OPEC trims forecast for U.S. oil production growth in 2020 The Organization of the Petroleum Exporting…

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