News Oil 

Oil prices hold gains after EIA reports a bigger-than-expected rise in U.S. crude supplies

“The Energy Information Administration reported Wednesday that domestic crude supplies rose by 3.6 million barrels for the week ended Feb. 8” writes Markets Commodities Reporter for marketwatch.com. March West Texas Intermediate crude CLH9, +1.96% was up $1.26, or 2.4%, at $54.36 a barrel on the New York Mercantile Exchange.Gasoline stockpiles edged up by 400,000 barrels last week, while distillate stockpiles were up 1.2 million barrels, according to the EIA. The S&P Global Platts survey had shown expectations for a supply rise of 800,000 barrels for gasoline, but distillates were expected…

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News Oil 

Oil prices ease on signs of U.S. supply build and a firmer buck

“U.S. benchmark West Texas Intermediate crude oil for March delivery US:CLG9 fell 9 cents, or 0.2%, at $53.57 a barrel” writes Rachel Koning Beals for marketwatch.com. Oil futures slipped Wednesday as industry data pointed at rising U.S. oil stockpiles and on the back of a stronger U.S. dollar, which tends to dent commodities priced in the currency.Front-month contract prices marked their lowest settlement on Tuesday — at $53.66 a barrel — since Jan. 29, according to FactSet data.The American Petroleum Institute, an industry group, released weekly inventory data late Tuesday…

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GBP News 

A matter of life and death? UK stockpiles drugs as no-deal Brexit feared

“For Nora, “this could be matter of life and death,” Elgarf told Reuters at her home in southwest London” writes Midwest Communications Inc for 95kqds.com. If everyone does what they are supposed to, we are confident the supply of medicines will continue uninterrupted whatever the Brexit outcome.”. Elgarf wants to stock up on the drugs in case supplies are hit but she can’t because they are only available on a monthly prescription.”Hospitals, pharmacies, (family doctor) surgeries and patients should not stockpile medicines at any point during this process,” health minister…

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News Oil 

U.S. crude stockpiles at a 2-month high, but prices stable due to concerns tied to Venezuela

“From Rachel Koning Beals : Crude prices ticked higher Friday, after flipping between losses and gains, as supply concerns tied to Venezuela outweighed a report showing a two-month high in U.S. crude stockpiles” reports etfdailynews.com. Meanwhile, the Energy Information Administration reported Thursday that domestic crude supplies climbed by 8 million barrels for the week ended Jan. 18, a two-month high.The U.S. imported about 17.7 million barrels of crude oil and petroleum products from Venezuela in October 2018, according to the Energy Information Administration.With the build, U.S. crude stockpiles are now about 8% above…

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News Oil Stocks 

Oil benchmarks split paths as traders eye U.S. stockpile surge, political crisis in Venezuela

“On Thursday, the Energy Information Administration reported that domestic crude supplies climbed by 8 million barrels for the week ended Jan. 18” writes Markets Commodities Reporter for marketwatch.com. The U.S. also threatened to impose sanctions on Venezuela’s oil industry that could further hobble the country’s exports.President Donald Trump Wednesday officially recognized opposition leader Juan Guaido as interim president of oil-rich Venezuela, and declared sitting president Nicolás Maduro as illegitimate. Source: marketwatch.com

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News Oil 

EIA reports little change to U.S. crude supply for a second week in a row

“The Energy Information Administration reported Friday that domestic crude supplies barely budged for the week ended Dec. 28, adding just 7,000 barrels to stand at 441.4 million barrels” writes Markets Commodities Reporter for marketwatch.com. Gasoline stockpiles, however, climbed by 6.9 million barrels last week, while distillate stockpiles rose 9.5 million barrels, according to the EIA. The S&P Global Platts survey had shown expectations for supply increases of 1.6 million barrels each for gasoline and distillate inventories.Analysts polled by S&P Global Platts expected the EIA, which delayed the release of its…

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News Oil 

Oil Dips Below $50 as Rising US Stockpiles, OPEC Indecision, Pounds Global Crude

“Data from the Energy Information Administration yesterday showed U.S. crude stocks rose by a bigger-than-expected 3.58 million barrels last week, the 10th consecutive gain and the longest streak since 2015, taking the total to just over 450 million barrels” writes Martin Baccardax for thestreet.com. Brent crude contracts for the same month, the global benchmark, were seen 79 cents lower at $57.97 per barrel.U.S. oil prices fell below $50 for the first time since in more than a year Thursday, as record domestic output and rising crude stockpiles continue to pressure world…

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News Oil 

Oil prices shift higher on dollar weakness, but 10th weekly rise in crude stockpiles limits gains

“A rise in U.S. crude supplies for a 10th week in a row, however, exacerbated expectations for a global inventory glut, limiting price gains for oil” writes Markets Commodities Reporter for marketwatch.com. At 450.5 million barrels, U.S. oil inventories are at their highest since Thanksgiving week in 2017 and “have climbed by more than 56 million barrels since mid-September,” he said.Oil futures shifted slightly higher on Wednesday, giving up earlier losses fed by a 10th straight weekly rise in U.S. crude stockpiles, as remarks from Federal Reserve Chairman Jerome Powell…

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News Oil 

EIA reports first weekly U.S. crude supply climb in six weeks

“The Energy Information Administration reported that domestic crude supplies rose by 1.9 million barrels for the week ended Sept. 21” writes Myra P for marketwatch.com. Gasoline stockpiles rose 1.5 million barrels for the week, while distillate stockpiles fell by 2.2 million barrels, according to the EIA. The S&P Global Platts survey had shown expectations for supply increases of 256,200 barrels in gasoline and 667,000 barrels in distillates.November crude CLX8, -0.54% fell 48 cents, or 0.7%, to $71.80 a barrel on the New York Mercantile Exchange. Source: marketwatch.com

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News Oil 

Oil Extends Gains as US Stockpiles Dip,Iran Sanctions Loom Ahead of OPEC Meeting

“That said, U.S. oil majors, as well as their peer, have failed to keep pace with the rise in global prices” writes Martin Baccardax for thestreet.com. Global oil prices rose for a third consecutive session Thursday as investors reacted to a sharp decline in U.S. crude stocks and re-set expectations for a worldwide supply ahead of a key meeting of OPEC ministers later this week in Algeria.Russia’s oil minister, Alexander Novak, will attend the meeting and told Reuters earlier this week that all options for the cartel, including increasing output…

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