News Oil 

Crude prices spike after attack on Saudi oil facilities

“Brent crude prices shot up late Sunday following Saturday’s attack on Saudi Arabian oil facilities” writes Mike Murphy for marketwatch.com. November Brent crude BRNX19, +12.30% was last up more than $7 a barrel, or 12%, to $67.41, after initially spiking as much as 18%.The attacks shut down about half of Saudi oil production, and while the kingdom said that it expects to have aboutone-third of that back online by Monday, experts said it could take weeks to get back to full capacity. Prominent crude-oil strategist Phil Flynn at Price Futures…

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News Oil 

Oil drifts higher, but crude set for weekly stumble amid worries about rise in supplies

“However, evidence of rising supplies and concern that more crude may come on line has been a key bearish drag” writes Markets Commodities Reporter for marketwatch.com. Oil futures inched higher Friday, but both U.S. and international benchmark crude were headed for sharp weekly falls as worries about the prospect of rising inventories appeared to overshadow a momentary U.S.-China tariff detente.Eastern Time, after the report last Friday showed the number of active U.S. rigs drilling for oil declined by four to 738.November Brent crude BRNX19, +0.38% gained 24 cents, or 0.4%,…

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GBP News 

Sainsbury’s boss: No-deal Brexit will inevitably hit supplies

“LONDON (Reuters) – A no-deal Brexit would “inevitably disrupt” fresh food supplies in Britain because delays at ports would throw just-in-time deliveries into chaos, the chief executive of supermarket group Sainsbury’s said on Friday” writes Midwest Communications Inc for 95kqds.com. Asked if plans were in place that meant disruption to food supplies could be ruled out, Coupe told BBC radio : “I disagree with that wholeheartedly, the reality is there will inevitably be disruption, simply because we’ve never done this before.”. Other supermarket bosses said on Thursday that Britain was…

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Markets News 

Gold treads water as trade optimism lifts risk assets

“The World Gold Council (WGC) on Thursday published a set of guidelines for gold miners, responding to rising pressure from consumers, NGOs and governments to ensure the gold market is free from criminality, rights abuses and benefits local communities” reports cnbc.com. Gold prices were little changed on Friday, on track for a third weekly decline as optimism over the U.S.-China trade talk fanned risk sentiment, while palladium hovered around a record peak on concerns about tight supplies of the autocatalyst metal.Asian equities rose, with MSCI’s broadest index of Asia-Pacific shares…

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News 

China says pork supply will be enough for upcoming holidays

“BEIJING (Reuters) – China, the world’s top pork consumer, will secure sufficient supplies of the meat for upcoming holidays, including the Lunar New Year in late January, said an official on Wednesday, as concerns grow over a looming shortage and soaring prices” writes Midwest Communications Inc for 95kqds.com. China’s pig herd has shrunk by a third following a severe outbreak of deadly African swine fever, and pork prices have surged since June on tightening supplies. Source: 95kqds.com

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News Oil 

Oil prices hold gains as EIA reports a 6.9 million-barrel weekly fall in U.S. crude supplies

“The EIA data showed weekly supply decline of 700,000 barrels for gasoline, while distillate stockpiles climbed by 2.7 million barrels” writes Markets Commodities Reporter for marketwatch.com. The Energy Information Administration on Wednesday reported that U.S. crude supplies fell by 6.9 million barrels for the week ended Sept. 6.On average, analysts polled by S&P Global Platts forecast a fall of 3.6 million barrels, while the American Petroleum Institute on Tuesday reported a drop of 7.2 million barrels, according to sources.The S&P Global Platts survey had forecast an inventory loss of 1.4…

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News Oil 

U.S. oil prices fall as weaker demand outlook outweighs support from 4th-weekly drop in U.S. supplies

“U.S. oil futures edged lower Wednesday, pressured by a weaker demand outlook from OPEC, despite a fourth straight weekly decline in U.S. crude supplies” writes Saefong William Watts for marketwatch.com. On Wednesday, the Energy Information Administration reported that U.S. crude supplies fell by 6.9 million barrels for the week ended Sept. 6.The EIA data showed weekly supply decline of 700,000 barrels for gasoline, while distillate stockpiles climbed by 2.7 million barrels.That marked a fourth weekly decline in a row. Source: marketwatch.com

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News 

Relief efforts ramp up amid fear of ‘staggering’ death toll in storm ravaged Bahamas

“The United Nations estimated 70,000 people were in “immediate need of life-saving assistance” such as food, water and shelter” writes Midwest Communications Inc for 95kqds.com. The American Red Cross said it had committed an initial $2 million help the Bahamas recover from the hurricane, with food, water and shelter and other necessities.Relief groups were focusing on getting doctors, nurses and medical supplies into the hardest-hit areas and helping survivors get food and safe drinking water. Source: 95kqds.com

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News Oil 

U.S. oil edges up as investors weigh rise in supplies and Sino-American trade progress

“Gasoline supplies are forecast to fall by 1.9 million barrels, while distillate stockpiles are seen lower by 120,000 barrels” writes Mark Decambre for marketwatch.com. The American Petroleum Institute reported U.S. crude supplies rose by 401,000 barrels for the week ended Aug. 30, according to sources.U.S. oil futures were trading slightly higher on Thursday, even as a late-Wednesday inventory report showed that domestic supplies were growing.Tentative optimism on the Sino-American trade front was providing some lift to international oil, with hope that progress in tariff negotiations might ease concerns about a…

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News Oil 

Oil pops higher on forecast for shrinking U.S. inventories

“Hope of weakening U.S. supplies and some upbeat developments in Asia have helped underpin buying in risky assets, including oil and U.S. stocks” writes Markets Commodities Reporter for marketwatch.com. A Bloomberg survey indicated that the U.S. supplies last week fell 3.45 million barrels in the week ended Aug. 30.Oil futures rebounded Wednesday morning, along with a global rally in assets perceived as risky, as investors focused on a geopolitical optimism and forecasts for shrinking U.S. supplies ahead of more closely followed weekly inventory reports.Still, some crude investors remain worried that…

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