Category: Oil
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Oil rises on tighter OPEC supply, US jobs data
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Written by Ghislaine Lehr SINGAPORE (Reuters) – Oil prices rose on Wednesday as supplies from Russia and members of the Organization of the Petroleum Exporting Countries (OPEC) tightened, while data showing an unexpected increase in the number of job vacancies in the United States pointed to expanding economic activity and…
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Biden to Ban New Oil Drilling Over Vast Stretch of US Atlantic, Pacific Waters
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Breadcrumb links PMN works President Joe Biden is set to order a ban on new offshore oil and gas development across about 625 million acres of U.S. coastal land, ruling out the sale of drilling rights in Atlantic and Pacific waters as well as the eastern Gulf of Mexico. Article…
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US Chamber, oil industry sue Vermont over law requiring companies to pay for climate change damage
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Breadcrumb links PMN BMN Business Article writer: Associated Press Lisa Rathke and Michael Casey Published on January 3, 2025 • 3 minutes read You can save this article by registering for free here. Or log in if you have an account. FILE – A small tractor removes water from a…
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A race is on to clean up shorelines off Crimea after tons of oil spills from damaged Russian ships
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Breadcrumb links PMN BMN Business Article writer: Published on December 22, 2024 • 2 min read You can save this article by registering for free here. Or log in if you have an account. Article content Cleanup operations continued in the Kerch Strait near Russian-occupied Crimea on Sunday, a week…
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buy american oil or face heavy tariffs, eu told
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Donald Trump has threatened European Union member states with punitive tariffs if they fail to buy more US oil and gas, reviving the prospect of a renewed trans-Atlantic trade war. On Friday, the president-elect announced on social media: “I told the European Union that they must offset their massive deficit…
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Oil falls on demand growth concerns, robust dollar
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Written by Ghislaine Lehr SINGAPORE (Reuters) – Oil prices fell on Friday on concerns about demand growth in 2025, especially in China, the largest importer of crude, putting global oil standards on track to end the week down about three percent. Brent crude futures fell 33 cents, or 0.45 percent,…
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Trump Could ‘Revalue’ Bitcoin Like Oil In 1973: Top Economist
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in interview With Natalie Brunelle, Luke Gromen, renowned macroeconomic analyst and founder of FFTT LLC, shared his insights on the potential impact of former President Donald Trump on the price of Bitcoin. The discussion centered around Trump’s campaign promise that he would create a strategic stockpile of Bitcoin and its…
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Trump Could ‘Revalue’ Bitcoin Like Oil In 1973: Top Economist
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in interview With Natalie Brunelle, Luke Gromen, renowned macroeconomic analyst and founder of FFTT LLC, shared his insights on the potential impact of former President Donald Trump on the price of Bitcoin. The discussion centered around Trump’s campaign promise that he would create a strategic stockpile of Bitcoin and its…
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Trump’s low oil price promise is a risk and a boon for emerging markets
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Written by Rodrigo Campos and Libby George NEW YORK/LONDON (Reuters) – Donald Trump promised to “drill, baby, drill” to cut energy costs in half, a plan that sends shivers through the governments of emerging market oil producers worried about dollar yields and fills poorer importing countries with hope. In practice,…
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OPEC’s Dilemma: Another Year of Oil Supply Curbs or Price Slump
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Breadcrumb links BMN Business When OPEC+ ministers meet this weekend, they face an unpalatable choice: continue to limit oil supplies until 2025, or risk renewed price declines. Article writer: Bloomberg News Grant Smith Posted on November 27, 2024 • 4 minutes read You can save this article by registering for…
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Donald Trump warned not to pull out of Paris climate agreement—by the CEO of oil giant Exxon Mobil
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Donald Trump’s stunning re-election threatens to upend the business of the industry he swore to protect: Big Oil. If his incoming administration follows through with plans to once again withdraw the United States from the landmark 2015 Paris climate agreement — as a way to ease restrictions on fossil fuel…
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Chart Art: WTI Crude Oil (USOIL) Testing Mid-Range Area of Interest
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WTI prices appear to be stuck around the middle of their range at the moment! Is it about to bounce back to support soon or is it about to continue its climb to the top? Take a look at the near-term turning points I’m watching on the 4-hour time frame:…
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Chart Art: WTI Crude Oil (USOIL) Just Bounced From a Range Support. Now What?
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A rebound in crude oil prices has pushed West Texas Intermediate (USOIL) crude higher from a key technical support area. Will this cause USOIL to reconsider areas of highest interest? Let’s check the 4-hour time frame: West Texas Intermediate (USOIL) 4 hours Chart by TradingView If you read Thursday’s market…
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Bitcoin Supporter Says Crypto Will Surpass Gold And Oil
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This article is also available in Spanish. An OG Bitcoin backer has made a bold prediction that demand for Bitcoin will increase rapidly in the near future, reinforcing estimates by some cryptocurrency experts that BTC is on a path to reach a six-figure level. OG, short for “Original Gangster” or…
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Stocks climb, oil sinks at start of pivotal week: Markets wrap
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(Bloomberg) — There was a sense of relief in markets after Israeli retaliatory strikes against Iran averted oil facilities, with crude oil falling and stocks rising at the start of what appears to be a pivotal week for investors. Most read from Bloomberg Iran said its oil industry was operating…
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The Best High-Yield Oil Stock to Invest $1,000 in Right Now
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If you’re looking at oil and natural gas stocks, there’s one thing you should expect — volatility. Oil prices are known to fluctuate dramatically, and often quickly. Any investor who invests his money, whether it is $100, $1,000, or $100,000, should be prepared for periods of weakness because they will…
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Chart Art: WTI Crude Oil (USOIL) Triangle Pattern Forming!
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WTI bulls appear to be ready for another rally, as the energy commodity found support at the bottom of a newly formed triangle pattern. Can you go north from here? Here are the upside targets I see on the 4-hour time frame: West Texas Intermediate (USOIL) Chart by TradingView Is…
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The Secretive World of Russian Oil Tanker Insurance Revealed
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Breadcrumb Trail Links PMN Business One of the energy market’s open questions since Russia’s invasion of Ukraine has been who’s insuring the tankers moving Moscow’s petroleum against the risk of a catastrophic oil spill. Author of the article: Bloomberg News Alex Longley, Patrick Sykes and Alberto Nardelli Published Oct 22,…
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The Secretive World of Russian Oil Tanker Insurance Revealed
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Breadcrumb Trail Links PMN Business One of the energy market’s open questions since Russia’s invasion of Ukraine has been who’s insuring the tankers moving Moscow’s petroleum against the risk of a catastrophic oil spill. Author of the article: Bloomberg News Alex Longley, Patrick Sykes and Alberto Nardelli Published Oct 22,…