Category: Oil
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Oil smoked in a 4% decline. On track for the lowest close since 2021
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WTI Daily Crude The price of a barrel of WTI crude oil is now at $65. It fell 4% on the day, or $2.75, to $65.96, its worst level since May 2023. It has traded as low here on a handful of days in 2023, but if it finishes at…
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Oil prices up since opening for the week – potential hurricane getting narrative love
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Oil prices up since opening for the week – potential hurricane getting narrative love
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Singapore’s Oil Party Spoiled by Falling Prices and China Gloom
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Breadcrumbs Path Links PMN Business The oil party isn’t over yet – but for the top traders and executives gathering for talks and cocktails on rooftops in Singapore this week, the euphoria that came with the huge profits of recent years is fast fading. Article author: Bloomberg News Serene Cheung…
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Gulf of Mexico oil drilling faces threat from court ruling on endangered species
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Pera1 U.S. regulators are seeking to rewrite guidelines on how to protect endangered species in the Gulf of Mexico before a December deadline, which could lead to Threat to oil and gas production In an area that supplies 2 million barrels of oil per day, or about 15% of U.S.…
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Oil falls to the lowest in a year
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Crude oil WTI daily The oil market didn’t spend much time below $70 in the post-pandemic period, but after five days of heavy selling, it’s now at $67.29, the lowest since June 2023. Last year, we saw several dips to this range, all of them buys, including two intraday dips…
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Crude Oil Technical Analysis – Consolidation ahead of the US NFP report
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Basic Overview Last week was a tough one for crude oil as the price fell more than 6% on renewed growth concerns amid weak US data. OPEC+’s delay in increasing production from October did not spark a rally but helped slow the downward momentum. Much now depends on today’s US…
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Costly fuel looms on push for bigger oil dealer profits
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Kenyans are set to pay an extra Sh4.45 per litre of fuel if a proposal in a study commissioned by the Energy Regulatory Authority is adopted, raising concerns about pressure on cost-of-living measures. The study by consultants Corrent Technologies and Channel Consulting Limited proposes increasing margins offered to oil marketing…
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Stocks Tumble Most Since August Rout, Oil Slips: Markets Wrap
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(Bloomberg) — Asian stocks fell the most since Aug. 5, tracking a selloff in their U.S. counterparts driven by a sharp drop in Nvidia Corp. Most Read from Bloomberg Shares of Asian chipmakers fell amid renewed concerns about the AI craze, dragging the regional stock index down more than 2%.…
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Oil finishes the week sharply lower as the OPEC rumour mill begins
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WTI Weekly West Texas Intermediate crude had a poor end to the week, falling $2.33 to $73.57 on Friday. Oil prices rose sharply at the start of the week and remained in positive territory early today, but retreated when Reuters reported, citing sources, that OPEC still plans to start gradually…
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Oil finishes the week sharply lower as the OPEC rumour mill begins
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WTI Weekly West Texas Intermediate crude had a poor end to the week, falling $2.33 to $73.57 on Friday. Oil prices rose sharply at the start of the week and remained in positive territory early today, but retreated when Reuters reported, citing sources, that OPEC still plans to start gradually…
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Falcon Oil & Gas Ltd. – Spudding of Shenandoah South 2H in Exploration Permit 98
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This section is Partnership Content supplied The content in this section is supplied by GlobeNewswire for the purposes of distributing press releases on behalf of its clients. Postmedia has not reviewed the content. by GlobeNewswire Breadcrumb Trail Links GlobeNewswire Author of the article: Published Aug 30, 2024 • 7 minute…
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Crude oil turns higher on supply concerns from Libya, Iraq (NYSEARCA:USO)
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SlavkoSereda/iStock via Getty Images Crude oil futures rose on Thursday, rebounding from two days of declines, as supply disruptions in Libya and plans to cut production in Iraq raised concerns about tightening global supplies. More than half of Libya’s oil production is out of service, Exports have been halted at…
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Chart Art: WTI Crude Oil (USOIL) Aiming for Triangle Support Again?
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The top of the descending triangle has been acting as resistance for crude oil this week, putting the commodity back on track to test the bottom. Will the support continue again? Take a look at the nearby turning points I am watching on the 4-hour chart: Crude Oil WTI (USOIL)…
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Chart Art: WTI Crude Oil (USOIL) Aiming for Triangle Support Again?
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The top of the descending triangle has been acting as resistance for crude oil this week, putting the commodity back on track to test the bottom. Will the support continue again? Take a look at the nearby turning points I am watching on the 4-hour chart: Crude Oil WTI (USOIL)…
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Forexlive European FX news wrap 26 Aug – Libya halts oil production and exports
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Chart Art: WTI Crude Oil (USOIL) To Revisit Its Triangle Resistance?
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US crude oil prices continue to recover after revisiting August lows last week. How far can WTI crude oil go before sellers can gather enough downside momentum? We take a closer look at the potential resistance area: Crude Oil WTI (USOIL) 4 hours Chart by TradingView In case you missed…
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Morgan Stanley latest to cut oil demand growth forecast on China factors (NYSEARCA:USO)
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SlavkoSereda/iStock via Getty Images Crude oil futures settled higher on Friday but fell for the week as the market digested bullish U.S. inventory data and Federal Reserve Chairman Jerome Powell delivered his speech. Strongest signal yet The central bank will cut interest rates next month. Earlier this week, oil futures…