Oil and Gas
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CHENNAI, India, May 20- Brent crude futures held below $105 per barrel on Monday supported by positive economic data and strong equity markets, while a moderate outlook for demand and ample supplies dragged on prices. "The oil market is getting into what I think will prove to be the top-end of the range," said Ric Spooner, chief market analyst at CMC Markets in Sydney.
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PERTH, May 20- U.S. crude futures were steady in early Asian trading on Monday, holding above $96 a barrel after rallying last week on positive economic data in top oil consumer the United States. *U.S. oil rose 9 cents to $96.11 a barrel by 0047 GMT.
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May 19- The price of a gallon of gasoline in the United States rose sharply in the last two weeks amid outages at Midwest and West Coast refineries, according to a widely followed survey released on Sunday.
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May 18- Texas has joined the crowd of Gulf of Mexico states to file suit against BP Plc, Halliburton Co and others for their role in one of the worst oil spills in U.S. history. Texas joins four other states that have sued BP and other companies in connection to the spill: Florida and Mississippi filed complaints last month, while Alabama and Louisiana did in 2010..
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The world’s largest asset manager is far from being an activist investor, but it is starting to ask more questions, the New York Times reports.
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*Freeport first project approved since 2011.
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You say the name of a stock, and Mad Money's Jim Cramer tells you whether to buy or sell.
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LONDON/ WASHINGTON, May 17- A European probe into possible oil price manipulation expanded with the investigation of a small niche trading house in the Netherlands and a key U.S. senator on Friday called for the Justice Department to join the investigation.
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WASHINGTON, May 16- The chairman of the U.S. Senate's energy committee asked the Justice Department on Friday to investigate whether alleged price manipulation by three oil companies in Europe has boosted fuel prices for U.S. consumers.
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NEW YORK, May 17- Oil climbed for a third straight session on Friday, supported by a raft of strong economic data from top oil consumer the United States that also boosted U.S. equities, although a strong dollar limited gains in oil prices.
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The approval of natural gas exports from Freeport LNG's Quintana Island, Texas, terminal ends nearly a two-year pause in the Energy Department's review of export applications, as the administration sought to address concerns that sending U.S. gas abroad could harm U.S. manufacturers.
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May 17- The U.S. Federal Trade Commission on Friday said it approved Tesoro Corp's purchase of BP Plc's 240,000 barrel per day Los Angles area refinery and other assets in a 3-0 vote. The commission found the deal would not substantially lessen competition among seven refiners for gasoline in California, the nation's largest gasoline market.
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NEW YORK, May 17- Oil climbed for a third straight session on Friday, supported by a raft of strong economic data from top oil consumer the United States that boosted U.S. equities, although a strong dollar limited gains in oil prices.
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LONDON, May 17- European policymakers face a difficult decision on building carbon capture and storage- saving money in the long run requires spending more upfront. CCS captures carbon dioxide emissions from a fossil fuel power plant and then pipes it to an underground storage site such as a depleted gas or oil reservoir.
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*European Commission has raided pricing agency Platts. The mid-sized trading company, which deals in physical oil products and owns storage facilities, was visited by inspectors from the European Commission on Tuesday.
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CHEYENNE, Wyo.-- Wyoming officials worry that Interior Department rules for hydraulic fracturing on federal land might unnecessarily duplicate the state's existing regulations for the practice which has revolutionized oil and gas development while facing criticism from some as a potential threat to clean groundwater.
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MEXICO CITY, May 17- Mexico's annual growth slumped sharply at the start of 2013 to its weakest in three years despite unexpected strength in the services sector, backing expectations of a further interest rate cut later in 2013..
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LONDON, May 17- Budgets are made to be broken- especially when they are written by politicians. The shares of petroleum and mining companies listed on New York, London and other stock exchanges value them as if all these resources will be extracted and burned.
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*Iraq- Turkey oil pipeline stops again- source. LONDON, May 17- Oil climbed towards $105 a barrel on Friday, rebounding from an earlier decline and heading for a small weekly gain, although concern about the strength of demand growth limited the rise.
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HOUSTON-- Southwestern Energy has closed on the purchase of about 162,000 acres of land in Pennsylvania. The Marcellus Shale, a massive underground gas reserve stretching from New York across Pennsylvania and West Virginia to Ohio. Southwestern Energy Co., based in Houston, financed the deal with existing debt.