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  • NEW YORK, Dec 31- Oil prices fell on Friday to a 5-1/ 2- year low and ended with their second-biggest annual decline ever, down by half since June under pressure from a global glut of crude. Oil prices have collapsed this year as the Organization of the Petroleum Exporting Countries opted to maintain the same level of output despite a global glut caused by expanding...

  • NEW YORK, Dec 31- Oil prices continued to decline on Wednesday as investors digested a government report showing slowly growing demand and an increasing supply glut at the U.S. oil storage hub at Cushing, Oklahoma. The Energy Information Association released data showing a larger than expected drop in the U.S. crude oil inventory, but a large build at Cushing,...

  • *Libyan fighting cuts OPEC output to six-month low. Brent February crude was down $1.25 at $56.65 a barrel at 11:09 a.m. EST, after dropping as low as $55.81, its weakest since May 2009. U.S. crude was down $1.02 at $52.92, off its $52.51 intraday low.

  • Crude inventories rose by 7.3 million barrels in the last week, according to Energy Information Administration data, surprising analysts who had expected a decrease of 2.3 million barrels. "It's a very bearish report and plays into the mantra of supply glut and it will be interesting to see if the price can test the lows in the $53 area as the year comes to a close,"...

  • BISMARCK, N.D., Dec 19- Tumbling U.S. oil markets approached an important if obscure milestone on Thursday, closing near a price that could trigger a $5.3 billion, two-year tax break for North Dakota oil drillers as soon as next summer. "We're really at the point where we could start calculating this," Ryan Rauschenberger, North Dakota's tax commissioner, said in an...

  • Despite Supreme Court suit, potpreneurs push ahead Monday, 22 Dec 2014 | 12:45 PM ET
    Kristin Brinckerhoff ponders the selection of marijuana at 3D Cannabis Center in Denver, Jan. 2, 2014.

    Attorneys general in neighboring states filed a Supreme Court lawsuit attempting to overturn parts of Colorado's historic marijuana law.

  • BISMARCK, N.D., Dec 19- Tumbling U.S. oil markets hit an important if obscure milestone on Thursday, closing for the first time at a price that could trigger a $5.3 billion, two-year tax break for North Dakota oil drillers as soon as next summer. "We're really at the point where we could start calculating this," Ryan Rauschenberger, North Dakota's tax commissioner, said...

  • NEW YORK, Dec 17- Crude oil jumped nearly 5 percent on Wednesday as important chart support prices held fast after nearly a week of selling, leading to technical buying that turned the market around abruptly. "I think it was triggered by some short-covering, and once it gets going it feeds upon itself," said John Saucer at Mobius Risk Group in Houston.

  • Two sides to cheap oil   Tuesday, 16 Dec 2014 | 2:18 PM ET
    Two sides to cheap oil

    Discussing the future of big oil producing states, with Former Oklahoma Governor Frank Keating of American Bankers Association.

  • HOUSTON, Dec 12- Banks are responding to tumbling crude prices by trimming the value of oil reserves tied to credit lines, possibly causing a cash crunch for some highly-leveraged U.S. exploration and production firms. But I don't think anybody is going to be able to add on significantly more debt, "said Christian Ledoux, a senior portfolio manager at San Antonio-...

  • Best-known is Continental Resources, which lifted its hedges in early November, when oil was trading at around $83 a barrel, leaving it unprotected as prices slipped another $20, the most dramatic drop since the 2008 crisis. Apache Corp and Whiting Petroleum are also exposed to lower prices and have underperformed some peers over the past two weeks.

  • *OPEC trims world oil demand forecast to 28.92 mln bpd. *Brent crude falls below $65/ bbl, lowest since Sept 2009. LONDON, Dec 10- Brent crude oil fell to a new five-year low below $65 a barrel on Wednesday on mounting signs of oversupply and lacklustre demand as global economic growth falters.

  • Health report card: Less smoking, too much eating Wednesday, 10 Dec 2014 | 12:01 AM ET
    obesity over weight health

    Life expectancy is up, smoking is down, and obesity rates are on the rise again according to the new edition of America's Health Rankings.

  • *U.S. crude for January delivery was down 57 cents at $63.25 a barrel by 0000 GMT. The contract gained 77 cents at the close on Tuesday after falling to as low as $62.25, its weakest since July 2009. *Brent crude settled 65 cents higher at $66.84 after dropping to $65.29, its lowest since September 2009.

  • Dec 9- Spirit AeroSystems Holdings Inc, an aircraft parts maker, said it will pay rival supplier Triumph Group Inc $160 million to take over its wings contract for two Gulfstream business jets. Triumph, based in Berwyn, Pennsylvania, said the deal would immediately add to its earnings and boost annual revenue by $250 million. Gulfstream, a unit of General Dynamics...

  • Dec 9- Aircraft fuselage maker Spirit AeroSystems Holdings Inc said it would pay aero parts supplier Triumph Group Inc $160 million to take its business that makes wings for two Gulfstream jets. Spirit will incur a loss of $1.45- $1.65 per share on the transaction, which is expected to close this year, the company said. Spirit put its Tulsa, Oklahoma operations,...

  • Oil and the banks: As prices fall, risks may rise Monday, 8 Dec 2014 | 4:09 PM ET

    Falling oil prices may be good news for consumers at the gas pumps, but they're bad news for some bankers in the oil patch.

  • And the state with the cheapest gasoline is... Friday, 5 Dec 2014 | 2:36 PM ET
    A gas station attendant fills a customer's vehicle in Turnersville, N.J., Dec. 4, 2014.

    The gap between the most and least expensive U.S. state in average gas prices is the widest in 10 years.

  • *Saudi Arabia sees price floor of around $60- WSJ. LONDON, Dec 4- Brent crude oil steadied around $70 a barrel on Thursday as investors searched for a stable price range after a near 40 percent fall since June. "If you look at what has happened in the last few days, we seem to be sitting around $70 a barrel," said Olivier Jakob, oil analyst at Petromatrix in Zug, Switzerland.

  • SINGAPORE, Dec 4- Brent crude rose above $70 a barrel on Thursday, gaining nearly a percent along with U.S. futures as a fall in crude stockpiles in the United States supported prices. The contract settled below $70 on Wednesday after a report suggested Saudi Arabia expected still lower prices for oil. Many analysts expect prices to head still lower after recent...