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  • *Concerns about Greece debt crisis, impact on Europe weigh on oil. "The decline in refinery utilization is also bearish for crude oil price, since any diminution in demand will cause the recent trend of crude oil inventory declines to reverse," said John Kilduff, partner at Again Capital LLC in New York. Brent August crude was down 90 cents at $62.80 a barrel, having...

  • NEW YORK, June 17- Magellan Midstream Partners LP, one of the ten largest U.S. oil pipeline companies, is considering opening an oil trading operation for the first time to enter a business that generates hundreds of millions of dollars a year for some of its rivals. Magellan may hire traders and acquire other assets related its existing pipeline and oil storage...

  • *World Bank cuts world growth outlook to 2.8 pct from 3 pct. The euro extended losses after International Monetary Fund spokesman Gerry Rice said "major differences" remained with Greece over an agreement to save the country from bankruptcy. "Oil continues to slip and slide when it gets bad news out of Greece," said Phil Flynn, analyst at Chicago- based Price Futures...

  • NEW YORK, June 10- Oil rallied for a second straight day on Wednesday, with U.S. crude nearing a one-month high and gasoline hitting its highest price since November, as a big U.S. stocks drawdown boosted the outlook for summer fuel demand. "There's no mistaking it: There's pretty good demand for both crude oil and gasoline in the United States now and it could stay this...

  • NEW YORK, June 10- Oil rallied for a second straight day on Wednesday as U.S. government data confirmed a big weekly drawdown in domestic crude stockpiles, although profit-taking by players who had bet on the draw pulled the market back from its highs. By 11:50 a.m. EST, global crude benchmark Brent was up 20 cents, or 0.3 percent, at $65.08 a barrel, from the session...

  • NEW YORK, June 4- Arcadia Petroleum Ltd, its Parnon Energy unit and two traders have reached a $16.5 million settlement of a U.S. class-action lawsuit accusing them of illegally manipulating the price of crude oil in early 2008.. It resolves charges by other traders that the companies, Arcadia trader Nicholas Wildgoose and Parnon trader James Dyer violated...

  • *OPEC expected to keep output target unchanged on Friday. OPEC, which pumps more than a third of the world's oil, is expected to reject any calls for output cuts, continuing to produce about 2 million barrels per day above demand. Crude oil futures, already volatile from the combination of a flighty dollar and the bearish mood over OPEC, briefly cut losses on the EIA...

  • *OPEC expected to keep output target unchanged on Friday. OPEC, which pumps more than a third of the world's oil, is expected to reject any calls for output cuts, continuing to produce about 2 million barrels per day above demand. Oil prices, already volatile from the combination of a flighty dollar and the bearish mood over OPEC, briefly cut losses on the EIA report...

  • NEW YORK, June 3- U.S. crude oil stockpiles fell for the fifth week in a row even as refinery operating rates eased, data from the Energy Information Administration showed on Wednesday. July crude was down 90 cents at $60.36 a barrel at 11:07 a.m. EDT, having swung from $59.69 to $61.43. Brent July crude was down $1.32 at $64.17, having traded from $63.74 to $65.40.

  • *Brent hit by dollar strength, expectation of no OPEC cuts. NEW YORK, June 1- Oil settled down as much as 1 percent on Monday, retreating from Friday's sharp rally on a strong dollar and concern over stubbornly high supplies as OPEC was expected to stick with robust production at its meeting this week. "OPEC continues to produce well above target, and also well above...

  • *Dollar strength, expectation of no OPEC cuts weighs on oil. NEW YORK, June 1- Oil prices fell more than 1 percent on Monday, retreating from the sharp rally of the previous session, on the impact of a strong dollar and worries of stubbornly high supplies as OPEC prepared to meet this week to stick to production targets. "OPEC continues to produce well above target, and...

  • U.S. gas prices edge up to $2.84 a gallon -survey Sunday, 31 May 2015 | 6:58 PM ET

    May 31- The average price of a gallon of regular-grade gasoline in the United States rose 4 cents from two weeks ago to $2.84 a gallon, which was the highest since Nov. 21, the Lundberg survey released on Sunday showed. The average price per gallon in the week ended May 29 was about 85 cents lower than a year ago. Nationally, among the panel of U.S. cities included in the...

  • Anheuser-Busch halts beer production to do this Friday, 29 May 2015 | 12:30 PM ET
    Beer giant Anheuser-Busch stopped production at its Georgia brewery this week to instead produce drinking water for those affected by a deadly bout of historic flooding and storms in Texas and Oklahoma.

    Anheuser-Busch stopped production at its Georgia brewery this week to instead produce drinking water for those affected by deadly floods.

  • A US workplace civil war that's at a tipping point Friday, 29 May 2015 | 10:00 AM ET
    Protesters march around the Capitol after participating in a rally against a "right-to-work" proposal, on Saturday, Feb. 28, 2015, in Madison, Wis.

    The US is split over right to work laws—literally. Exactly half of the 50 states are right-to-work states—the next will tip the balance.

  • Deadly storm leaves 23 dead, 8 missing Thursday, 28 May 2015 | 7:03 AM ET
    Deadly storm leaves 23 dead, 8 missing

    Severe storms ravaged Texas and Oklahoma over the Memorial Day weekend, leaving a deadly path of destruction in its wake. And last night a tornado struck an oil rig in the Texas Panhandle, injuring three people.

  • CHICAGO, May 22- U.S. chicken freezer inventories swelled to a nine-year high in April, led by record-setting leg quarter stocks, on rising production and export challenges partly tied to the bird flu spread in the United States, industry experts said after Friday's monthly cold storage report. The U.S. Department of Agriculture cold storage report for end of...

  • *Islamic State advances in Iraq, Syria raise supply worries. LONDON, May 22- Oil prices slipped on Friday as worries over the impact of war in the Middle East on crude supplies were outweighed by reports of profit-taking ahead of a long weekend. "No one wants to hold open positions ahead of a long weekend so books are being squared, bringing some consolidation," said...

  • *Islamic State advances in Iraq, Syria raise supply worries. LONDON, May 22- Oil prices steadied on Friday as worries over the impact on crude supplies of war in the Middle East were balanced by reports of profit-taking ahead of a long weekend. "No one wants to hold open positions ahead of a long weekend so books are being squared, bringing some consolidation," said...

  • *Coming up: Baker Hughes weekly U.S. rig data. SINGAPORE, May 22- Oil prices edged down on Friday after rising more than 2 percent in the previous session, buoyed by lower U.S. crude inventories and geopolitical tension in the Middle East. West Texas Intermediate for July delivery was at $60.61 a barrel by 0452 GMT, down 11 cents on the day but poised to post gains for the...

  • *Islamic State attacks in Iraq lend further support. NEW YORK, May 21- Oil prices jumped more than 2 percent on Thursday, giving Brent its biggest rally in more than a week, as draws reported in the Cushing delivery point for U.S. crude futures boosted optimism that a supply glut was easing. Fighting in Iraq that raised worries about the security of Middle East oil...