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  • *Output from Saudi Arabia may also be rising- PIRA. LONDON, Feb 19- Brent crude oil prices fell below $59 a barrel on Thursday after U.S. government data showed crude stocks hit a record high last week. Benchmark Brent crude futures for April were down $1.83 at $58.70 by 1618 GMT, having hit an intraday low of $57.80 earlier in the session, extending declines from...

  • Boeing wins $403 mln upgrade deal for Japan govt Friday, 13 Feb 2015 | 7:09 PM ET

    WASHINGTON, Feb 13- Boeing Co has won a contract valued at $403 million to upgrade four 767- based airborne warning and control aircraft for the government of Japan, the Pentagon said in its daily list of major contract awards on Friday. The contract is a modification of an earlier award, and includes upgrades of four E-767 Japan Airborne Warning and Control...

  • NEW YORK, Feb 12- Crude oil futures climbed on Thursday, arresting a two-session losing streak, as industry spending cuts and a weaker dollar spurred buying. "Shell's CEO had a more bullish take on supply and demand and the weaker dollar also helped support crude," said Phil Flynn, analyst at Price Futures Group in Chicago. With the front-month March crude contract...

  • NEW YORK, Feb 12- Crude oil stockpiles at the Cushing, Oklahoma, delivery point rose by a record 3.2 million barrels since last Friday, according to oil services firm Genscape on Thursday, curbing U.S. crude oil futures' gains. By 11:28 a.m., prices were up just over 3 percent at $50.34 per barrel, having recouped some of the ground lost in the immediate aftermath of the...

  • LONDON, Feb 12- "Excessive oil and gas loan concentrations have been a key factor in the failure of some banks during periods of steep price declines," the Office of the Comptroller of the Currency notes with bureaucratic understatement in its handbook for U.S. bank examiners. The agency supervised the infamous Penn Square Bank in Oklahoma City, which was declared...

  • UPDATE 8-Oil falls towards $54 on record-high U.S. stocks Wednesday, 11 Feb 2015 | 10:56 AM ET

    LONDON, Feb 11- Oil fell more than $2 on Wednesday towards $54 a barrel after U.S. crude stock piles hit record highs. U.S. commercial crude oil stock piles rose by 4.9 million barrels last week to 417.93 million barrels, their highest since records began in 1982, the government-run Energy Information Administration reported on Wednesday. Brent crude futures...

  • ZUEHL, Texas, Feb 6- Texas rancher Jim Rackley would like to add more cattle to his herd of about 50 to take advantage of sizzling beef prices and growing demand from health-conscious consumers for his grass-fed beef. But the prospect of cloudless skies keeps him cautious. "Every time we think we're coming out of the drought, we get hit again,' said Rackley, a former high...

  • *Libya violence, Nigeria tanker attack raise supply worries. NEW YORK, Feb 5- Crude prices closed up more than 4 percent on Thursday as rising violence in producer Libya and an expected boost in oil demand from China's central bank easing helped the market rebound from a sharp rout in the previous session. "It is just a changing market sentiment as more and more...

  • *Libya violence, Nigeria tanker attack raise supply worries. NEW YORK, Feb 5- Crude prices closed up more than 4 percent on Thursday as rising violence in producer Libya and an expected boost in oil demand from China's central bank easing helped the market rebound from a sharp rout in the previous session. "It is just a changing market sentiment as more and more...

  • *China cuts bank reserve requirement to spur growth. NEW YORK, Feb 5- Oil was up about 6 percent on Thursday as rising violence in producing country Libya and an expected boost in oil demand from a central bank easing in China helped crude rebound from one of its sharpest daily routs ever in the previous session. "It is just a changing market sentiment as more and more...

  • *China cuts bank reserve requirement to spur growth. NEW YORK, Feb 5- Oil prices jumped about 5 percent on Thursday as falling output and rising violence in Libya, along with central bank easing in China, helped crude rebound from one of its sharpest daily routs ever in the previous session. "We're in something of a trading range, and we're going to get these sort of...

  • LONDON, Feb 4- Brent extended losses to fall below $56 a barrel on Wednesday, reversing a four session rally after U.S. crude inventories jumped to a record high, shifting the global glut back in to focus. The U.S. Energy Information Administration said U.S. crude stocks rose by 6.3 million barrels last week to 413.06 million barrels, the highest level since records...

  • SINGAPORE, Feb 3- U.S. crude futures held above $50 a barrel on Tuesday morning following sharp gains in the previous two sessions, with some investors betting that the bottom of a six-month rout has been reached. *U.S. crude futures gained 46 cents to $50.03 a barrel as of 0017 GMT. *Brent crude settled up $1.76, or 3.3 percent, at $54.75 a barrel, swinging between a...

  • Traders said oil services company Genscape estimated a stock build of 2.3 million barrels in the Cushing, Oklahoma, delivery point for U.S. crude last week, adding to already record-high inventories in the United States. "I don't think anything's changed fundamentally, except for the psychology of the market," said Chandravir Ahuja, an analyst at Kolmar Americas...

  • NEW YORK, Feb 2- Oil prices rose in volatile trading on Monday, with some investors betting a powerful rally from Friday had put a bottom to the seven-month long rout on the market even as others remained pessimistic. "People are very, very skittish," said analyst Chandravir Ahuja of Kolmar Americas Inc in Bridgeport, Connecticut. Benchmark Brent crude was up $1.45 at...

  • The U.S. Energy Information Administration plans on Wednesday to report official stock numbers for Cushing and other oil market data for the week ended on Friday. "We saw some strength in the market this morning, but that's being sold into," said Tariq Zahir, managing member of Tyche Capital Advisors in Laurel Hollow, New York. Benchmark Brent crude was up 70 cents at...

  • HOUSTON, Feb 1- Union workers took to picket lines on Sunday after strikes were called at nine U.S. refineries and chemical plants in a bid to pressure oil companies to agree to a new national contract covering workers at 63 plants. The United Steelworkers union said Royal Dutch Shell Plc, the lead industry negotiator, halted talks after the union rejected a fifth...

  • HOUSTON, Jan 31- Union leaders and oil companies were unable to agree on a new labor accord on Saturday for workers at 63 U.S. refineries as a deadline passed that could lead to a strike. Royal Dutch Shell Plc, the lead negotiator for U.S. refinery owners, has said it does not comment on details of labor negotiations. "We remain committed to resolving our differences...

  • The Exxon Mobil Corp refinery in Beaumont, Texas, received a strike notice on Friday night, according to the company. The Beaumont plant was the only Exxon refinery to receive a notice. Royal Dutch Shell Plc and Motiva Enterprises refineries have not received strike notices, a spokesman said on Saturday.

  • NEW YORK, Jan 29- Global oil prices firmed slightly on Thursday but not before U.S. crude hit a near six-year low and benchmark Brent pared gains on data showing fresh additions to already record-high U.S. oil inventories. But crude futures in New York fell to an April 2009 bottom by midmorning, and only rose toward the close on short-covering.