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  • *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...

  • Lower gas prices no windfall for these retailers Wednesday, 4 Feb 2015 | 3:02 PM ET
    A customer checks out at a Best Buy in Peoria, Ill.

    As oil prices fall, it becomes harder for energy companies to maintain profitability.

  • 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.

  • NEW YORK, Jan 29- U.S. crude oil fell below $44 a barrel for the first time since April 2009 on Thursday while benchmark Brent sharply pared early gains after data showing additions to already record-high U.S. oil inventories. But crude futures in New York were near a six-year low by midmorning after a report from oil services firm Genscape, which a market source...

  • NEW YORK, Jan 29- Global equity markets eased on Thursday on simmering worries over Greece's new anti-bailout government and the prospect for corporate earnings, but U.S. government debt prices fell on fresh signs of a strong American labor market. On Wall Street, Alibaba Group shares dropped 10.5 percent to $88.12 after its revenue missed expectations.

  • LONDON, Jan 29- U.S. commercial crude oil stocks last week hit their highest level since 1931- when the opening of giant oil fields in the United States coincided with the Great Depression to create an enormous glut and sent prices tumbling to just 13 cents per barrel. In October 1929, U.S. commercial crude stocks peaked at a staggering 545 million barrels, following...

  • The American Petroleum Institute said late on Tuesday that U.S. crude stocks jumped by a massive 12.7 million barrels last week, triple the volume expected, and including a 2 million barrel increase at Cushing, Oklahoma, the delivery point of the U.S. oil contract. If confirmed by official data from the U.S. Energy Information Administration at 1530 GMT on...

  • SEOUL, Jan 28- U.S. crude futures fell over 1.5 percent towards $45 a barrel in early Asian trade on Wednesday after data showed U.S. crude stocks surged by nearly 13 million barrels last week, with a global supply glut accumulating in storage tanks. *U.S. crude futures had dropped 73 cents to $45.50 a barrel by 0000 GMT after finishing the previous session finishing...

  • OPEC announced last November it would keep output steady at 30 million barrels a day, despite pleas from some members for it to cut output to support prices and revenues. Stuart Glickman, an equity analyst at S&P Capital IQ, said there was no indication OPEC would cut production soon. "It's a calculated bet that the shale producers in the U.S. can't withstand the pain...

  • *Partial shutdown of Indiana refinery pressures US crude. NEW YORK, Jan 23- Brent crude rose on Friday on uncertainty over Saudi oil output following the death of King Abdullah, while U.S. crude prices fell, with traders citing a reported build at the Cushing, Oklahoma storage hub and the partial shutdown of an Indiana refinery. Still, the transition should be...

  • *Yemeni President Abd-Rabbu Mansour Hadi resigns. NEW YORK, Jan 22- Crude oil prices pared early losses but still settled lower on Thursday after a government report showed the biggest build in U.S. crude inventory in at least 14 years. "The magnitude of the build in crude came as a surprise," said Andrew Lipow, president of Lipow Oil Associates.