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  • LONDON, Jan 28- Oil slipped to $49 a barrel on Wednesday as the dollar strengthened, while an industry report showing a larger-than-expected rise in U.S. crude inventories also pressured prices. "The key driver for oil prices in the last few days has been currency fluctuations... we had seen some weakness in the U.S. dollar which helped support prices overnight," Ric...

  • "The key driver for oil prices in the last few days has been currency fluctuations... we had seen some weakness in the U.S. dollar which helped support prices overnight," Ric Spooner, chief analyst at CMC Markets in Sydney said. Brent crude hit a low of $48.79 a barrel and was down 45 cents at $49.15 by 0717 GMT. U.S. crude was at $45.68 a barrel, down 55 cents, after earlier...

  • Research by Morgan Stanley, published on Jan. 25, said that oil and diesel made up between 9 and 12 percent of the total production costs for bulk commodities such as coal, iron ore and bauxite, but only 3 to 5 percent for metals. The spot price of iron ore in Asia dropped to a 5-1/ 2- year low of $62.80 a tonne on Tuesday, and is down 67 percent from its peak of $191.90 reached...

  • "The key driver for oil prices in the last few days has been currency fluctuations... we had seen some weakness in the U.S. dollar which help support prices overnight," Ric Spooner, chief analyst at CMC Markets in Sydney said. Brent crude hit a low of $48.79 a barrel and was down 68 cents at $48.92 by 0255 GMT. U.S. crude was at $45.41 a barrel, down 82 cents, after earlier...

  • 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...

  • CRUDE FUTURES PARE GAINS IN POST-SETTLEMENT TRADE ON API DATA SHOWING BIG CRUDE STOCK BUILD.

  • *Coming up: API weekly oil data at 2130 GMT. NEW YORK, Jan 27- Oil prices jumped as much 3 percent on Tuesday as a weaker dollar propped up commodities priced in the currency, prompting short-covering in a market that has sold off with little pause over the past seven months. The American Petroleum Institute, an industry group, will release its weekly inventory report...

  • NEW YORK, Jan 27- Oil rose more than 2 percent on Tuesday as a weaker dollar propped up commodities priced in the currency, prompting short-covering in a market that has sold off with little pause over the past seven months. The American Petroleum Institute, an industry group, will release its weekly inventory report at 2130 GMT. "It looks like crude is trying to...

  • Goldman's Cohn: Oil could go to $30 Tuesday, 27 Jan 2015 | 10:36 AM ET
    Gary Cohn, Goldman Sachs

    Goldman Sachs COO Gary Cohn told CNBC why he thinks oil could go even lower.

  • LONDON, Jan 27- Brent crude futures held above $48 on Tuesday as a weaker dollar offset the impact of a global supply glut, with traders questioning if the nearly 60 percent price fall since June has run its course. Brent hit $45.19 on Jan. 13, the lowest since 2009 and down from a June 2014 peak of $115.71, but has since traded in a narrow band of $47- $50.62.

  • Obama to propose oil drilling off Atlantic Coast Tuesday, 27 Jan 2015 | 9:07 AM ET
    Environmentalists fear another BF Deepwater Horizon oil spill disaster as the Obama administration is set to propose opening up offshore drilling on the east coast from Virginia to Georgia.

    The Obama administration will announce Tuesday a proposal to start drilling in Atlantic Coast waters, The New York Times reports.

  • BAGHDAD, Jan 27- Falling oil prices forced Iraq's cabinet on Tuesday to revise its draft 2105 budget, trimming its forecast for oil to $55 a barrel from $60.

  • The new shale frontier?  Tuesday, 27 Jan 2015 | 5:40 AM ET

    As top U.S. officials head to Saudi Arabia, CNBC's Hadley Gamble reports on Saudi Aramco and whether Saudi Arabia will be the "new frontier in shale production."

  • Could Russia see another 'junk' downgrade?  Tuesday, 27 Jan 2015 | 4:40 AM ET

    Luis Costa, head of CEEMEA FX and rates strategy at Citi, says that if oil continues to stay at low levels, it would be a "negative catalyst" for Russia's economy.

  • *Oil may have hit bottom, could rise soon, says OPEC's Badri. LONDON, Jan 27- Oil prices steadied above $48 a barrel on Tuesday, recovering from earlier losses as the dollar weakened against the euro. Prices were also supported after the Secretary-General of the Organization of the Petroleum Exporting Countries, Abdullah al-Badri, said oil prices may have bottomed...

  • UK economy slows: Reaction  Tuesday, 27 Jan 2015 | 4:30 AM ET

    Adam Chester, head of UK macroeconomics at Lloyds Bank, shares his thoughts on the latest GDP, data for the UK.

  • Record open interest points to Brent price support Tuesday, 27 Jan 2015 | 4:01 AM ET

    GRAPHIC: Brent open interest: http://link.reuters.com/das83w SINGAPORE, Jan 27- Weekly investor interest in Brent crude futures rose to a record in January, stirring talk positions are being built in the market for a price rebound in a benchmark that has suffered a 60 percent slump since the middle of last year. Brent's open interest on the Intercontinental...

  • SINGAPORE, Jan 27- U.S. exports of condensate have been given an important boost after pipeline company Enterprise Products Partners LP agreed annual contracts with at least two major trading companies to sell the light crude, trade sources said. Oil producers have been pressing to lift a 40- year-old U.S. ban on crude exports and the Department of Commerce...

  • SILUANOV SAYS ANTI-CRISIS PLAN CONSISTENT WITH AIM OF BALANCING BUDGET BY 2017 WITH OIL AT $70 A BARREL.

  • HOUSTON, Jan 27- Collapsing crude prices are confronting scores of smaller U.S. oil producers with the grim choice of either shutting older high-cost wells or burning through cash in the hope of riding out the downturn. As oil prices fell by more than half over the last six months from more than $100 per barrel, the U.S. oil industry responded by slowing its...