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Energy Commodities Oil

  • Brent crude was up 34 cents, or 0.7 percent, at $52.85 at 0358 GMT. Since the beginning of March, crude prices have swung from over $56 a barrel to under $47 as market participants were divided over the impact of rising output from the United States versus production cuts by the Organization of Petroleum Exporting Countries and other countries, including Russia.

  • U.S. crude oil was up 32 cents, or 0.7 percent, at $49.67 a barrel, after finishing the previous session at $49.35 a barrel, the highest close since April 26. Oil prices have been trapped in a tight range in recent weeks as rising U.S. production has erased the effects of output cuts by the Organization of Petroleum Exporting Countries and other countries, including...

  • A worker checks the valve of an oil pipe at Nahr Bin Umar oil field, north of Basra, Iraq.

    Oil prices were heading for a second week of gains on growing expectations that exporters will extend output cuts.

  • Oil prices have been trapped in a tight range in recent weeks as rising U.S. production has erased the effects of output cuts by the Organization of Petroleum Exporting Countries and other countries, including Russia. But market watchers are growing more confident that OPEC, Russia and other big producers will extend cuts of almost 1.8 million barrels per day...

  • OPEC to go for 'shock and awe tactics'

    Virendra Chauhan, Energy Aspects, says OPEC is unlikely to simply roll over production cuts as the markets will not buy into it.

  • Deepwater drilling is back to challenge shale, says Wood Mackenzie.

    Oil prices may be about to recover and several analysts have highlighted the energy sector as a potential play for investors.

  • Men use their smartphones to follow election news as posters of Iran's President Hassan Rouhani are seen in Tehran, Iran May 17, 2017.

    President Hassan Rouhani is leading in polls, but many voters are undecided and his rival's populist economic message is resonating.

  • *Canadian dollar at C $1.3613, or 73.46 U.S. cents. TORONTO, May 18- The Canadian dollar edged lower on Thursday against its U.S. counterpart as oil prices fell, while political uncertainty in Washington weighed further on stocks. signs that the market remained well supplied with crude despite efforts by the Organization of the Petroleum Exporting Countries and...

  • *Record volumes of U.S., North Sea oil being shipped to Asia. SINGAPORE, May 18- Oil prices dipped on Thursday, weighed down by plentiful supply despite ongoing efforts led by OPEC to tighten the market by cutting production. Brent crude was down 11 cents, or 0.2 percent, from its last close at $52.10 per barrel at 0644 GMT.

  • *Record volumes of U.S., North Sea oil being shipped to Asia. SINGAPORE, May 18- Oil prices dipped on Thursday, weighed down by plentiful supply despite ongoing efforts led by OPEC to tighten the market by cutting production. Brent crude was down 18 cents, or 0.3 percent, from its last close at $52.03 per barrel at 0244 GMT.

  • Oil jack pumps are pictured in the Kern River oil field in Bakersfield, Calif.

    Oil prices rose as consensus formed among exporters to extend production cuts for another nine months.

  • *Record volumes of U.S., North Sea oil being shipped to Asia. SINGAPORE, May 18- Oil prices dipped on Thursday, weighed down by plentiful supplies despite an ongoing effort led by OPEC to cut production in order to tighten the market and prop up prices. Brent crude futures were down 21 cents, or 0.4 percent, from their last close at $52 per barrel at 0148 GMT.

  • Oil workers make a pipe connection on a drilling rig near Encinal, Texas.

    The current oil price structure somewhat benefits OPEC's competitors, said Jeffrey Currie, head of commodity research at Goldman Sachs.

  • David Lesar, chief executive officer of Halliburton.

    Lesar will stay on as executive chairman of the world's second-largest oilfield service provider until December 2018.

  • *Prospects of OPEC- led supply cut deal extension supports prices. New York, May 17- Oil prices settled at a two-week high on Wednesday after U.S crude inventories declined for the sixth straight week, a positive sign for markets ahead of next week's OPEC meeting, where major oil producers are expected to extend supply cuts. Brent crude settled 56 cents firmer at...

  • Jeffrey Currie, Goldman Sachs

    Jeffrey Currie, Goldman Sachs Head of Commodities Research, weighs in on OPEC, oil and gold.

  • Conoco Phillips Bayu Undan Timor in Sea, Australia

    Jefferies raises its rating on ConocoPhillips to buy from hold due to the likelihood of increasing share buybacks and dividends.

  • *Prospects of OPEC- led supply cut deal extension supports prices. New York, May 17- Oil prices rose on Wednesday after U.S. government data showed a decline in domestic crude inventories and strong refining activity in the world's largest oil consumer, ahead of next week's meeting of major oil producers. Brent crude rose 87 cents and stood at $52.52 per barrel by...

  • May 17- U.S. crude oil inventories fell for a sixth straight week, as OPEC efforts to reduce supply appear to be coming to fruition ahead of the cartel's upcoming meeting next week, while gasoline and distillate stocks also dropped. Traders and investors have grown increasingly concerned about a supply glut several months into the deal between the Organization...

  • *Prospects of OPEC- led supply cut deal extension supports prices. LONDON, May 17- Oil prices strengthened on Wednesday ahead of U.S. crude inventory data that could give investors a clue as to whether an OPEC- led output cut is making progress in reducing a persistent global supply overhang. Brent reached $52.63 a barrel and WTI rose as high as $49.66 on Monday after...