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  • *China pauses build-up of strategic reserves. LONDON, March 18- Brent oil prices fell below $53 a barrel on Wednesday on oversupply concerns as industry data indicated U.S. crude stocks had hit a new record high. Brent for May delivery was down 62 cents at $52.89 per barrel by 1058 GMT after ending the previous session up 7 cents.

  • LONDON, March 18- Brent prices fell on Wednesday on oversupply concerns as industry data indicated U.S. crude stocks had hit a new record high. U.S. crude inventories rose by 10.5 million barrels to 450 million in the week to March 13, American Petroleum Institute data showed on Tuesday. Brent for May delivery was down 47 cents to $53.04 per barrel by 0956 GMT after...

  • Brent for May delivery fell 24 cents to $53.27 a barrel by 0108 GMT after ending the previous session 7 cents up at $53.51. U.S. crude for April delivery fell 81 cents to $42.64 after settling the previous session 42 cents lower at $43.46. U.S. crude tumbled by $1.02 a barrel to $42.44 in early Asian trade on Wednesday after crude inventories rose by 10.5 million...

  • Hammered by oversupply, U.S. oil prices fell 60 percent from $107 a barrel in June to below $44 a barrel in January before rallying and trading in a range around $50 in February. "We thought the market was being supported by a couple of false positives, and a couple of one-offs that we didn't think were sustainable into the second quarter," said Michael Cohen, head of...

  • *Signs of nuclear deal and end of sanctions for Iran add pressure. NEW YORK, March 16- Oil prices fell 2 percent on Monday, with U.S. crude hitting six-year lows, on signs of higher output in the United States and Libya and a possible nuclear deal that could end sanctions for Iran, allowing more of its oil into the market. The United States and Iran, meanwhile, inched closer...

  • *Signs of nuclear deal and end of sanctions for Iran add pressure. NEW YORK, March 16- Brent oil fell about 3 percent on Monday and U.S. crude hit six-year lows on signs of higher output in the United States and Libya and a possible nuclear deal that could end sanctions for Iran, allowing more of its oil into the market. The United States and Iran, meanwhile, inched closer...

  • Top 5 reasons why oil is going lower Monday, 16 Mar 2015 | 10:24 AM ET
    A view of a petrochemical complex in Assaluyeh on Iran's Persian Gulf coast.

    Wall Street is giving five big reasons for why the price of oil is headed lower. You may have heard two but at least two are surprising.

  • *Genscape cites another big U.S. crude stock in Cushing- trade. NEW YORK, March 12- Global oil prices fell on Thursday on estimates showing another big supply build at the delivery point for the U.S. crude contract, with trade volatile ahead of the expiry of the front-month in benchmark Brent oil. "The ship channel opening allows crude to get to refineries and the...

  • *Genscape cites another big U.S. crude stock in Cushing- trade. "The ship channel opening allows crude to get to refineries and the expectation is that with margins strong, refiners will produce as much as they can and this is putting some pressure on oil futures," said Phil Flynn, analyst at Price Futures Group in Chicago. Brent was down 45 cents, or about 1 percent, at...

  • *Genscape cites another big U.S. crude stock in Cushing- trade. NEW YORK, March 12- Global oil prices weakened on Thursday, with both benchmark Brent and U.S. crude surrendering early gains in volatile trading before the expiry of their front-month contracts and in fears of a supply build at the delivery point for U.S. oil. "The ship channel opening allows crude to get...

  • *Genscape cites another big U.S. crude stock in Cushing- trade. NEW YORK, March 12- Global oil prices weakened on Thursday, with both benchmark Brent and U.S. crude surrendering early gains in volatile trading before the expiry of their respective front-month contracts and fears of a new supply build at the delivery point for U.S. oil. The estimate came after U.S....

  • GLOBAL MARKETS-Dollar off recent peaks; stocks, Brent up Thursday, 12 Mar 2015 | 11:22 AM ET

    NEW YORK, March 12- The dollar softened the most in a month against a basket of currencies on Thursday, giving stocks and some commodities respite after sharp sell-offs triggered by expectations of the U.S. Stocks opened higher on Wall Street, led by bank shares after the Fed approved most of their capital plans, many of which included share repurchases and...

  • *Genscape says Cushing stocks up by 2.2 mln bbls from Mar 6. LONDON, March 12- Crude oil futures diverged on Thursday with Brent rising towards $58 a barrel on Thursday as the dollar weakened, while U.S crude futures fell below $48 a barrel after industry monitors estimated another big stock build at the Cushing, Oklahoma, delivery point for U.S. crude.

  • HOUSTON, March 11- Blueknight Energy Partners LP has increased storage rates and lengthened contracts at the key U.S. oil hub in Cushing, Oklahoma, which is expected to reach full capacity in the next two months due to cheap crude supplies. He said nine-month contracts were renewed at 23 months, and all of the company's 6.6 million barrels of crude storage at...

  • NEW YORK, March 11- Brent rebounded from a one-month trough on Wednesday while U.S. crude fell to February lows after oil inventories in the United States hit record highs. "We have to go back to the 1930 s to find this much oil in the United States," said James L. Williams, energy economist at WTRG Economics in London, Arkansas. London- traded Brent's front-month rose 62...

  • LONDON, March 11- Brent crude rebounded from a one-month low below $56 a barrel on Wednesday as traders bought the international benchmark and sold its U.S. rival, after data showed a large increase in U.S. oil stocks last week. "The fear of global supply glut that sent crude prices to six-year lows continues to hang over the market," said Gene McGillian, senior analyst...

  • *Russia will discuss U.S. shale with OPEC- energy minister. LONDON, March 11- Brent crude rose to $57 a barrel on Wednesday, rebounding after hitting a one-month low as a surprise drop in U.S. oil stocks overshadowed a rally in the dollar and global oversupply. Brent for April delivery hit a one-month low of $55.92 a barrel before recovering to trade up 62 cents at...

  • *Russia will discuss U.S. shale with OPEC- energy min. LONDON, March 11- Brent crude oil slipped to a one-month low below $56 a barrel on Wednesday before steadying as a rally in the U.S. dollar and global oversupply weighed. Russia's crude oil exports are also set to rise this year, Energy Minister Alexander Novak said, despite some expectations of a plunge in...

  • SINGAPORE, March 11- Brent crude rose towards $57 a barrel on Wednesday, paring some of the previous session's sharp losses, after data showed U.S. crude stocks fell for the first time in two months. Brent for April delivery rose 45 cents to $56.84 a barrel by 0540 GMT after dropping $2.14, or 3.66 percent, in the previous session. U.S. crude inventories in the week to...

  • Brent rebounds towards $57 after U.S. crude stocks fall Tuesday, 10 Mar 2015 | 11:30 PM ET

    SINGAPORE March 11- Brent crude rose towards $57 a barrel on Wednesday, paring some of the previous session's sharp losses, after data showed U.S. crude stocks fell for the first time in two months. Brent for April delivery rose 27 cents to $56.66 a barrel by 0327 GMT after dropping $2.14, or 3.66 percent, in the previous session. U.S. crude inventories in the week to...