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Energy Commodities Oil

  • *U.S. summer driving season kicks off on Memorial Day. West Texas Intermediate crude futures climbed above $50 per barrel early on Tuesday, before dipping back to $49.81 by 0631 GMT, virtually unchanged from their last close. The American Automobile Association said ahead of Memorial Day that it expected 39.3 million Americans to travel 50 miles or more away...

  • *U.S. summer driving season kicks off with Memorial Day. SINGAPORE, May 30- A run by U.S. oil prices towards $50 a barrel ran out of steam on Tuesday as persistent concerns of oversupply outweighed signs of a strong start to the American summer driving season. West Texas Intermediate crude futures climbed above $50 per barrel in early trading on Tuesday, but dipped...

  • Men work for Iraqi Drilling Company at Rumaila oilfield in Basra, Iraq,

    Oil prices fell on signs of resurgent Libyan output and concerns that production cuts by exporting nations won't be enough to drain a glut.

  • People participate in an opposition rally in Caracas, Venezuela, April 8, 2017. The sign reads "no more repression".

    Venezuela's National Assembly leader threatened a later government may refuse to pay $2.8 billion in bonds that Goldman recently purchased.

  • SINGAPORE, May 30- U.S. crude oil prices rose towards $50 per barrel on Tuesday as a strong start to the summer driving season in the United States suggested strong fuel demand in months ahead. West Texas Intermediate crude futures climbed above $50 per barrel in early trading on Tuesday, and were at $494.97 per barrel at 0032 GMT, still up 17 cents from their last...

  • SINGAPORE, May 30- U.S. crude oil prices rose towards $50 per barrel on Tuesday as a strong start to the summer driving season in the United States suggested strong fuel demand in months ahead. West Texas Intermediate crude futures climbed above $50 per barrel in early trading on Tuesday, and were at $494.97 per barrel at 0032 GMT, still up 17 cents from their last...

  • The next catalyst to push oil prices above $50 could be Venezuela. Here's why

    Venezuela's political instability could affect production levels and lead to a global supply disruption, says Andy Lipow of Lipow Oil Associates.

  • May 29- Oil prices rose slightly on Monday, barely paring last week's steep losses with the market remaining cautious as increases in U.S. drilling activity have undercut an OPEC- led push to tighten supply. The market remains uncertain about whether the extension of output cuts by OPEC and other producing countries will be enough to support prices.

  • May 29- Oil prices rose slightly on Monday, paring steep losses from last week, but the market remained cautious as increases in U.S. drilling activity have undercut an OPEC- led push to tighten supply. The market remains uncertain about whether the extension of output cuts by OPEC and other producing countries will be enough to support prices.

  • OPEC and partners have done enough to tighten oil markets: Pro

    Giovanni Staunovo, commodity analyst at UBS Wealth Management, takes a look at the market reaction following OPEC’s decision to continue its output cut.

  • LARNACA, May 29- Iraq may look at hedging part of its crude oil production, the head of the OPEC member's oil marketer SOMO said, as a way to protect government revenue against the risk of oil price volatility. SOMO is floating an idea now and this is yet to be studied, " Falah Al-Amri, who is also Iraq's OPEC governor, told Reuters in an interview. "There are a lot of...

  • LARNACA, May 29- Iraq may look at hedging part of its crude oil production, the head of the OPEC member's oil marketer SOMO said, as a way to protect government revenue against the risk of oil price volatility. SOMO is floating an idea now and this is yet to be studied, " Falah Al-Amri, who is also Iraq's OPEC governor, told Reuters in an interview. "There are a lot of...

  • Oil markets remain oversupplied despite OPEC cuts: Pro

    Daniel Lacalle, CIO at Tressis Gestion, says shale is going to continue to grow “despite whatever is decided in Vienna or anywhere else”.

  • The outcome from OPEC's Vienna meeting was already priced in, hence the market had a relatively softer reaction, says Reza Amanat of Argus Media.

  • SINGAPORE, May 29- Oil prices remained weak on Monday as a relentless rise in U.S. drilling undermined an OPEC- led push to tighten supply. The Organization of the Petroleum Exporting Countries and some non- OPEC producers agreed last week to extend a pledge to cut production by around 1.8 million barrels per day until the end of the first quarter of 2018.

  • An oil pump jack in the oil town of Gonzales, Texas.

    Oil prices slipped on Monday as further increases in U.S. drilling activity undercut an OPEC-led push to tighten supply.

  • SINGAPORE, May 29- Oil prices remained weak on Monday as a relentless rise in U.S. drilling undermined an OPEC- led push to tighten supply. The Organization of the Petroleum Exporting Countries and some non- OPEC producers agreed last week to extend a pledge to cut production by around 1.8 million barrels per day until the end of the first quarter of 2018.

  • *Trade thin ahead of the long weekend break in U.S. and Britain. NEW YORK, May 26- Oil prices rebounded to rise more than 1 percent on Friday, but Brent crude ended the week nearly 3 percent lower after an OPEC- led decision to extend production curbs did not go as far as many investors had hoped. Trading was light after Thursday's heavy sell-off and ahead of the long...

  • *Oil rebounds, market corrects following OPEC. NEW YORK, May 26- Oil prices recovered on Friday from some of the previous day's steep slide after investor disappointment that OPEC curbs did not go far enough, while Wall Street stocks eked out a seventh straight day of gains. Equities are also down, "analyst Carsten Menke at Julius Baer in Zurich said.

  • *Prices rebound after dive on disappointment over OPEC decision. NEW YORK, May 26- Oil prices rebounded to rise more than 1 percent on Friday, but ended the week nearly 3 percent lower after an OPEC- led decision to extend production curbs did not go as far as many investors had hoped. Crude prices plunged 5 percent after the decision as some market participants had...