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U.S. crude oil inventories jumped last week even as refining utilization remained high, the EIA said on Wednesday in a majorly bearish report.
Investing.com - Oil prices traded higher on Tuesday as Saudi Arabia cut production by more than originally thought and traders awaited weekly data on U.S. output.
Oil futures lose ground Monday, but end off session lows after tumbling sharply on expectations for an increase in crude stocks at the delivery hub for U.S. futures and data showing a pickup in production by OPEC.
Investing.com - Oil prices traded lower on Monday, with U.S. crude posting losses, as the Organization of Petroleum Exporting Countries (OPEC) forecast lower demand for next year.
With summer in full swing, thousands of kids at sleepaway camps around the U.S. are doing without their cell phones, laptops and iPads. About 90 percent of the nearly 8,400 sleepaway camps counted by the American Camp Association are now device free. NEW YORK (AP) -- Social media bans of conspiracy theorist Alex Jones have thrust Facebook, YouTube, Twitter and others into a role they never wanted — as gatekeepers of public discourse who are going to anger lots of people no matter what they do.
"The recent cooling down of the market, with short-term supply tensions easing, currently lower prices, and lower demand growth might not last," the Paris-based agency said in its monthly report.
Investing.com - WTI crude oil prices settled at six-week lows Wednesday after data showed U.S. crude stockpiles fell less than expected and U.S.-China trade tensions intensified.
Crude oil for September delivery on the New York Mercantile Exchange fell 1.45 cents, or 2.10%, to trade at $67.72 a barrel by 10:43 AM ET (2:43 GMT), compared to $67.83 ahead of the report.
U.S. crude stocks fell last week, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday. Crude inventories fell by 1.4 million barrels in the last week, ...
Crude-oil prices finish in positive territory Tuesday, with reinstated U.S. sanctions against Iran seen as a threat to global supplies, especially after Saudi Arabia’s production had also recently contracted.
U.S. crude oil prices were higher on Tuesday as U.S. sanctions against Iran were renewed, increasing concerns of tightening supply. West Texas Crude oil futures rose 0.83% to $69.58 a barrel as of 10:16 AM ET (14:16 GMT). Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., increased 1.29% to $74.71.
Crude-oil prices settle higher Monday on the back of a pair of factors that threaten to disrupt near-term supplies—bullish developments for futures.
Investing.com – Oil prices advanced on Thursday despite data from the Energy Information Administration (EIA) showed an unexpected build in crude supplies.
Facebook is spending heavily to avoid a repeat of the Russian interference that played out on its service in 2016.But it doesn't appear to have the upper hand yet — and may never. Its adversaries are wily, more adept at camouflaging themselves and apparently aren't always detectable by Facebook's much-vaunted artificial intelligence systems. WASHINGTON (AP) -- The Trump administration is proposing raising planned taxes on $200 billion in Chinese imports to 25 percent from 10 percent, turning up the pressure on Beijing in a trade war between the world's two biggest economies.
Investing.com - WTI crude oil prices settled lower Wednesday after data showed an unexpected build in U.S. crude stockpiles as imports increased and exports fell.
NEW YORK (AP) —CBS will keep CEO Les Moonves in place during an investigation of sexual misconduct charges against him, the company said. WASHINGTON (AP) -- The Federal Reserve will meet this week to assess an economy that has just enjoyed a healthy spurt of growth but faces a flurry of trade fights pushed by President Donald Trump that could imperil that growth over time. If those concerns weren't enough, Trump has openly expressed his displeasure at the Fed's interest rate increases — something no president has done publicly in more than two decades.
West Texas Crude oil futures fell 0.03% to $69.28 a barrel as of 10:27 AM ET (14:27 GMT). Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., increased 0.05% to $73.97.
President Donald Trump and European leaders pulled back from the brink of a trade war over autos Wednesday and agreed to open talks to resolve a dispute over steel and to tear down trade barriers between the United States and the European Union. In a hastily called Rose Garden appearance with Trump, European Commission President Jean-Claude Juncker said the U.S. and the EU agreed to hold off on new tariffs, suggesting that the United States will suspend plans to start taxing European auto imports — a move that would have marked a major escalation in trade tensions between the allies.
Investing.com – WTI crude oil prices settled higher Wednesday after data showed a large draw in U.S. crude stockpiles as imports fell sharply.
Crude oil for September delivery on the New York Mercantile Exchange rose 56 cents, or 0.82%, to trade at $69.08 a barrel by 10:33 AM ET (2:33 GMT), compared to $68.66 ahead of the report.
The dollar moved lower following commentary from President Donald Trump who did and interview and a follow up tweet describing his displeasure with the rise in interest rates, along with the rise in the dollar. This helped gold prices gain a foot hold and move higher. Gold prices were unable to take out the prior days lows and has generate a reversal pattern that could test higher prices.
Investing.com - Oil prices remained on track for sharp weekly declines in midmorning trade on Friday, despite hopes that Saudi Arabia was determined not to flood markets with exports, as traders looked ahead to the latest weekly data on U.S. production.
Investing.com - Oil prices traded higher early in Europe on Friday, as comments that Saudi Arabia would reduce exports in August tempered fears of oversupply.
Yesterday’s rally was fueled by the bigger-than-expected drop in gasoline futures. However, gains were likely limited by the larger-than-expected build in crude inventories and more importantly, the jump in U.S. production to a record 11 million bpd. Today’s early price action indicates that traders are struggling with signs of strong gasoline demand in the United States at a time when oil producers are putting more crude on the market. This likely means that the bullish move sparked by the gasoline data is unlikely to last.
Oil prices rose on Wednesday after U.S. government data indicated bullish demand for gasoline and distillates, which overshadowed a surprise build in U.S. crude inventories and U.S. crude oil production hitting 11 million bpd for the first time. West Texas Intermediate (WTI) crude (CLc1) futures rose 68 cents, or one percent, to settle at $68.76 a barrel. U.S. crude stocks surprised the market and rose by 5.8 million barrels last week as oil production hit 11 million barrels a day for the first time ever, the Energy Information Administration said on Wednesday.