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  • Stocks plunge as oil prices climb after weeks of losses, Edison International suffers amid California wildfire
    Yahoo Finance Video12 hours ago

    Stocks plunge as oil prices climb after weeks of losses, Edison International suffers amid California wildfire

    Yahoo Finance's LIVE market coverage and analysis, beginning each day at 11:30 a.m. ET.

  • Oil Extends Record Losing Streak as Trump Blasts Saudi Plan
    Bloomberg34 minutes ago

    Oil Extends Record Losing Streak as Trump Blasts Saudi Plan

    Prices “should be much lower based on supply,” Trump said in a tweet, after Saudi Energy Minister Khalid Al-Falih said producers need to cut about 1 million barrels a day from October production levels. “Trump’s message was intended to keep OPEC in check” after the group signaled they may agree to cut production, Makiko Tsugata, a senior analyst at Mizuho Securities Co., said by phone from Tokyo. “There is not a lot of time left before the OPEC meeting in December, and the group may not be able to build consensus by then.

  • Reuters4 hours ago

    VEGOILS-Market factors to watch Nov 13

    The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets. FUNDAMENTALS * Malaysian palm oil futures pared some losses on Monday during the second half of ...

  • Oilprice.com6 hours ago

    What’s Behind China’s Record Oil Imports?

    Oil markets largely ignored record Chinese crude oil import data, driven by U.S. sanctions on Iran and falling legacy production in domestic fields

  • OPEC to the Oil Market: We Told You So
    Motley Fool6 hours ago

    OPEC to the Oil Market: We Told You So

    The group of oil-producing nations warned the market that it was worried about the wrong thing.

  • Associated Press6 hours ago

    Business Highlights

    ___ Amazon HQ favorites: Similar basics but different vibes The communities said to be favored for new bases for Amazon are both riverfront stretches of major metro areas with ample transportation and ...

  • Trump’s Tweet Makes OPEC Cuts Even More Likely
    Bloomberg8 hours ago

    Trump’s Tweet Makes OPEC Cuts Even More Likely

    You go to the trouble of organizing a big get-together in Abu Dhabi to help shore up oil prices, complete with press conferences and the usual nod-and-a-wink guidance. President Donald Trump rebuts it with a tweet. More importantly, it comes after oil prices have already dropped by about $15 a barrel, almost a fifth, over the past month or so to around $70.

  • MarketWatch9 hours ago

    U.S. oil prices end below $60 a barrel and mark a record 11 straight session declines

    U.S. oil futures settled below $60 a barrel on Monday for the first time since February, marking a record 11 straight session declines. Rising global crude production and U.S. President Donald Trump's decision to issue waivers, allowing eight nations to continue importing Iranian oil despite U.S. sanctions on Tehran, have fed concerns over a potential global supply glut. The price declines follow weekend discussions by major oil producers over a potential production cut and a tweet from Trump Monday in which he said he hopes the Organization of the Petroleum Exporting Countries does not cut oil output as prices should be lower based on supply. December West Texas Intermediate oil lost 26 cents, or 0.4%, to settle at $59.93 a barrel on the New York Mercantile Exchange.

  • ‘Double Whammy’ of Cuts and Price Collapse Hits Canada’s Oil Patch
    Bloomberg9 hours ago

    ‘Double Whammy’ of Cuts and Price Collapse Hits Canada’s Oil Patch

    “The differentials are holding to modestly improving but the global prices are sliding,” Kevin Birn, a director on the North American crude oil markets team at IHS Markit, said in a phone interview. Oil sands producers including Canadian Natural Resource Ltd., Devon Energy Corp., Cenovus Energy Inc. and Athabasca Oil Corp. have announced curtailments that may total 140,000 barrels a day or more, after a localized glut sent heavy Western Canada Select crude plunging to a $50 discount to West Texas Intermediate futures, the widest in Bloomberg data going back a decade.

  • Saudis See Need for Major Oil Supply Cut Amid Fears of Glut
    Bloomberg10 hours ago

    Saudis See Need for Major Oil Supply Cut Amid Fears of Glut

    Producers need to cut about 1 million barrels a day from October production levels, Saudi Energy Minister Khalid Al-Falih said in Abu Dhabi on Monday. The kingdom will reduce shipments by about half that amount next month, making its second policy U-turn after a summer surge in prices was followed by a swift collapse into a bear market this month. “This announcement of at least Saudi Arabia reducing probably will firm the price,” BP Chief Executive Officer Bob Dudley said in a Bloomberg television interview.

  • Reuters10 hours ago

    Trump hopes OPEC won't cut production, says oil prices should be lower

    WASHINGTON (Reuters) - U.S. President Donald Trump on Monday said he hoped there would be no oil output reductions, after Saudi Arabia said OPEC was considering cutting oil supply next year, citing softening ...

  • MarketWatch10 hours ago

    U.S. oil benchmark turns lower, eyes record 11 straight session declines

    U.S. oil futures turned lower in Monday dealings, reversing course after discussions among major oil producers over a potential reduction in crude output had pulled prices higher. A lower settlement for the U.S. benchmark would mark its eleventh in a row and longest streak of session declines on record for a front-month futures contract. Oil prices had turned lower before U.S. President Donald Trump said in a tweet that he hopes Saudi Arabia and OPEC won't cut oil production and said oil prices should be much lower based on supply. December West Texas Intermediate oil was down 14 cents, or 0.2%, to trade at $60.05 a barrel on the New York Mercantile Exchange.

  • CNBC10 hours ago

    Trump warns OPEC against cutting oil production: 'Prices should be much lower based on supply'

    Trump warns OPEC against cutting oil production: 'Prices should be much lower based on supply'|| 105569182

  • Barrons.com11 hours ago

    Oil Prices Have Tumbled, but the Bear Market Didn’t Solve This Big Problem

    Brent and West Texas Intermediate futures have bounced 1.2% on Monday, to $71 and $61 per barrel, respectively. Much attention has been focused on the sharp decline in crude prices, inciting concerns about what that might be signaling about macroeconomic growth, but prices coming down might have more to do with reversion to the mean than indication of a coming crisis, writes Parag Thatte, a Deutsche Bank strategist. “...Beginning in April, oil prices began rising as the market focused on diminished supply first from Venezuela and then Iran as the U.S. pulled out of the nuclear deal,” he writes.