Friday, July 10, 2020

Carsten Fritsch News

Brent Hits One-month High, U.S. Oil Tops $32 as Lockdowns Ease

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Oil prices jumped on Monday, with benchmark Brent hitting a one-month high and U.S. crude topping $30, supported by optimism about the reopening of economies and output cuts by major producers.

Oil Facing Prolonged Period of Demand Destruction

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Oil prices rose on Friday as the world's richest nations poured unprecedented aid into the global economy to stop a coronavirus-driven recession and U.S. President Donald Trump hinted he may intervene…

Brent, WTI Fall as Coronavirus Spreads

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Brent fell by 10% on Monday, and U.S. crude to below $30, as emergency rate cuts by the U.S. Federal Reserve and its global counterparts failed to tame markets and China's factory output plunged…

Oil Falls, OPEC Backs Deeper Supply Cuts

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Oil fell on Thursday as the coronavirus epidemic showed no signs of slowing, with deaths mounting globally, and while major producers agreed on deeper output cuts to bolster prices, they could…

Oil Falls 1% on Surprise U.S. Crude Build, Saudi Crude Output

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Oil shed more than 1% on Wednesday, logging a second straight day of losses after U.S. crude stockpiles unexpectedly rose and as Saudi Arabia maintained a faster-than-expected recovery of its oil production.A rally in the dollar index…

Oil Soars 10%

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Oil futures jumped 10% on Monday after an attack on Saudi Arabian crude oil processing facilities over the weekend sliced the kingdom's production in half and threatened to hamper shipments from…

Oil Slips from Five-Month High

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Oil slipped from a five-month high above $71 a barrel on Tuesday as Russian comments signalling the possible easing of a supply-cutting deal with OPEC countered concern that violence in Libya could…

Oil Slips Below $62 as U.S. Inventories Rise

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API reports increase in U.S. crude stocks; Venezuela sanctions yet to spark rally but still supportive.Oil fell below $62 a barrel on Wednesday after a report showed a rise in U.S. crude inventories…

Oil Steady as Saudi Tensions Balance Demand Outlook

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Oil prices steadied on Monday as tension over the disappearance of a prominent Saudi journalist stoked supply worries, balancing concerns over the long-term demand outlook.Benchmark Brent crude…

Oil Holds Near Four-Year Highs

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Oil held just below four-year highs on Thursday, supported by the imminent loss of Iranian supply through U.S. sanctions, but also tempered by the prospect of a rapid production increase from Saudi…

Oil Up On Supply Concerns Ahead of OPEC Meeting

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Oil prices rose on Friday ahead of a meeting of OPEC and other large crude exporters that will focus on production increases as U.S. sanctions restrict Iranian exports.OPEC and its allies are scheduled…

Oil Rises Above $74 on Report of U.S. Inventory Drop, Iran Sanctions

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Oil hit a two-week high above $74 a barrel on Wednesday as an industry report showing a sharp drop in U.S. crude inventories and U.S. sanctions on OPEC producer Iran pointed to tighter supplies.The American Petroleum Institute reported U.S.

U.S. Crude Hits $75 as Oil Supply Risks Mount

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U.S. crude oil prices rose above $75 a barrel for the first time since 2014 on Tuesday after Iran appeared to threaten to disrupt oil shipments from the Middle East Gulf if Washington pressed ahead…

Oil Tight on Libyan Port Struggles

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Libyan oil production could face protracted disruption as factions in the east seek to seize control of crude exports, adding pressure to a tight global market. Eastern factions have tried to take…

Struggle to Control Libyan Oil Ports Adds to Global Supply Worries

Libyan oil production could face protracted disruption as factions in the east have sought to seize control of crude exports, adding pressure to a tight global market.Eastern factions have tried…

Oil Rises as Outages Balance Trade Dispute, OPEC

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Oil prices rose on Tuesday, supported by production losses in Canada, Libya and from the Neutral Zone between Saudi Arabia and Kuwait, but under pressure from higher supply from elsewhere in OPEC…

OPEC Sees Strong Oil Market, Possible Need for More Output

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Global oil demand is set to stay strong in the second half of 2018, an OPEC technical panel forecast this week, suggesting the market could absorb extra production from the group.The Organization…

Oil Rises Ahead of OPEC, Pressured by China Tariffs

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Oil prices rose on Monday ahead of an OPEC meeting this week and as investors assessed the impact of a trade dispute between the United States and China.U.S. light crude oil hit a two-month low…

Oil Gains After Larger than Expected U.S. Stock Draws

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U.S. crude stocks fall by 1.4 million barrels. Global oil demand likely to moderate this year. Oil prices gained on Wednesday, shaking off the effects of a strengthening dollar, after an inventory report showed U.S.

Oil Slips Further as Focus on OPEC Mounts

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U.S. crude, gasoline inventories rise unexpectedly as Brent-WTI spread nears widest margin in three years. Oil prices recorded their largest one-day drop in two weeks on Thursday, with expectations…