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Oil slips on trade fears but soars in week after Saudi production attacked

6 hours ago NAMEX Comments Off on Oil slips on trade fears but soars in week after Saudi production attacked
NEW YORK (Reuters) – Oil prices eased on Friday on renewed concern over the U.S.-China trade war, but futures still posted weekly gains, with Brent marking its biggest weekly increase since January, after an attack on Saudi Arabia’s energy industry last weekend. Brent crude LCOc1 futures fell 12 cents to settle at $64.28 a barrel, Read More

‘Catastrophic flooding’ threatens heart of Texas oil industry

19 hours ago NAMEX Comments Off on ‘Catastrophic flooding’ threatens heart of Texas oil industry
Flooding from a tropical storm hit the Houston area on Thursday, with some calling the situation worse than Hurricane Harvey. Heavy rainfall inundated the Texas coast, flooding Houston and Beaumont, home to massive oil refining, petrochemical and export facilities. The storm was downgraded to just a tropical depression, but those classifications only measure wind speed. Read More

GLOBAL MARKETS-Economic stimulus lifts shares, oil edges up on Mideast tensions

20 hours ago NAMEX Comments Off on GLOBAL MARKETS-Economic stimulus lifts shares, oil edges up on Mideast tensions
* Share prices near this year’s peak in many markets * Asian stock markets: tmsnrt.rs/2zpUAr4 * Sterling rises after Juncker’s comments on Brexit * China cuts new 1-year lending benchmark rate by 5 bps * European stocks seen down slightly By Hideyuki Sano TOKYO, Sept 20 (Reuters) – Asian share prices rose on Friday as Read More

GLOBAL MARKETS-Economy hopes support shares, oil edges up on Mideast tensions

23 hours ago NAMEX Comments Off on GLOBAL MARKETS-Economy hopes support shares, oil edges up on Mideast tensions
TOKYO (Reuters) – Asian share prices inched higher on Friday as economic stimulus around the world eased fears over slowing growth, while crude oil prices climbed on concerns that last weekend’s attacks on Saudi Arabia’s oil facilities still pose supply risks. FILE PHOTO: Pedestrians walk pass an electronic board showing the Japan’s Nikkei average (R) Read More

Oil eases losses as Saudi Arabia blames Iran for recent attacks

2 days ago NAMEX Comments Off on Oil eases losses as Saudi Arabia blames Iran for recent attacks
By Jessica Summers on 9/18/2019 NEW YORK (Bloomberg) – Crude trimmed losses after Saudi Arabia said Iran sponsored the recent attacks to its key oil production facilities. Futures fell as much as 2.2% in New York before easing declines on Wednesday. The weekend attacks on the kingdom’s critical oil infrastructure were “unquestionably sponsored by Iran” Read More

Analysis: Vietnam turns to US crude as Middle East jitters raise energy security concerns

3 days ago NAMEX Comments Off on Analysis: Vietnam turns to US crude as Middle East jitters raise energy security concerns
Singapore — Vietnam is feeling the pressure to secure adequate crude supply as geopolitical tensions in the Middle East continue to raise Asia’s energy security concerns, with state-run Binh Son Refining and Petrochemical Co. aiming to ramp up crude imports from the US and West Africa. Not registered? Receive daily email alerts, subscriber notes & Read More

GLOBAL MARKETS-Caution rules oil, financial markets due to Middle East worries, Fed

3 days ago NAMEX Comments Off on GLOBAL MARKETS-Caution rules oil, financial markets due to Middle East worries, Fed
* Oil stabilise as Saudi says has restored supply * But geopolitical tensions still support crude * Investors expect Fed to cut rates by 25 basis points on Wed * European shares tread water, luxury under pressure * Graphic: World FX rates in 2019 tmsnrt.rs/2egbfVh By Tom Arnold LONDON, Sept 18 (Reuters) – Oil prices Read More

GLOBAL MARKETS-Oil retreats on Saudi supply reassurance, Fed in limelight

3 days ago NAMEX Comments Off on GLOBAL MARKETS-Oil retreats on Saudi supply reassurance, Fed in limelight
TOKYO (Reuters) – Oil prices cooled on Wednesday as Saudi Arabia said full oil production would be restored by month’s end while caution ahead of an expected U.S. interest rate cut kept wider financial markets in tight ranges. FILE PHOTO: A man in a bicycle stops in front of an electronic board showing the Nikkei Read More

Oil steps back on Saudi supply reassurance, focus shifts to Fed

3 days ago NAMEX Comments Off on Oil steps back on Saudi supply reassurance, focus shifts to Fed
TOKYO (Reuters) – Oil prices cooled on Wednesday as Saudi Arabia said full oil production would be restored by month’s end while caution ahead of an expected U.S. interest rate cut kept wider financial markets in tight ranges. FILE PHOTO: A man in a bicycle stops in front of an electronic board showing the Nikkei Read More

GLOBAL MARKETS-Oil steps back on Saudi supply reassurance, focus shifts to Fed

3 days ago NAMEX Comments Off on GLOBAL MARKETS-Oil steps back on Saudi supply reassurance, focus shifts to Fed
TOKYO (Reuters) – Oil prices cooled on Wednesday as Saudi Arabia said full oil production would be restored by month’s end while caution ahead of an expected U.S. interest rate cut kept wider financial markets in tight ranges. FILE PHOTO: A man in a bicycle stops in front of an electronic board showing the Nikkei Read More