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Oil falls from 2015 highs as rally runs out of steam

Oil prices fell on Wednesday after hitting a near two-and-a-half year high in the previous session as analysts said the rally was gradually running out of steam despite supply outages in Libya and the North Sea. Brent crude futures dropped to $66.26 a barrel, down 1.15 percent, or 76 cents, at 1047 GMT after breaking […]

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Oil prices inch higher ahead of Christmas holiday weekend

Oil prices rose in light volumes on Friday, steadying near their highest levels since 2015 on pledges from OPEC leader Saudi Arabia and non-OPEC Russia that any exit from crude output cuts would be gradual. Brent crude futures, the international benchmark for oil prices, ended the session up 35 cents at $65.25 a barrel, its […]

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Oil prices dips as U.S. production fast approaches 10 million bpd

Oil prices dipped on Thursday as soaring U.S. output, fast approaching 10 million barrels per day (bpd), outweighed a drop in American crude inventories. U.S. West Texas Intermediate (WTI) crude futures were at $58.02 a barrel at 0540 GMT, down 7 cents from their last settlement. Brent crude futures, international benchmark for oil prices, were […]

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Oil markets little changed on lack of price drivers

Oil markets were stable on Monday, hovering around Friday’s levels as a lack of conclusive market indicators prevented prices from swinging either way. U.S. West Texas Intermediate (WTI) crude futures were at $57.33 a barrel at 0105 GMT, up 3 cents from their last settlement. Brent crude futures, the international benchmark for oil prices, were […]

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Oil holds below 2-year highs with focus on U.S. output

Oil prices were mixed on Friday, lingering below two-year highs on Friday as the continuing outage of a North Sea pipeline and OPEC-led production cuts supported prices, while climbing U.S. output kept a lid on gains. Brent crude futures were down 4 cents at $63.27 a barrel by 1:58 p.m. EST (1858 GMT). U.S. West […]

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Brent eases as traders become sanguine about pipeline outage: Kemp

Brent futures for delivery in the first months of next year have given up much of their premium since the announcement on Monday that the Forties pipeline system would be shut for emergency repairs. The Forties pipeline system, which carries around 450,000 barrels per day and handles nearly a quarter of North Sea output, is […]

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Oil down after Forties outage price surge

Brent oil fell on Wednesday as investors continued to sell off their positions following the shutdown of the major North Sea Forties crude and gas pipeline, which buoyed prices on Monday. Earlier in the day, prices were supported by a larger-than-expected drawdown in U.S. crude stockpiles. Brent crude was down 5 cents at $63.29 a […]

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1-Oil drops after rally on pipeline outage; Brent premium narrows

Oil prices fell sharply on Tuesday, as traders took profits after prices surged early to a two-year high on an unplanned closure of the pipeline that carries the largest North Sea crude oil grade. Closure of the pipeline crimped the flow of global benchmark Brent crude, but traders said Brent came under pressure when its […]

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Oil tops $65, first time since 2015, on UK pipeline outage

Oil rose above $65 a barrel for the first time since mid-2015 on Tuesday as an unplanned shutdown of the UK’s biggest North Sea oil pipeline supported a market already tightened by OPEC-led production cuts. The Forties oil pipeline helps set global oil prices. It was scheduled to pump 406,000 barrels per day (bpd) in […]

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Oil prices stable as OPEC cuts countered by rising US drilling

Oil markets were stable on Monday as ongoing output cuts led by OPEC were countered by rising U.S. drilling activity that points to a further increase in American production. U.S. West Texas Intermediate (WTI) crude futures were at $57.32 a barrel at 0749 GMT, down 4 cents from their last settlement. Brent crude futures, the […]

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Nigeria's Oil Minister and OPEC president Kachikwu addresses a news conference after a meeting of OPEC oil ministers in Vienna

Oil rises over 1 pct on threatened Nigeria strike, short covering

Oil prices climbed more than 1 percent on Thursday due to a threatened strike in Nigeria and as traders cover shorts after sharp losses the previous day brought on by an unexpectedly large rise in U.S. stocks of refined fuels. “Short covering in the market, together with the threat of a strike by Nigeria´s key […]

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Oil edges up as U.S. crude stocks fall, but soaring output weighs

Oil prices inched higher on Thursday after a data report showed a decrease in U.S. crude inventories, but rising gasoline stocks and crude production weighed on the market. U.S. West Texas Intermediate (WTI) crude futures were at $56.18 a barrel at 0424 GMT, up 22 cents, or 0.4 percent from their last settlement. Brent crude […]

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