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OPEC May Spare Three Nations From Oil Cuts

OPEC is considering exemptions for three nations from any potential oil-production cuts, two people with knowledge of the proposal said. Saudi Arabia’s oil minister said he doesn’t anticipate a difficult meeting when the group meets on Nov. 27 to decide its response to slumping crude. Iraq, Iran and Libya wouldn’t have to reduce supplies should […]

West TX Oil Near $74 as Saudi Exports Rise

U.S. crude fell towards $74 a barrel in early Asian trade on Wednesday, headed for a third straight drop, after data showed top OPEC producer Saudi Arabia increased crude exports in September despite signs of an oversupplied market. U.S. crude for December delivery fell 33 cents to $74.28 a barrel by 0058 GMT, taking it […]

Dollar Traders Whether FOMC Minutes Will Keep the March Towards Hikes

Talking Points: Dollar Traders Whether FOMC Minutes Will Keep the March Towards Hikes British Pound Fails to Regain Traction after CPI Uptick Yen Crosses Steady after Snap Election Call, Will the BoJ Help Soothe Uncertainty? Dollar Traders Whether FOMC Minutes Will Keep the March Towards Hikes The Dollar put in for a mixed session Tuesday […]

Low Oil Prices Could Pressure OPEC into Action

Speculators got more bullish on oil for the first time in three weeks, judging that a slump in prices to a four-year low will force OPEC to act. The net-long position in West Texas Intermediate rose 8.7 percent in the week ended Nov. 11, U.S. Commodity Futures Trading Commission data show. Long holdings rebounded from […]

China Slowdown and OPEC Combine for Below $80 Oil

Oil fell below $80 a barrel for the first time since 2010 on Thursday, as more evidence of a slowdown in China’s resource-hungry economy chimed with OPEC warning of a substantial drop in demand next year. Data from Beijing showed below-forecast factory output and investment growth hitting a near 13-year low, reinforcing signs that the […]

Oil Continues Trading Lower As Glut Unchanged

Brent crude traded near its lowest level in four years amid speculation that a drop in OPEC output last month won’t eliminate a supply glut. Futures declined for a third day. The Organization of Petroleum Exporting Countries said its production dropped by 226,400 barrels a day to 30.253 million in October, the largest decrease since […]

British Pound Traders Brace for Volatility from BoE Report

Talking Points: Dollar Drops as FX Volatility, Rate Forecasts Offset British Pound Traders Brace for Volatility from BoE Report Yen Crosses Rally as Market Speculates on Election, Tax Hike Delay Dollar Drops as FX Volatility, Rate Forecasts Offset The US Dollar took a modest spill versus most of its major counterparts this past session as […]

Oil Falls As OPEC Might Leave Supply Unchanged

Brent oil fell to a four-year low amid signs the Organization of Petroleum Exporting Countries isn’t prepared to tackle the global supply glut. West Texas Intermediate was little changed in New York Futures dropped as much as 1.4 percent in London. The oil market is oversupplied, partly because of rising U.S. output, United Arab Emirates […]

Oil Rises After China Posts Strong Growth

OPEC won’t cut its collective crude output when it meets this month and global oil prices will stabilize once the surplus is absorbed by the market, Kuwait Oil Minister Ali Al-Omair said. OPEC, which supplies about 40 percent of the world’s oil, meets Nov. 27 to debate supply. The 12-member Organization of Petroleum Exporting Countries, […]

Oil Rises After US Unemployment Drops to Six Year Low

West Texas Intermediate and Brent crudes advanced after U.S. employment gains exceeded 200,000 for a ninth month and the jobless rate fell to a six-year low, bolstering the outlook for fuel demand. Futures rose as much as 1.6 percent in New York and 1.2 percent in London. Payrolls increased by 214,000 in October following a […]

Dollar Rallies to More than Five Year High as Payrolls Approach

Talking Points: Dollar Rallies to More than Five Year High as Payrolls Approach Euro Drops after Draghi Reiterates Stimulus Commitment British Pound Most Fundamentally At-Risk Currency Next Week Dollar Rallies to More than Five Year High as Payrolls Approach While many of the top financial headlines are cheering the fresh record highs for US equities, […]

Oil Falls as Saudi Arabia Mulling Price Discount

Gold traded near a four-year low on speculation the dollar will keep strengthening as the Federal Reserve considers raising interest rates, while other central banks add stimulus. While the Fed ended its bond-buying program last month and is now weighing the timing of interest-rate increases, the Bank of Japan on Oct. 31 raised its annual […]

West TX Oil Drops to $81 on Expected Fall in Stocks

U.S. crude futures fell back below $81 a barrel on Tuesday in early Asian trade, pressured by Goldman Sachs slashing its price forecasts and expectations of a rise in U.S. crude inventories. NYMEX crude for December delivery was down 42 cents at $80.58 a barrel by 0008 GMT, after settling down 1 cent on Monday. […]

West TX Oil Above $81 as Ebola and U.S. Dollar Impact

U.S. crude futures edged up on Monday to hold above $81 a barrel, following a four-week slide that has pulled prices down by nearly 10 percent amid abundant supply amid and weak demand. NYMEX crude for December delivery was up 10 cents at $81.11 a barrel by 2314 GMT, after settling down $1.08 on Friday […]

West TX Oil up to $83 on Cut in Saudi Oil Supply

West Texas Intermediate surged from its lowest closing price in more than two years as Saudi Arabia trimmed crude oil supply in September. Futures gained as much as 1.7 percent in New York, recording the biggest increase since Oct. 17 and erasing an earlier fall of 0.6 percent. The biggest producer in the Organization of […]

OPEC Looking to Cut Daily Oil Output

OPEC needs to reduce crude output by at least 500,000 barrels a day, Libya’s governor to the group said, the first time since prices plunged into a bear market that a representative from a member nation has suggested how much production should be cut. Oil markets are oversupplied by about 1 million barrels a day, […]

West TX Oil Steady Above $83 after China Demand News

Oil prices closed slightly higher Tuesday after an early rally aided by data showing stronger-than-expected China demand and some technical price recovery after weeks of almost uninterrupted selling. Unflattering global economic data, especially out of Europe, and fears that crude markets were still oversupplied limited gains, analysts and traders said. “Because of their deep slide […]

Oil Gains As OPEC Thinking About Supply Cut

After nearly two years without a single resignation from Japanese Prime Minister Shinzo Abe’s cabinet, two female ministers — appointed only last month — stepped down on the same day. Yuko Obuchi, 40, trade and industry minister, resigned over allegations of improper use of political funds, and Justice Minister Midori Matsushima, 58, quit over claims […]

Chinese Renminbi, Global Markets Await Chinese GDP

Talking Points: Dollar Traders Keep Ear to Ground for Volatility Until Fed Meet Chinese Renminbi, Global Markets Await Chinese GDP Euro Sees Uneven Advance on News of QE Program Activity Dollar Traders Keep Ear to Ground for Volatility Until Fed Meet Though the US Dollar has opened the trading week lower, the market’s motivations are […]

Brent Oil Steady Around $86 as Many Consider Market Oversold

Brent crude oil rose above $86 a barrel on Friday, bouncing from near four-year lows as investors bought back into a market they said was oversold, and as fighting in Iraq increased political risk. Oil has lost more than a fifth of its value since June on heavy oversupply, signs of weak demand growth and […]

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