oil prices
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U.S. Stocks Near Record as Oil Gains, Bonds Fall: Markets Wrap
EghtesadOnline: U.S. stocks traded near a record high amid thin trading as oil posted its longest winning streak in four months. Treasuries fell amid soft demand in an auction of two-year notes.
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Oil Extends Longest Run of Gains Since August Before OPEC Cuts
EghtesadOnline: Oil extended the longest winning streak in more than four months before OPEC and other producing nations start reducing output to stabilize the market.
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Oil steady in quiet holiday season trade; supply cut deal to kick in Jan 1
EghtesadOnline: Oil prices were little changed on Tuesday in light pre-New Year holiday trading with markets adopting a wait-and-see stance less than a week before the first output cut deal agreed…
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Iran heavy oil registers record price
EghtesadOnline: Iran's heavy oil allocated the highest price increase in the week ended December 16 gaining 2 dollars-and 2 cents reached 51 dollars- and 70 cents a barrel.
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Saudi Arabia See Oil Revenue Rising 46% in 2017 as Prices Climb
EghtesadOnline: Saudi Arabia expects oil revenue to jump by 46 percent next year after a deal between the kingdom and other producers to curb output drove up global prices.
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Iran Crude Oil Trading Above $50
EghtesadOnline: Iran's oil export grades topped the $50-per-barrel mark in the week ending Dec. 16, supported by a decision of OPEC producers and outside producers to slash production to alleviate…
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Investors Betting on Oil Price Drop Flee as Production Cuts Near
EghtesadOnline: Oil investors seem to have less reason to doubt that OPEC and other producers will make the cuts needed to balance the market.
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Oil prices fall as U.S. inventories, Libya output weigh
EghtesadOnline: Oil prices slipped in tepid Asian trading on Thursday, dragged down by an unexpected rise in U.S. crude inventories last week and moves by Libya to boost output over the next…
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Oil prices edge up on expected U.S. crude inventory draw
EghtesadOnline: Oil prices nudged higher on Wednesday on expectations of a U.S. crude inventory draw, although trading activity was muted as markets start to wind down ahead of the Christmas…
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Asian Equities Gain as Dow Hits Record, Oil Climbs: Markets Wrap
EghtesadOnline: Asian stocks followed advances in U.S. and European equities as the prospects of faster U.S. economic growth propelled markets toward the close of a turmoil-filled year. Oil extended…
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Iran’s OPEC Win Lacks Substance Without Deals With Big Oil
EghtesadOnline: Few countries have benefited from the oil market’s 2016 recovery like Iran. Since sanctions on its economy were eased in January, the Persian Gulf producer has doubled exports…
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OPEC Deal Tests Oil Majors’ Appetite for Risk and Reward
EghtesadOnline: OPEC’s deal to cut production and boost prices gives oil companies the opportunity to shake off two years of layoffs and slumping profits to start investing again -- if they still…
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Oil prices rise in anticipation of tighter 2017 market
EghtesadOnline: Oil prices rose on Monday in anticipation of tighter crude supply going into 2017 following the decision by OPEC and other producers to cut output to prop up prices.
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OPEC Deal Makes Oil Investors Most Bullish Since Slump Began
EghtesadOnline: Investors are the most optimistic on oil since the slump began two and a half years ago. Money managers boosted bets on rising West Texas Intermediate crude prices to the highest…
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How Global Oil Flows Might Look After OPEC’s Supply Shock
EghtesadOnline: OPEC’s quest to end a global crude glut already snapped a two-year slump in oil prices. Now attention is turning to how the group’s surprise decision to cut output will transform…
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Oil prices stabilize after Fed hike as tighter market looms
EghtesadOnline: Oil prices stabilized on Thursday as a tighter market looms in 2017 due to planned output cuts led by OPEC and Russia, after sharp declines earlier following Wednesday's U.S.…
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Oil prices fall on rising U.S. crude stocks, OPEC output concerns
EghtesadOnline: Oil prices fell on Wednesday following a reported rise in U.S. crude inventories and an estimate that OPEC may have produced more crude in November than previously thought, potentially…
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European Stocks Retreat as Bonds Rise Before Fed; Crude Declines
EghtesadOnline: Caution pervaded markets before the Federal Reserve’s expected interest-rate hike later Wednesday. European stocks dropped from an 11-month high and the dollar declined, while…
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Oil prices stable, supported as output cuts hit market
EghtesadOnline: Oil prices were stable on Tuesday, buoyed by soaring demand in Asia and as signs of a crude production cut organized by OPEC and other exporters materialized, tightening a market…
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Stocks look for direction ahead of Fed; oil prices jump
EghtesadOnline: The S&P 500 and the Dow were set to open little changed, while the Nasdaq was on track to open lower on Monday, after the three major indexes registered fresh record highs on…
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Oil Soars as Output Deal Weighs on Bonds; China Shares Tumble
EghtesadOnline: Crude oil surged to the highest in 17 months amid efforts to cut production, pushing up the outlook for global inflation and sending 10-year Treasury yields above 2.5 percent…
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Oil Seen Headed to $60 as Saudis Signal Deeper Output Cuts
EghtesadOnline: Oil may climb to $60 a barrel for the first time in almost a year and a half after Russia and other unaffiliated nations joined an OPEC pledge to reduce production and Saudi Arabia…
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Goldman Says Saudis Wrong to Rule Out U.S. Shale Oil Rebound
EghtesadOnline: Saudi Arabia is wrong to think that U.S. shale production won’t respond to higher oil prices in 2017, according to Goldman Sachs Group Inc.
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Oil Surges as Saudis Eye Deeper Cuts While Non-OPEC Joins Deal
EghtesadOnline: Oil jumped to the highest since July 2015 after Saudi Arabia signaled it’s ready to cut output more than earlier agreed and non-OPEC countries including Russia pledged to pump…
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Oil prices soar on global producer deal to cut crude output
EghtesadOnline: Oil prices shot to their highest levels since mid-2015 on Monday after OPEC and other producers reached their first deal since 2001 to jointly reduce output in order to rein in…
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Oil surges after output cuts, strong dollar weighs
EghtesadOnline: Oil prices jumped to their highest levels in a year and a half on Monday after OPEC and non-OPEC producers agreed to cut oil output to ease a global glut, while the U.S. dollar…
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Oil slump prompts Persian Gulf states to take shine off cushy government jobs
EghtesadOnline: Ahmed, a Qatari civil servant, used to arrive at his office at a government ministry in Doha late in the morning and leave for home after lunch, collecting a monthly salary of…
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OPEC, non-OPEC agree first global oil pact since 2001
EghtesadOnline: OPEC and non-OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices that overstretc…
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OPEC, Russia see smooth road to global deal on output cut
EghtesadOnline: Russia and Saudi Arabia said they expect OPEC and non-OPEC producers to reach an agreement on Saturday to curtail oil output and prop up prices in the first such joint move since…
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OPEC’s Historic Deal Won’t Be Enough to Drain Oil Stockpiles
EghtesadOnline: OPEC is likely to bring the oil market into balance by the middle of next year, but its production cut looks set to fall short of its stated goal of draining the stockpiles that…