US Oil
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EIA: South Korea Overtakes China as No. 2 Buyer of US Oil
EghtesadOnline: South Korea overtook China as the No. 2 destination for US crude behind Canada in 2018, as shipments to South Korea soared to a record high of 558,000 barrels per day in December…
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China's tariffs on U.S. oil would disrupt $1 billion monthly business
EghtesadOnline: China’s threat to impose duties on U.S. oil imports will hit a business that has soared in the last two years, and which is now worth almost $1 billion per month.
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Oil World Turned Upside Down as America Sells Oil in Middle East
EghtesadOnline: The United Arab Emirates, a model Persian Gulf petro-state where endless billions from crude exports feed a giant sovereign wealth fund, isn’t the most obvious customer for Texan…
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Asian Equities Mixed as Harvey's Impact Assessed
EghtesadOnline: Asian stocks fluctuated and U.S. equity futures fell as investors weighed the damage from Tropical Storm Harvey on U.S. oil refining centers. The greenback maintained losses after…
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Oil prices rise on signs of tightening market
EghtesadOnline: Oil prices rose on Tuesday, lifted by indications that supply is gradually tightening, especially in the United States.
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Brent Oil Steals Show as Hedge Funds Leave U.S. Crude Aside
EghtesadOnline: While enthusiasm in the U.S. oil market dwindles, things are looking a little brighter across the pond.
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U.S. Oil Drillers Keep Pressure on OPEC With Record Shale Output
EghtesadOnline: Oil output from major U.S. shale plays is poised to reach a fresh record next month, further complicating OPEC’s efforts to support prices.
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Oil prices firm on optimism over declining stocks
EghtesadOnline: Oil prices firmed on Wednesday to hold near eight-week highs hit in the previous session, on expectations of a drawdown in U.S. stocks and as a rise in shale oil production shows…
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Oil prices stable as strong demand meets ongoing supply glut
EghtesadOnline: Oil prices were stable on Tuesday, supported by strong consumption but weighed by ongoing high supplies from producer club OPEC and also the United States.
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Top Oil Market Summons Poseidon as U.S. Crude Vies With Mideast
EghtesadOnline: Poseidon is wading into the battle between U.S. crude and Middle East supplies in the world’s biggest oil market.
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Oil prices rise on strong China demand, signs of U.S. output slowdown
EghtesadOnline: Oil prices rose on Monday, supported by a slowdown in the growth of rigs looking for crude in the United States and because of strong refinery demand from China.
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oil up 1 percent, posts weekly gain of 5 percent
EghtesadOnline: Oil rose 1 percent on Friday, boosted as U.S. crude producers added only two rigs in the latest week and on signs of increased Chinese demand, but trading was volatile as global…
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Iran Crude Prices Up, Exports Above 2 mbpd
EghtesadOnline: Iran's crude oil traded at about $43 per barrel in the week to June 30 amid concerns about rising US crude inventories and limited impact of an OPEC-led scheme to reduce supplies…
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Oil prices rise on first drop in U.S. drilling in months
EghtesadOnline: Oil prices rose on Monday, lifted by the first fall in U.S. drilling activity in months, although gains were capped by reports of rising OPEC output last month even as the group…
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All eyes on July for U.S. oil demand to drain glut
EghtesadOnline: U.S. oil traders are hoping the sweltering days of July are also hot ones for demand, believing the new month is the last best opportunity this year to see the overhang of inventories…
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Stocks Are Ignoring Oil's Bear Market
EghtesadOnline: The bear market in crude in many ways resembles its more severe predecessors from 2014 and 2016: oil prices plummeting, non-U.S. producers floundering to keep supply at bay and…
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Iran blames high US output for falling oil prices
EghtesadOnline: Iran has blamed a recent rise in US oil production for the plunge in global prices of crude oil.
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Oil prices dip on further rise in U.S. drilling, demand slowdown
EghtesadOnline: Oil prices dipped on Monday, weighed down by a continuing expansion in U.S. drilling that has helped to maintain high global supplies despite an OPEC-led initiative to cut production…
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Oil Set for Longest Run of Weekly Losses Since 2015 Amid Glut
EghtesadOnline: Oil headed for the longest run of weekly losses since August 2015 as U.S. crude stockpiles remain stubbornly high and as Libyan production climbs toward the most in four years.
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Oil prices fall on OPEC output increase, rising U.S. crude stocks
EghtesadOnline: Oil prices fell around 1 percent on Wednesday after data showed a build in U.S. crude stocks and OPEC reported a rise in its production despite its pledge to cut back on output.
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Oil in the $50s Is New Reality for CEOs Gathering in Russia
EghtesadOnline: A crude price in the $50s is the new reality for bosses of some of the world’s largest producers as output caps from OPEC and its allies are balanced out by rising U.S. shale.
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Oil falls as U.S. drilling undermines drive to tighten markets
EghtesadOnline: Oil prices fell on Monday as a relentless rise in U.S. drilling undermined an OPEC-led push to tighten supply.
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Trump's Bid to Sell U.S. Reserve Oil Could Undermine OPEC Cuts
EghtesadOnline: President Donald Trump has proposed selling off more than half of the U.S. emergency oil stockpile, potentially putting more crude on the global market and undermining OPEC’s…
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Oil dips on rising U.S. crude inventories, defies expected supply cut extension
EghtesadOnline: Oil prices fell on Wednesday after data showed an increase in U.S. crude inventories, stoking concerns that markets remain oversupplied despite efforts by top producers Saudi…
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Oil gives up earlier gains as rising US output, China concerns weigh
EghtesadOnline: Oil prices gave up earlier gains on Tuesday, as concerns over slowing demand and a relentless rise in U.S. crude output undermined the impact of hopes that OPEC-led production…
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Oil prices rise on expectation of output cut extension
EghtesadOnline: Oil prices rose on Monday as Saudi Arabia's energy minister said an OPEC-led production cut scheduled to end in June would likely be extended to cover all of 2017, although a…
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Oil rebounds on U.S. stocks drawdown, declining OPEC compliance weighs
EghtesadOnline: Crude oil prices bounced back on Wednesday as a decline in U.S. inventories underpinned the market, although a dip in compliance with OPEC efforts to reduce output and near record…
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Oil falls on bulging U.S. crude inventories, record global supplies
EghtesadOnline: Oil prices resumed their downward trend on Wednesday as data showed a rise in U.S. crude inventories and record supplies in the rest of the world cast doubt on OPEC's ability…
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Oil falls after failed North Korean missile test, U.S. rig count gains
EghtesadOnline: Crude oil fell in quiet trading on Monday, after the three-day Easter break, on signs the United States is continuing to add output, undermining OPEC efforts to support prices,…
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Aramco CEO Sees Oil Market Closer to Balance Despite U.S. Boom
EghtesadOnline: The global oil market is moving closer to balance even as increases in U.S. oil production push prices down in the short-term, Saudi Arabian Oil Co. Chief Executive Officer Amin…