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Oil prices fall for a third day as OPEC+ uncertainty lingers

[ad_1] SINGAPORE: Oil prices fell for a third day on Thursday amid anxiety that supply may rise after the collapse this week of talks among major producers, potentially causing the current output agreement to be abandoned. Brent crude oil futures were down 43 cents, or 0.6%, at $73 a barrel by

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Oil falls but sentiment stays strong on demand recovery hopes

[ad_1] TOKYO: Crude dropped on Tuesday as investors cashed in on a recent rally, but market sentiment remained solid on hopes for a quick recovery in demand in the US and European markets and fading expectations for an early return of Iranian crude. Brent crude futures for August eased 10

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Oil slips as start of US summer driving season fails to lift fuel demand

[ad_1] SINGAPORE: prices slid on Thursday as inventory data in the United States, the world's top oil consumer, showed a surge in gasoline stocks that indicates weaker-than-expected fuel demand at the start of summer, the country's peak season for motoring. Brent crude oil futures were down 34 cents, or 0.5%,

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Oil extends losses as Texas prepares to ramp up output

[ad_1] NEW YORK: Oil prices fell for a second day on Friday, retreating further from recent highs as Texas energy companies began preparations to restart oil and gas fields shuttered by freezing weather. Brent crude futures were down 33 cents, or 0.5%, at $63.60 a barrel by 11:06 a.m. (1606 GMT)

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Oil in longest rally in two years as vaccines boost demand hopes

[ad_1] NEW YORK: Oil rose on Wednesday, extending its rally for a ninth day, its longest winning streak in two years, supported by producer supply cuts and hopes vaccine rollouts will drive a recovery in demand. US crude inventories fell unexpectedly in the week, dropping 6.6 million barrels according to the

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Oil prices anticipate tight market by mid-2021

[ad_1] By John Kemp U.S. petroleum inventories are falling towards more normal levels as the glut earlier this year caused by volume warfare among OPEC+ members and the first wave of epidemic-driven lockdowns is gradually absorbed. Falling inventories are likely to herald a tighter production-consumption balance and a cyclical upswing in both

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Oil heavyweights Saudi Arabia and Russia look ready for a showdown

[ad_1] By Julian Lee Oil producers could be set for another showdown before the end of the year, with heavyweights Saudi Arabia and Russia holding different views on how to approach the halting recovery in oil demand. Renewed restrictions on travel and social gatherings across Europe, along with the tapering of state

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Oil edges up to $42, eyeing Libya and U.S. inventories

[ad_1] LONDON: Oil edged up to around $42 a barrel on Wednesday after a report said U.S. fuel inventories fell, although rising crude supply and growing numbers of coronavirus cases that raise concern of stalling demand capped gains. The American Petroleum Institute, an industry group, said stocks of gasoline and distillate

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