Prices down for second straight day U.S. inventories rise by 1.6 mln barrels China warns U.S. of consequences over Hong Kong law LONDON/TOKYO, Nov 28 (Reuters) – Oil prices fell for a second day on Thursday after official data showed U.S. crude and gasoline stocks rose and President Donald Trump signed into law a bill …
Continue reading “Oil falls as U.S. rights bill fuels tensions with China”
Russian oil producers meet energy minister Oil firms propose keeping quotas unchanged until end of March Companies support excluding gas condensate from output data MOSCOW, Nov 28 (Reuters) – Russian oil companies proposed on Thursday not to change their output quotas as part of a global deal until the end of March, when the current …
Continue reading “Russia signals no change to its oil quotas at next week’s OPEC+ meeting”
President Trump tried to distance himself from his personal lawyer Rudy Giuliani’s efforts related to Ukraine on Tuesday in an interview with radio host Bill O’Reilly. In the interview for BillOReilly.com, O’Reilly asked the president what Giuliani was, “doing in Ukraine on your behalf.” “Well, you have to ask that to Rudy, but Rudy, I …
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SEOUL, Nov 28 (Reuters) – Breaking a month-long lull in missile tests, North Korea fired two short range projectiles into the sea off its east coast on Thursday in what appeared to be the latest try out its new multiple rocket launchers, South Korea’s military said. The test-firing came as the clock ticks down on …
Continue reading “N.Korea test fires rockets in Thanksgiving reminder of year-end deadline for U.S.”
Fed Chairman Jerome Powell said in remarks Monday in Rhode Island that ’it is essential that we at the Fed use our tools to make sure that we do not permit an unhealthy downward drift in inflation expectations and inflation.’ Photo: brendan mcdermid/Reuters The Federal Reserve Bank of New York added $108.95 billion in temporary …
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U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.6 million barrels from the previous week. At 452.0 million barrels, U.S. crude oil inventories are about 3% above the five year average for this time of year. U.S. crude oil refinery inputs averaged 16.3 million barrels per day during …
Continue reading “EIA Petroleum Report week ending November 22, 2019”
“Presidents are not kings.” Those words from a 120-page decision by US District Court Judge Ketanji Brown Jackson A federal judge has ruled that White House staff can be made to testify before Congress, rejecting the Trump administration’s claims of immunity. The ruling specifically compels former White House counsel Don McGahn to testify to an …
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The American Petroleum Institute (API) has estimated a crude oil inventory build of 3.639 million barrels for the week ending November 21, compared to analyst expectations of a 418,000-barrel draw in inventory. Last week saw a build in crude oil inventories of 5.954 million barrels, according to API data. After today’s inventory move, the net …
Top oil producers that are cooperating with the Organization of the Petroleum Exporting Countries (OPEC) on output cuts are pressuring OPEC, but OPEC needs to come up with the “right” call to safeguard the global economy which is “very fragile,” International Energy Agency (IEA) Executive Director Fatih Birol said on Tuesday. The Turkish energy expert …
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Rising U.S. stocks could quickly reverse themselves on the slightest shift in momentum There are two pieces of news on the U.S.-China trade deal for investors to know today. First, China is promising more protection for intellectual property. Second, despite contradictory media reports about a trade deal, there is some credibility to Gao Lingyun, an …
Continue reading “Optimism over U.S.-China trade deal could easily turn into pessimism”