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By Mark Shenk | BloombergBusiness Oil advanced after a government report showed that U.S. crude production dropped from the highest level in more than three decades. Futures rose as much as 4.4 percent in New York. Output fell 36,000 barrels a day to 9.39 million last week, the first decline since January, according to the [...]

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The Globe and Mail | Global oil supplies show few signs of ebbing, as producers from OPEC to Canada keep pumping crude despite months of sinking prices. A Reuters survey showed members of the Organization of Petroleum Exporting Countries boosted output in March to its highest level since last October, adding more supply concerns to [...]

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PRICE Links Video Series Access commentaries by the industry’s top market analysts straight from the floor of the CME Group. Hosted by PRICE Futures Group’s Senior Analyst Phil Flynn. USDA Planting Intentions Preview with Jack Scoville! PRICE Futures Group’s Senior Analyst Phil Flynn discusses expectations on Tuesday’s Planting Intentions Report with Grains and Softs analyst [...]

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RECORDER REPORT | Business Recorder via Reuters | Hedge funds and other big speculators in oil have cut their bullish wagers on US crude to December lows, data showed on Friday, signalling the possibility of more pain for oil prices after last month’s rebound. US West Intermediate (WTI) crude has risen nearly 15 percent since the [...]

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By The Associated Press via ABC News | The price of oil rose sharply on Thursday as mounting tensions in Yemen got traders worried that the flow of crude from the Persian Gulf region could be disrupted. Saudi Arabia and other Gulf states launched strikes on key military installations in Yemen. They aim to oust Shiite [...]

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By CHRIS ARNOLD | KTEP.org It’s not just Benjamin Netanyahu and other world leaders who are scrutinizing the Iran negotiations. Oil traders are, too. That’s because there’s already an oil glut, and an Iran deal could lift sanctions and mean even more oil. “Even the thought that Iranian oil could be unleashed on the global [...]

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Mar. 18, 2015 – 0:59 – Fox News Contributor Phil Flynn of Price Futures Group discusses why oil continues to selloff. Watch the latest video at video.foxbusiness.com http://video.foxbusiness.com/v/4119907870001  

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Oil faces at 7-session losing streak

On March 18, 2015 - 10:35 AM By

Myra P. Saefong | MarketWatch West Texas Intermediate crude futures were ready to log a seventh straight session of losses on Wednesday, with prices posting fresh six-year lows on mounting worries over rising supplies. April crude CLJ5, -2.83%  slumped $1.31, or 3%, to $42.15 a barrel on the New York Mercantile Exchange, adding to a [...]

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By Myra P. Saefong | MarketWatch The U.S. Energy Department plans to buy up to five million barrels of crude oil for the Strategic Petroleum Reserve, a government spokeswoman confirmed to MarketWatch on Friday. The news couldn’t have come at a better time. With crude prices down roughly 15% year to date, the government would [...]

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by Lynn Doan & Barbara Powell | BloombergBusiness The United Steelworkers union representing 30,000 U.S. oil workers reached a tentative deal on a four-year contract with Royal Dutch Shell Plc, potentially ending a nationwide strike that has lasted for over a month. The proposed deal includes annual wage increases and maintains the cost-sharing ratio of [...]

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BY PENNYSTOCK CHRONICLE via Investor Wired Transports benefit from continued low oil prices because “even if prices do their normal seasonal run, it’s going to be cheaper than a year ago,” said Phil Flynn, energy market analyst at Price Futures Group. Oil futures extended losses on Wednesday after government data showed U.S. commercial crude inventories [...]

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Hosted by William Watts | MarketWatch Can the U.S. shale-oil industry survive what appears to be a full-on price war? Saudi Arabia and OPEC refuse to let up on oil production, while proclaiming the need for non-OPEC producers to bear the burden of rebalancing supply and demand. Meanwhile, rig counts in the U.S. are falling, but oil [...]

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