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Mark Shenk & Grant Smith, Bloomberg. Oil dropped in New York, reversing earlier gains, after the head of the International Energy Agency predicted a rebound in U.S. supply. Futures fell as much as 2.4 percent after IEA Executive Director Fatih Birol said that higher oil prices will trigger a “significant” boost in U.S. shale output as […]

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US Could Be Energy Independent by 2026

On January 12, 2017 - 12:35 PM By

Emel Akan, Epock Times. The United States could be energy independent for the first time since 1953. Declining energy imports and growing energy exports could make the United States a net energy exporter by 2026, according to a report by the U.S. Energy Information Administration (EIA). “The United States could be completely … energy independent,” EIA […]

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New York (Platts)– Oil futures fell Monday as record-high exports from Iraq’s southern crude terminals and rising US drilling activity sowed doubts over the effectiveness of OPEC’s agreed supply cuts. NYMEX February crude settled $2.03 lower at $51.96/b. ICE March Brent settled down $2.16 at $54.94/b. Iraqi crude exports from southern ports averaged a record […]

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ForexTV.com via MarketWatch. The American Petroleum Institute late Tuesday reported a rise in U.S. crude supplies that was slightly below some market expectations, along with a hefty, unexpected jump in distillate inventories, according to sources. Data revealed a rise of 1.5 million barrels in U.S. crude supplies for the week ended Jan. 6. Analysts polled […]

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Oil Higher Ahead of EIA Report

On January 5, 2017 - 3:44 PM By

George Orwel, DTN Energy Reporter. New York Mercantile Exchange oil futures gained at the start of regular trade Thursday morning in front of oil supply data from the Energy Information Administration due at 11:00 AM ET that’s expected to show U.S. crude stockpiles declined while product stocks increased during the final week of 2016. Late […]

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The Wall Street Journal | American Petroleum Institute data late Wednesday showed a drop of 7.4 million barrels in crude supplies last week. Oil prices moved higher Wednesday as the dollar fell and analysts said they were expecting that U.S. stockpiles had declined last week. Light, sweet crude for February delivery settled up 93 cents, […]

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Gillian Rich, Investor’s Business Daily. OPEC members are notorious for cheating on production caps within the cartel, but this time around Goldman Sachs (GS) expects a “relatively high compliance” rate. In a note out Wednesday, Goldman analysts said they see an 84% compliance rate with the current output deal. “From a Saudi fiscal perspective, a moderate […]

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By Lucy Craymer, MarketWatch. Russian Ambassador to Turkey Andrey Karlov killed in Turkey. Oil prices ended modestly higher Monday in up-and-down trade amid news that a Russian ambassador to Turkey was shot and killed in Ankara. Traders said news of the murder of Ambassador Andrey Karlov raised concerns about geopolitical risks and helped to push […]

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By ALISON SIDER and Sarah McFarlane, The Wall Street Journal. OPEC members, including Kuwait, have notified customers that cuts are coming. Oil prices rose Friday amid signals that major oil producers will stick to their agreement to cut production next year. U.S. crude futures gained 84 cents, or 1.65%, to $51.74 a barrel on the […]

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Oil prices fall to lowest levels in a week

On December 15, 2016 - 10:42 AM By

By Myra Saefong, MarketWatch. Fed-induced dollar strength, downbeat OPEC report pressure oil. Oil prices headed lower Thursday, set to the lowest finish in a week, pressured as the Federal Reserve’s decision to raise interest rates for the first time in 12 months strengthened the dollar and energy traders fretted over recent data showing that OPEC […]

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Natural Gas Rises on Colder Weather Forecasts

On December 14, 2016 - 11:00 AM By

By Stephanie Yang, The Wall Street Journal. Investors remain upbeat on the prospect of colder temperatures and heightened winter demand. Natural-gas prices rose Wednesday as investors remained upbeat on the prospect of colder temperatures and heightened winter demand. Futures for January delivery were recently up 4.6 cents, or 1.3%, at $3.520 a million British thermal […]

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By Gillian Rich, Investor’s Business Daily. Non-OPEC producers agreed to cut output and Saudi Arabia said it would cut more than it previously promised over the weekend, but questions remain on how credible and verifiable the deals will be. Nonmembers agreed Saturday to cut output by 558,000 barrels per day: with Russia cutting production by  300,000 barrels […]

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