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[Barbara Kollmeyer, MarketWatch] If commodity bulls aren’t feeling the love in 2017 so far, they may get closer after Citigroup threw out a couple of upbeat calls on oil and copper this week. “Citi retains its bullish view on both crude oil and copper for 2017, seeing Brent potentially touching (around) $70/bbl. and LME copper […]

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[Gillian Rich, Investor’s Business Daily] US crude stockpiles rose for the sixth straight week, according to Energy Information Administration data out Wednesday, but inventories were down at the key delivery hub in Cushing, Okla. Oil prices reversed higher then turned lower again, with U.S. crude down 0.5% to $52.94 per barrel and Brent down 0.5% […]

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[Allen Sykora of Kitco News] Main Street and Wall Street alike look for gold’s 2017 rally to continue next week, according to the Kitco News gold survey. Eighteen traders and analysts took part in a weekly Wall Street survey. Ten voters, or 56%, see gold prices rising by next Friday. Three, or 17%, said lower, […]

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[CNBC via Reuters] Oil prices rose on Friday after reports that OPEC members delivered more than 90 percent of the output cuts they pledged in a landmark deal that took effect in January. Supply from the 11 members of the Organization of the Petroleum Exporting Countries with production targets under the deal fell to 29.92 […]

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[Myra Saefong, MarketWatch] Oil prices on Thursday looked set to extend their gains to a second straight session, after data released a day earlier showed a surprise decline in U.S. gasoline supplies, along with strong weekly demand for the fuel. Analyst said the figures helped to offset the second-largest weekly climb on record in crude […]

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[Gillian Rich, Investor’s Business Daily] U.S. crude stockpiles soared last week, according to the Energy Information Administration Wednesday, but oil prices increased on declines in gasoline and distillate inventories. The EIA said U.S. oil stockpiles jumped by 13.8 million barrels vs. the 2.5 million-barrel rise analysts expected. The American Petroleum Institute reported a 14.2 million-barrel […]

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[Myra Saefong, MarketWatch] Oil futures settled lower on Monday, suffering their largest one-day loss since mid-January as concerns over the potential for a significant climb in U.S. crude output and some strength in the U.S. dollar helped prices erase last week’s gain. News that the Trump administration is poised to ease some restrictions on energy […]

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[Jessica Summers, Bloomberg.] Investors are betting big that OPEC’s cuts are real. Money managers are the most bullish ever on West Texas Intermediate crude for a second week as signs show OPEC and other nations are slashing production. The group cut supply by 840,000 barrels a day last month, according to a Bloomberg survey, and […]

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Oil Higher in Early Wednesday Trade

On February 1, 2017 - 2:22 PM By

George Orwel, DTN Energy Reporter. Spot-month New York Mercantile Exchange oil futures extended higher at the start of regular trade Wednesday morning ahead of the midmorning release of the Energy Information Administration’s oil report that covers the week-ended Jan. 27 that’s expected to show a stock draw for domestic refined oil products and a build […]

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Oil Futures Rally Thursday

On January 27, 2017 - 6:47 AM By

George Orwell, DTN Energy Reporter. Spot-month New York Mercantile Exchange oil futures settled higher Thursday afternoon after positive sentiment spurred by this week’s rally in U.S. equities and the prospect of tightening global supply triggered short-covering. The blue-chip Dow Jones Industrial Average edged higher, consolidating gains after crossing above the psychologically important 20,000 points for […]

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Bloomberg via BOE Report. Oil climbed to the highest in almost three weeks as optimism increased that OPEC and other producing nations would adhere to their pledged output cuts. Futures rose 2 percent in New York. OPEC and other producers are likely to fully comply with the curbs, bringing global crude markets into balance early […]

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Devika Krishna Kumar, Reuters. Oil prices fell about 1 percent on Monday as signs of a strong recovery in U.S. drilling overshadowed news that OPEC and non-OPEC producers were on track to meet output reduction goals. Ministers representing members of the Organization of the Petroleum Exporting Countries and non-OPEC producers said at a meeting in […]

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