Don't expect oil shocks to move the Fed

WASHINGTON (Reuters) – The weekend bombings of Saudi Arabia’s main oil refinery have already sparked U.S. President Donald Trump to pressure the Federal Reserve anew to lower rates. The Fed should enact a “big interest rate drop, stimulus,” at its meeting this week, which ends Wednesday, Trump said on Twitter on Monday. However historical precedent and the United States’ changing […]

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Oil soars 10% after attack on massive Saudi oil facilities

NEW YORK (Reuters) – Oil futures jumped 10% on Monday after an attack on Saudi Arabian crude oil processing facilities over the weekend sliced the kingdom’s production in half and threatened to hamper shipments from the world’s largest crude exporter. Prices initially surged more than 20% after the open on Sunday evening, with Brent crude posting its biggest intraday gain […]

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Odds of $100 Oil Surge

Is it unimaginable that oil prices could reach $100 a barrel? No. Crude prices reached that point just over a decade ago. Drone attacks on Saudi oil fields pushed the price of Brent crude futures up from $60 to $68 the day after the catastrophe. This incident will not lift crude to $100, but some experts believe attacks on oil […]

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Oil prices surge as attack on Saudi facility disrupts output

Iran is trying to create an economic crisis by seizing oil tankers: Gen. Jack Keane Fox News’ Ellison Barber and Gen. Jack Keane (Ret.) discuss how Iran claimed that they stole another oil tanker in the Strait of Hormuz. An attack on Saudi Arabia's largest oil processing plant pushed crude prices sharply higher Monday. Continue Reading Below Traders are focusing […]

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Saudi Arabia makes oil power play

Weaker oil demand on the way? The Schork Report Publisher Stephen Schork on the oil market and the future of the Saudi Aramco IPO. Saudi Arabia removed energy minister Khalid al-Falih, replacing him with Prince Abdulaziz bin Salman, the son of the king and half-brother of the crown prince. Continue Reading Below Prince Abdulaziz bin Salman's appointment to energy minister, […]

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Oil hovers around $60 as U.S.-China trade tensions weigh

Oil market weighed down more by trade tensions than Iran worries? Lipow Oil Associates President Andy Lipow on the outlook for oil prices. Oil prices rebounded slightly on Tuesday from big falls in recent sessions, but Brent crude remained near seven-month lows around $60 a barrel due to escalating trade tensions between China and the United States. Continue Reading Below Brent […]

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Oil prices edge higher on Chinese economic data

LONDON (Reuters) – Oil prices rose slightly on Monday as Chinese industrial output and retail data topped expectations but gains were capped by overall figures showing the country’s slowest quarterly economic growth in decades. The positive Chinese data may indicate early success in the government’s stimulus efforts and potentially more oil demand in the world’s second biggest economy. Brent crude […]

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