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Oil market

Oil steady as Russia indicates support for extending output cuts

Oil prices held on to gains from the previous session on Friday, after Russian President Vladimir Putin indicated he would be prepared to extend record supply cuts in the face ...
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Oil Prices on Track for Weekly Losses

Oil futures gained ground Friday but remained on track for weekly losses, dogged by supply concerns as output from Libya rises, along with worries about crude demand as the number ...
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Oil Struggles to Recover after U.S. Gasoline Stocks Build

Oil prices ticked up on Thursday but struggled to fully recover from the previous session’s losses when a build in U.S. gasoline inventories signalled a deteriorating outlook for fuel demand ...
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Oil Slips, U.S. Inventory Build Stokes Fears of Supply Glut

Oil prices eased on Wednesday after a surprise build-up in U.S. crude stockpiles stoked concerns about a global supply glut even as a spike in global COVID-19 cases fuelled fears ...
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Oil Prices Slip after Rise in U.S. Crude Inventories

Oil futures traded lower Wednesday, under pressure after data from an industry trade group show a rise in U.S. crude inventories.West Texas Intermediate crude for December delivery was down 69 ...
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Oil Drops for 4th Day as COVID19 2nd Wave Worries Intensify

Oil prices slipped for a fourth straight day on Tuesday on worries a resurgence of coronavirus cases globally is stifling a promising recovery in fuel demand, while growing output from ...
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Oil Pprices Steady Though Virus Surge Stokes Demand Worries

Oil futures traded little changed early Tuesday though a surge in COVID-19 cases in Europe and the U.S. remains a concern as it is seen limiting energy demand . Meanwhile, ...
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Oil Prices Decline after China Economic Data Disappoints

Oil prices fell on Monday after reports that China’s third-quarter economic growth did not rise as much as expected, underscoring concerns that surging coronavirus cases globally are impacting demand in ...
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Oil Struggles for Direction, Libya Boosts Output

Oil futures traded near unchanged Monday as investors monitored accelerating COVID-19 infections in the U.S. and Europe, while a meeting of an OPEC+ committee will be closely watched by investors ...
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Oil in no Rush to Decline, Despite Lower Demand for Risks

Despite the lower demand for risk assets this week, oil was able to gain support from the inventory report yesterday. Buyer support came in handy, allowing oil to stay above ...
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Oil Slides on COVID19 Resurgence, Strong Dollar

Oil prices slid on Friday dragged down by concerns that a spike in COVID-19 cases in Europe and the United States is curtailing demand in two of the world’s biggest ...
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OPEC Fears 2nd Virus Wave Could Lead to Oil Surplus in 2021

OPEC and its allies fear a prolonged second wave of the COVID-19 pandemic and a jump in Libyan output could push the oil market into surplus next year, according to ...
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Oil Falls, Demand Concerns Set Prices up for Loss on Week

Oil futures lost ground Friday, prompting prices to turn lower for the week, as an accelerating rise in COVID-19 cases in the U.S. and Europe heightens worries about demand for ...
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U.S. Oil Falls below 40 as New Coronavirus Lockdowns Weigh

Oil futures fell Thursday, with the U.S. benchmark dropping back below $40 a barrel as rising COVID-19 infections result in renewed restrictions on movement in several European countries and the ...
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Oil Slips as Rising Coronavirus Cases Stoke Demand Concerns

Oil prices slipped on Wednesday on concerns that fuel demand will continue to falter as rising coronavirus cases across Europe and in the United States, the world’s biggest oil consumer, ...
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