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Saudi-Russia Oil Policy Shift

May.28 — Oil is heading for its longest run of losses in almost four months as Saudi Arabia and Russia discuss reviving output. That comes as they aim to ease consumer anxiety after prices jumped to levels last seen in 2014. Russian Energy Minister Alexander Novak says no one in OPEC is interested in seeing an overheated market. He spoke to Bloomberg’s Annmarie Hordern at the St. Petersburg International Economic Forum. …read more […]

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Oil sinks while global stocks gain on North Korea, euro shaken by Italy

U.S. oil futures sank to six-week lows on Monday on expectations that major producers may raise output, while Asian stocks and U.S. share futures gained on signs the United States and North Korea were still working towards holding a summit. The euro bounced back from a 6-1/2-month low after the Italian president rejected a eurosceptic as a key economy minister. …read more […]

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Oil sinks while stocks gain on North Korea, euro shaken by Italy

U.S. oil futures sank to six-week lows on Monday on expectations that major producers may raise output, while Asian stocks and U.S. share futures gained on signs the United States and North Korea were still working towards holding a summit. The euro bounced back from a 6-1/2-month low after the Italian president rejected a eurosceptic as a key economy minister. …read more […]

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Trump threatens another shutdown as budget battle heats up

President Donald Trump has warned Congress that he will never sign another foot-tall, $1 trillion-plus government-wide spending bill like the one he did in March. After a brief government shutdown earlier this year, Democrats and Republicans now agree on the need for budgeting day-to-day operations of government the old-fashioned way. …read more […]

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Oil prices fall as top three producers look to boost supplies

Oil prices fell on Monday, extending a steep decline in the previous session, as the market eyed an increase in output from the world’s three top crude producers, Russia, the United States and Saudi Arabia. Brent crude futures (LCOc1) were at $75.34 per barrel at 0124 GMT, down $1.10, or 1.4 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $66.31 a barrel, down $1.57, or 2.3 percent. …read more […]