Oil near 4-yr high as producers resist output rise to offset Iran sanctions

Oil near 4-yr high as producers resist output rise to offset Iran sanctions

article Oil prices on Tuesday were within reach of four-year highs hit in the previous session, as looming U.S. sanctions against Iran and unwillingness by the Organization of the Petroleum Exporting Countries (OPEC) to raise output supported the market. Continue Reading Below Brent crude futures were at $81.45 per barrel at 0421 GMT, up 25 cents, or 0.3 percent, and close to the intraday peak touched the previous day at $81.48, the highest level since…

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Oil at 4-year high after OPEC rebuffs Trump, fails to raises output

Oil at 4-year high after OPEC rebuffs Trump, fails to raises output

Oil prices jumped more than 2 percent to a four-year high on Monday after OPEC declined to announce an immediate increase in production despite calls by U.S. President Donald Trump for action to raise global supply. Continue Reading Below Benchmark Brent crude hit its highest since November 2014 at $80.94 per barrel, up $2.14 or 2.7 percent, before easing back to around $80.65 by 0915 GMT. U.S. light crude was $1.50 higher at $72.28. OPEC…

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Oil prices rise on supply concerns ahead of producers meeting

Oil prices rise on supply concerns ahead of producers meeting

Oil ends lower after Trump’s tweet on OPEC Oil slid after President Trump tweeted about OPEC being a monopoly that must try to lower prices. The Price Futures Group’s Phil Flynn says the president has the right to criticize OPEC. Oil prices rose on Friday ahead of a meeting of OPEC and other large crude exporters that will focus on production increases as U.S. sanctions restrict Iranian exports. Continue Reading Below OPEC and its allies…

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Oil steady, supported by US stocks and supply concerns

Oil steady, supported by US stocks and supply concerns

Oil prices steadied on Thursday but the market remained bullish after news of another fall in U.S. crude inventories and on signs that OPEC may not raise production enough to compensate for the loss of Iranian exports hit by U.S. sanctions. Continue Reading Below Brent crude oil was unchanged at $79.40 a barrel by 0910 GMT, stabilizing a little below the $80 mark. U.S. light crude oil was 40 cents higher at $71.52 after rising…

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Oil steady as output concerns outweigh supply gain

Oil steady as output concerns outweigh supply gain

Oil prices were steady on Wednesday as concerns that producers will not be able to respond to a shortfall in supply once U.S. sanctions on Iran are enacted outweighed a gain in stockpiles in the United States, the world’s biggest oil user. Continue Reading Below Brent crude futures were down 9 cents at $78.92 per barrel 0334 GMT, after rising 1.3 percent in the previous session. U.S. West Texas Intermediate (WTI) crude futures were down…

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Oil prices fall on US-China trade war concerns

Oil prices fall on US-China trade war concerns

Oil markets slipped on Tuesday as the latest escalation in the Sino-U.S. trade war clouded the outlook for crude demand from the two countries, the world’s top crude consumers. Continue Reading Below Brent crude futures had dropped 29 cents, or 0.37 percent, to $77.76 per barrel by 0632 GMT. U.S. West Texas Intermediate (WTI) crude was down 15 cents, or 0.22 percent, at $68.76 per barrel. U.S. President Donald Trump on Monday said he would…

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FedEx quarterly profit misses Wall Street estimate

FedEx quarterly profit misses Wall Street estimate

FedEx Corp reported quarterly profit that missed Wall Street estimates on Monday, as employee compensation and other expenses weighed on margins. Continue Reading Below More from FOX Business The Memphis-based package delivery company’s net profit rose to $835 million, or $3.10 per share, for the fiscal first quarter ended Aug. 31, up from $596 million, or $2.19 per share, a year earlier. Profit excluding items was $3.46 per share, missing analysts’ average estimate of $3.81,…

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Oil prices inch up on supply concerns

Oil prices inch up on supply concerns

article Global oil prices edged up from early losses on Monday despite assurances from Washington that Saudi Arabia, Russia and the United States can raise output fast enough to offset falling supplies from Iran and elsewhere. Continue Reading Below U.S. Energy Secretary Rick Perry said in an interview with Reuters on Friday that he does not foresee any price spikes and that the countries, the world’s top three oil producers, can between them raise global…

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Oil prices claw back on supply concerns

Oil prices claw back on supply concerns

article Oil on Friday clawed back some of its losses from the previous session, when prices fell the most in a month, with concerns about supply countering worries that emerging market crises and trade disputes could dent demand. Continue Reading Below Brent crude was up 3 cents at $78.21 a barrel by 0634 GMT, after falling 2 percent on Thursday. The global benchmark rose on Wednesday to its highest since May 22 at $80.13. U.S….

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Kroger misses same-store sales estimates as revamp deters customers

Kroger misses same-store sales estimates as revamp deters customers

(Reuters) – U.S. supermarket chain Kroger Co missed quarterly same-store sales estimates on Thursday, sending shares down 9.2 percent in premarket trading, as changes to the way it stocks merchandise on shelves kept some customers away from its stores. Continue Reading Below Under its “Restock” program launched this year, the largest U.S. supermarket operator with $123 billion in 2017 sales has been adjusting product assortments, rearranging store layouts and highlighting private label brands on its…

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