Friday, July 3, 2020

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Oil Extends Slide Below $32 on Signs U.S. Stockpiles Swelled

Oil Extends Slide Below $32 on Signs U.S. Stockpiles Swelled

(Bloomberg) -- Oil extended its drop to trade below $32 a barrel after a U.S. industry report signaled crude inventories swelled for the first time...
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Oil Climbs Above $34 on Hopes Market May Balance in Coming Weeks

Oil Climbs Above $34 on Hopes Market May Balance in Coming Weeks

(Bloomberg) -- Oil rose above $34 a barrel following a prediction from Russia that the market may rebalance as early as next month after historic...
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In Gloomy Oil Market, India Pump Prices Echo $100-Plus Crude

In Gloomy Oil Market, India Pump Prices Echo $100-Plus Crude

(Bloomberg) -- Crude oil has plummeted to about $30 a barrel from $115 when Prime Minister Narendra Modi first came to power six years ago,...
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Global Oil Demand Starts a Long, Painful and Uncertain Recovery

Global Oil Demand Starts a Long, Painful and Uncertain Recovery

(Bloomberg) -- Few have a better watchtower over oil demand than Joe Gorder, chief executive officer of major U.S. refiner Valero Energy Corp. But this...
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Rare Oil-Price Dislocation Gives Asia a Profitable Arbitrage

Rare Oil-Price Dislocation Gives Asia a Profitable Arbitrage

(Bloomberg) -- China’s head-start on the path to recovery in oil demand is giving traders a rare opportunity to profit as coronavirus lockdowns continue to...
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Oil Is No Longer the Nemesis of Emerging Markets

Oil Is No Longer the Nemesis of Emerging Markets

(Bloomberg) -- Time was when an oil-price rout almost certainly meant a currency meltdown in emerging markets. Now, it’s failing to cause as much as...
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Oil Retreats After Sharp Rally on Doubts Over Price-War Truce

Oil Retreats After Sharp Rally on Doubts Over Price-War Truce

(Bloomberg) -- Oil gave up some of last week’s rally after a delay to a planned meeting of top producers to discuss output curbs and...
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Oil Plummets to 17-Year Low as Broken Market Drowns in Crude

Oil Plummets to 17-Year Low as Broken Market Drowns in Crude

(Bloomberg) -- Oil slumped to a 17-year low as coronavirus lockdowns cascaded through the world’s largest economies, leaving the market overwhelmed by cratering demand and...
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The Global Oil Market Is Broken, Drowning in Crude Nobody Needs

The Global Oil Market Is Broken, Drowning in Crude Nobody Needs

(Bloomberg) -- The global oil market is broken, overwhelmed by an unmanageable surplus as virus lockdowns cascade through the world’s largest economies. Onshore tanks in many...
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Shale Drillers Are Staring Down Barrel of Worst Oil Bust Yet

Shale Drillers Are Staring Down Barrel of Worst Oil Bust Yet

(Bloomberg) -- America’s shale drillers have never faced an oil bust quite like this. The split between Russia and its one-time OPEC allies last week has ignited...
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