US oil posts worst settlement since April 20, closes 3.7 pct lower, at $40.06

US oil posts worst settlement since April 20, closes 3.7 pct lower, at $40.06 U.S. crude prices on Monday settled sharply lower after briefly breaking below $40 a barrel for the first time since April, weighed by a survey showing output in OPEC reached record highs last month amid the biggest addition of U.S. oil
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Why oil will drop to $35 by end of summer The state of the oil market these days can be summed up in a four-letter word—no, not one those salty terms, by a powerful, unoffending term: glut. After peaking in early June, near $52, WTI oil prices have fallen upwards of twenty percent, getting under
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Saudi Arabia Oil Demand Growth at 6-Year Low as Economy Sputters Oil consumption in Saudi Arabia, the world’s biggest crude exporter, is expanding at the slowest pace in at least six years as low energy prices hurt economic growth. The kingdom’s demand for oil increased by an average of 24,000 barrels a day in the
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Oil and gas are trading in a ‘bizarro world’: Tom Kloza After a strong first half of the year, oil just posted its worst month since July 2015. Despite fears that the commodity could retest the mid-$30 range, one closely-followed oil watcher is especially bullish on where energy is heading in the coming months and
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Yen Spike Sinks Nikkei 225 Futures on BOJ Day; Oil Extends Slump Yen Spike The yen jumped, weighing on Tokyo equity-index futures, amid jittery trade ahead of Friday’s much-anticipated policy review from the Bank of Japan. Oil was on track for its third weekly decline in a month. Futures on Japan’s Nikkei 225 Stock Average
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