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Tag: Opec

Bank of Ireland attracts interest as markets generally flat

Borrowing costs and rising oil prices dampened any gains on the European and US markets in the final session of the week. The Iseq index closed marginally higher as markets prepared for a holiday weekend in the US and UK. Meanwhile, potential political turmoil in Spain and Italy rocked Europe’s markets. Dublin Traders said the […]

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Markets trend down as US-China trade talks hit obstacle

Global stocks sold off while investors raced for the safety of the Japanese yen and some government bonds on Wednesday as concerns rose that setbacks to US-China trade talks would undermine world economic growth. US president Donald Trump said trade discussions with China would need to be rerouted, saying the current track appeared “too hard […]

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Oil rally drives European shares higher

European shares were supported on Wednesday by strength in oil stocks after US president Donald Trump pulled the United States out of Iran’s nuclear agreement, boosting crude prices. While some well-received earnings updates also provided support to the overall market, shares in companies with exposure to Iran fell, with plane maker Airbus and car makers […]

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Cautious optimism on market balance keeps oil above $63

Oil held above $63 a barrel on cautious optimism that the market will re-balance as Opec production falls, while investors keep a wary eye on US supplies. Futures in New York slipped 0.4 per cent after climbing 0.8 per cent on Tuesday. Output from the Organization of Petroleum Exporting Countries dropped to the lowest in […]

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Oil markets mixed as Brent eases but US oil gains

Oil markets were split on Tuesday, with US crude still carrying momentum from Friday’s gains due to a holiday on Monday while international Brent prices eased. US West Texas Intermediate (WTI) crude futures were at $62.31 a barrel at 0740 GMT, up 63 cents, or 1 per cent, from their last settlement. A holiday in […]

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Oil falls by 1% on Saudi commitment to withhold output

Oil prices rose by around 1 per cent on Thursday to extend gains from the previous session, lifted by a weak dollar and Saudi comments that it would rather see an undersupplied market than end a deal with Opec and Russia to withhold production. US West Texas Intermediate (WTI) crude futures were up 83 cents, […]

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Oil prices stable on weak dollar, healthy economic growth

Oil prices were stable on Wednesday, supported by healthy economic growth and expectations that a weaker dollar could spur fuel demand. Crude prices, though, remain well below recent highs due to signs of lingering oversupply, including rising US inventories and ample physical flows globally. US West Texas Intermediate (WTI) crude futures were at $59.17 a […]

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Oil slips from three-year high ahead of US, Opec data

Oil is losing its grip on the highest price in more than three years before a raft of inventory and production data from the US government to the Organization of Petroleum Exporting Countries. Figures from the Energy Information Administration on Thursday are forecast to show weekly US stockpiles fell for a ninth week, while Opec’s […]

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Output cuts, healthy demand support oil near three-year high

Brent crude oil prices held near $70 a barrel on Tuesday, a level not seen since 2014’s dramatic market slump. Prices have been driven up by production curbs in Opec nations and Russia, as well by strong demand thanks to healthy economic growth. Brent crude futures dipped 30 cents, or 0.4 per cent, to $69.96 […]

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Oil hits new highs as Opec members calls for output curbs to continue

Oil reached new highs in London as Opec members called for output curbs to continue, allaying concerns that the recent rally could weaken their commitment. Brent crude closed above $70 a barrel for the first time in three years after Iraqi oil minister Jabbar al-Luaibi said on Saturday that production curbs had contributed to stability […]

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