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Oil Rises to Seven-Week High With Eyes on Budding Demand Revival - Bloomberg

Oil Rises to Seven-Week High With Eyes on Budding Demand Revival - Bloomberg PRICES: West Texas Intermediate crude for June delivery rose $1.15 to $65.64 a barrel at 12:01 p.m. in New YorkBrent for July settlement added $1.24 to $68.80 a barrel Oil advanced amid optimism that the resumption of economic activity in the U.S. and Europe will underpin demand in some of the world’s largest economies.Futures in New York gained as much as 2.1% on Tuesday, reaching the highest intraday level si...
Tags: Travel, Asia, Europe, New York, India, Opec, Bloomberg, Michael Lynch, The European Union, India Brazil, Rupert Neil Bumfrey, Strategic Energy Economic Research, U S New York


Oil Surges With Stimulus Hopes Adding to Rally From #Saudi Cuts - Bloomberg

Oil extended gains Friday morning with expectations for more U.S. stimulus stoking optimism already buoyed by Saudi Arabia’s unilateral plan to cut output.Futures in New York rose as much as 2% before easing off the high, while Brent oil topped $55 a barrel for the first time since February. Saudi Arabia’s pledge earlier this week to cut production by 1 million barrels a day in February and March added vigor to the rally, while Democrat gains in the U.S. Senate spurred broader markets higher in ...
Tags: Travel, New York, Saudi Arabia, Bloomberg, U S Senate, Michael Lynch, Rupert Neil Bumfrey, Strategic Energy Economic Research


Oil Has Best Week Since June After Saudis Defend Market Recovery - Bloomberg

Oil Prices for Sep. 18, 2020: Brent Crude, WTI - Bloomberg:Saudi Arabia’s warning to OPEC+ cheaters and short-sellers alike helped oil prices stage their biggest weekly rally since June, despite a grim start to the week as industry heavyweights painted a troubling demand picture for the petroleum complex.Futures in New York rose 10% this week following a show of determination by Saudi Arabia, the most influential nation in the Organization of Petroleum Exporting Countries, to defend the market o...
Tags: Travel, New York, Saudi Arabia, Opec, Bloomberg, Lynch, Organization of Petroleum Exporting Countries, Michael Lynch, Khalifa Haftar, Haftar, National Oil Co, Rupert Neil Bumfrey, Strategic Energy Economic Research, Brent Crude WTI Bloomberg


Brent Crude Surges in Best Week Since '16 as U.S. Economy Shines - Bloomberg

Brent Crude Surges in Best Week Since '16 as U.S. Economy Shines - Bloomberg:Brent crude surged to its best weekly gain in more than two years, as encouraging economic news out of the U.S. helped oil markets turn the page on 2018’s price collapse.The global benchmark closed higher on Friday, ending the week up 9.3 percent for its best showing since December 2016. Oil rallied alongside the U.S. stock market following a strong jobs report and dovish comments on interest rates from the Federal Rese...
Tags: Travel, Saudi Arabia, Libya, Michael Lynch, Rupert Neil Bumfrey, Strategic Energy Economic Research, Winchester Massachusetts, U S Economy Shines Bloomberg, Federal Reserve Production


Brent Crude Surges in Best Week Since '16 as U.S. Economy Shines - Bloomberg

Brent Crude Surges in Best Week Since '16 as U.S. Economy Shines - Bloomberg:Brent crude surged to its best weekly gain in more than two years, as encouraging economic news out of the U.S. helped oil markets turn the page on 2018’s price collapse.The global benchmark closed higher on Friday, ending the week up 9.3 percent for its best showing since December 2016. Oil rallied alongside the U.S. stock market following a strong jobs report and dovish comments on interest rates from the Federal Rese...
Tags: Travel, Saudi Arabia, Libya, Michael Lynch, Rupert Neil Bumfrey, Strategic Energy Economic Research, Winchester Massachusetts, U S Economy Shines Bloomberg, Federal Reserve Production


Crude Advances as Saudis Indicate Oil Over $80 Is Just Fine - Bloomberg

Crude Advances as Saudis Indicate Oil Over $80 Is Just Fine - Bloomberg:Crude popped higher amid indications that Saudi Arabia is just fine with oil prices pushing past $80 a barrel given the looming supply losses from Iran.Futures in New York climbed as much as 2.2 percent on Tuesday. The world’s biggest crude exporter is said to be comfortable with Brent prices rising above $80 a barrel as markets adjust to the loss of Iranian supply due to U.S.-imposed sanctions, with oil exports from the nat...
Tags: Travel, New York, Saudi Arabia, Michael Lynch, Rupert Neil Bumfrey, Strategic Energy Economic Research, Winchester Massachusetts, Iran Futures


Hedge Funds Throw Record Bets on Rising Gasoline Prices - Bloomberg

Hedge Funds Throw Record Bets on Rising Gasoline Prices - Bloomberg:"Money managers are going all in on gasoline.Hedge funds boosted bets on rising gasoline prices to the highest on record. That’s as futures for the motor fuel jumped to the highest since August amid robust demand and inventories hovering near their lowest since January.“We are heading into the driving season and the market has tightened rather nicely,” said Michael Lynch, president of Strategic Energy & Economic Research in Winc...
Tags: Travel, Bloomberg, Michael Lynch, Rupert Neil Bumfrey, Strategic Energy Economic Research, Winchester Massachusetts


Investors Start Doubting Oil Rally After Failure to Top $55 - Bloomberg

Investors Start Doubting Oil Rally After Failure to Top $55 - Bloomberg:"The oil market’s failure to break out of the tightest range in more than a decade is sapping investor interest. After hitting a record high last week, hedge funds reduced wagers that U.S. oil prices would rise as concern grows that the market is again becoming vulnerable to a drop. Earlier bullish sentiment was based on optimism that OPEC production cuts would ease supply gluts. Now record U.S. crude stockpiles are raising ...
Tags: Travel, Opec, Bloomberg, Michael Lynch, Rupert Neil Bumfrey, Investors Start Doubting Oil Rally After Failure, Strategic Energy Economic Research, Winchester Massachusetts