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Business Crude Oil Prices Drop
Crude oil prices have fallen in early trading today on concerns that a looming rise in middle east output may drag the stronger markets seen in April, although declining US Production and a weakening dollar are still offering support. According to Deutsche Bank, an imminent rise in production...- ProfRem
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Business ExxonMobil Profits Crash to Lowest Level since 1999
Exxon's (XOM) first-quarter profits plunged by 63% to $1.8 billion due to the oil crash. That's the lowest quarterly profit the company has reported since 1999, according to FactSet. The world's largest publicly-traded oil company blamed "sharply lower commodity prices" and overall "challenging...- ProfRem
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Business Oil Prices Rise Ahead of US Inventory Data
Crude oil prices rebounded in Asia on Tuesday, bolstered by reports that Saudi Arabia was close to completing an oilfield expansion. The US benchmark West Texas Intermediate (WTI) for delivery in June was up 10 cents, or 0.23 percent, at $42.74 and Brent crude for June rose eight cents, or 0.18...- ProfRem
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Business Oil Extends Gains in Asia After US Output Falls to 18-Month Low
Oil prices gained momentum Thursday after data showed US production fell to 18-month lows as Iraq pushed for a fresh meeting of crude majors on limiting output. The advances come just days after the collapse of weekend talks aimed at negotiating an output freeze, which had fuelled worries a...- ProfRem
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Business Oil Price Dips Slightly Ahead of Doha Meeting
Oil prices fell in volatile trade on Friday as investors brace for a meeting between major producers, who are scheduled to discuss a potential production freeze this weekend.. On the New York Mercantile Exchange, light, sweet crude futures for delivery in MayCLK6, -2.10% fell $0.84, or 2%, to...- ProfRem
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Business Crude Oil Benchmark Falls Below $40 Per Barrel
Global oil benchmark, Brent crude, fell on Tuesday, reflecting growing concerns that a two-month rally might be fading, as supply looked set to keep rising and there appeared to be little immediate prospect of demand keeping pace. It fell by $1.27, or 3.15 per cent, to $39 per barrel, while the...- ProfRem
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Business Oil Price Slides, Strong Dollar Drags Asian Shares Lower
Oil prices slide while a stronger dollar piled on pressure on commodity producers as Asian shares dropped on Thursday, with energy stocks taking a hammering from the results, Bloomberg reports. Equity markets across the region ended lower and European bourses dropped in early trading after US...- ProfRem
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Business Oil Price Dips As Market Reacts Calmly to Brussels Attacks
Oil prices dipped Wednesday as traders reacted calmly to the Brussels attacks and kept their eye on global oversupply ahead of a crucial producers’ meeting in Qatar next month. At around 0600 GMT, US benchmark West Texas Intermediate for May delivery was down 52 cents at $40.93 while Brent for...- ProfRem
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Business Oil Price Climbs 3-Months High at $41.43 Per Barrel
Oil prices rose yesterday with benchmark Brent prices hitting a three-month high on hopes for a coordinated approach by major producers to support prices. Brent crude futures were trading at $41.43 a barrel at their highest since Dec. 9, up 59 cents on the day. On Monday, the contract had...- ProfRem
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Business Oil Price Rises Above 2016 Budget Benchmark
Global crude oil prices finally surpassed Nigeria’s budgetary benchmark on Monday, trading above $39 per barrels. The price of Brent crude – the global oil benchmark – rose an all-year high at $39.50 on Monday, from $27.10 on January 20, the lowest for Brent in 2016, theCable reports. Last...- ProfRem
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Business Oil Prices: Saudi Arabia and Russia Agrees To Freeze Crude Oil Output
Saudi Arabia and Russia have agreed to freeze oil output in a meeting in Qatar. Ali al-Naimi, the Saudi Arabian oil minister met with Alexander Novakin Doha, his Russian counterpart, and representatives from Venezuela and Qatar in Doha on Tuesday where they agreed a freeze in the oil production...- ProfRem
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Business Crude Oil Price Rises After Russia Agree to OPEC Talks
The price of crude oil rose, today, Wednesday, after fresh comments from Russia about its openness to talk with OPEC over output cut Russian Foreign Minister Sergei Lavrov said if there is consensus among the Organization of the Petroleum Exporting Countries and non-OPEC members to meet, “then...- ProfRem
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Politics Nigeria: 3 Ugly Things That Always Occur in Buhari's Administration
Since inception of president Buhari's administration last year, it seems most of the occurrence that happened during his era as Military head of state are coming into play again. Litle wonders, The Economists, last week, aid the President is repeating the same mistake he made while he was the...- ProfRem
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Business Oil Prices Crash To $38 For First Time Since 2009
Crude oil prices continued at a six and a half year low on Tuesday, as the Organisation of Petroleum Exporting Countries (OPEC) basket price fell to $38.18 per barrel, one of its lowest since 2009. The basket price, which is calculated as an average of 12 crude oil variants sold by OPEC...- ProfRem
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