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New York oil ducks under $50 LONDON: World oil prices slipped Tuesday with US crude ducking under $50 as demand took a hit from the looming return of Iranian supplies and the strong US currency, analysts said.Expectations of more Iranian crude flooding the oversupplied global market within months after a landmark nuclear deal continue to drag the oil market lower.Brent North Sea crude for September delivery nudged four cents lower to stand at $56.62 a barrel nearing midday in London.US benchmark West Texas Intermediate for delivery in August ducked below $50 per barrel for the first time in more than three months.The contract later stood at $50.11 a barrel, also down four cents from Monday's closing level."Most of the movement that we're seeing now in oil prices mainly comes from the dollar strength," said Daniel Ang, analyst with Phillip Futures in Singapore.The dollar got a boost after Federal Reserve chair Janet Yellen last week stuck to ...
Oil drops on concerns of glut in refined products LONDON: Oil dropped on Monday as signs of a growing glut in refined products outweighed a fall in Saudi crude exports and slower U.S. rig activity.Crude prices have fallen for three weeks in a row on expectations of increased oil sales from Iran following a deal to ease sanctions against the OPEC producer.Brent crude for September was down 35 cents at $56.75 a barrel by 1100 GMT. The benchmark fell nearly 3 percent last week ...
Oil steadies as Saudi crude exports fall LONDON: Oil prices steadied on Monday after data showing a sharp drop in Saudi Arabia's crude oil exports balanced signs of rising refined products stocks. Brent crude for September was 5 cents up at $57.15 a barrel by 0825 GMT. The benchmark fell nearly 3 percent last week and is down more than 10 percent so far this month.US crude futures for August, also known as West Texas Intermediate (WTI), were up 5 cents at ...
Oil dips on strong dollar, supply fears LONDON: World oil prices fell further Monday on a stronger dollar and concerns that a supply glut will worsen following a landmark deal which will allow Iran to increase its crude exports.Brent North Sea crude for September delivery dropped 48 cents to $56.62 a barrel nearing midday London trade.US benchmark West Texas Intermediate for delivery in August shed 17 cents to $50.72 a barrel compared with Friday's close.In foreign exchange deals, the dollar hit its ...
Oil prices rebound LONDON: Oil prices rebounded Thursday after a sharp decline the day before as traders tried to get a handle on the full implications of Iran's landmark nuclear accord.US benchmark West Texas Intermediate for delivery in August rose 34 cents to $51.75 a barrel compared with Wednesday's close.Brent North Sea crude for August delivery advanced 78 cents to $57.83 a barrel. Both contracts had slid more than $1.50 on Wednesday.Daniel Ang, an investment analyst with Phillip ...

 





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