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2018-12-24 12:10:00

OIL PRICE: NEAR $54 YET

OIL PRICE: NEAR $54 YET

REUTERS - Oil prices rose more than 1 percent on Monday on signs that the recent price plunge may start crimping supply from the U.S., currently the world's biggest oil producer, though concerns about global economy continues to weigh.

International benchmark Brent crude LCOc1 futures rose 60 cents, or 1.1 percent, to $54.42 a barrel at 0408 GMT. Prices climbed to as high as $54.66.

U.S. West Texas Intermediate (WTI) crude futures CLc1 were up 37 cents, or 0.8 percent, to $45.96…

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Tags: OIL, PRICE, BRENT, WTI,

Chronicle:

OIL PRICE: NEAR $54 YET
2019, March, 22, 10:20:00

U.S. OIL INVENTORIES DOWN 9.6 MB

US crude oil inventories for the week ended Mar. 15, excluding the Strategic Petroleum Reserve, decreased 9.6 million bbl from the previous week, data from the US Energy Information Administration showed.

OIL PRICE: NEAR $54 YET
2019, March, 22, 10:15:00

SAUDI'S OIL WILL DOWN

Saudi Arabia will supply its clients with significantly less oil than they requested in April, extending deeper-than-agreed oil production cuts into a second month, a Saudi official familiar with the policy said.

OIL PRICE: NEAR $54 YET
2019, March, 22, 10:10:00

BRITAIN NEED INVESTMENT $265 BLN

Oil & Gas UK estimates exploration and production companies would have to spend about $265 billion between 2019-35 to realize industry’s expectations outlined in Vision 2035 on the UK Continental Shelf (UKCS).

OIL PRICE: NEAR $54 YET
2019, March, 22, 10:05:00

U.S. FEDERAL FUNDS RATE 2.25-2.5%

U.S. FRB - Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent.

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