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Shayne Heffernan Oil Price Report

Shayne Heffernan Oil Price Report Oil prices fell Friday on weaker global growth concerns triggered by a weak US jobs report, reversing earlier gains as a hurricane risked threatening refineries on the US east coast. US benchmark West Texas Intermediate (WTI) for delivery in November delivery dropped 59 cents to 44.15 a barrel compared with […]

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Outlook For Crude Oil & Gasoline: Neutral To Very Bearish

Outlook For Crude Oil & Gasoline: Neutral To Very Bearish $USO, $OIL, $UGA Crude Oil traded mixed Wednesday. Data released early showed more weakness in China’s growth outlook. The front-month WTI contract was -0.31% as US inventory increased last week. OPEC’s output was estimated to have risen +110-K BPD in September. The Brent contract for […]

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Metals Analysts See Copper In Extended Decline

Metals Analysts See Copper In Extended Decline $JJC, $OIL, $USO, $GLCNF, $GS Copper (NYSEArca:JJC) to continue to decline as the US Fed starts to raise interest rates, demand growth stalls in China and stockpiles grow, according to Goldman Sachs Group Inc (NYSE:GS), which stood by a year-end forecast that signals the biggest annual drop since the […]

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World Crude Oil Prices Remain “Murky”

World Crude Oil Prices Remain “Murky” $OIL, $USO World Crude Oil prices declined on concerns over slowdown in China and other emerging markets. Losses were contained as US inventory fell more than expected while distillate stockpile surprisingly dropped last week. The front-month WTI Crude contract fell -2.95% while the Brent Crude contract dropped -2.71% on […]

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Goldman Sachs See Long Term Crude Oil Glut And $20 bbl Prices

Goldman Sachs See Long Term Crude Oil Glut And $20 bbl Prices $GS, $OIL, $USO A glut of crude may keep Crude Oil prices low for the next 15 years, according to the latest report from Goldman Sachs Group Inc (NYSE:GS). There’s less than a 50% chance that prices will drop to $20 bbl, most […]

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WTI Crude Oil: A Break Down Or Break Out Is Imminent

WTI Crude Oil: A Break Down Or Break Out Is Imminent $USO, $OIL. $GS For WTI Crude Oil, a breakout or breakdown is imminent as it consolidates inside converging trend lines. Given the fundamental backdrop and the late August rally, WTI could breaks to the Northside. 1st resistance marks are at 45.65 followed by the […]

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Oil falls to $44.00 a barrel, Fed eyed

FXStreet (Córdoba) – Oil faced some selling pressure and dropped to the $44 area as worries about China and mixed expectations ahead of the Federal Reserve meeting weighed on commodities.

Oil prices even shrugged off a report from the Organization of Petroleum Exporting Countries (OPEC) which showed the cartel upwardly revised its world oil demand outlook for 2015.

Crude oil fell to a 4-day low sub-$44.00 a barrell, although it managed to recover slightly afterward. The barrel traded at $44.26 a barrel, down 1.2% on the day.

Both WTI and Brent crude futures lost around 3% last week amid China woes and lingering concerns over a global supply glut.

Oil faced some selling pressure and dropped to the $44 area as worries about China and mixed expectations ahead of the Federal Reserve meeting weighed on commodities.

(Market News Provided by FXstreet)

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