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ANZ Australia Rivkin Securities Economy OPEC Top News U.S. 

Oil edges up on decline in crude stocks, but high production caps gains

August 17, 2017 By Henning Gloystein SINGAPORE (Reuters) – Oil prices edged up early on Thursday, clawing back some ground after losses in the previous session. Traders said the market was range-bound as falling crude inventories provided price support while high output was capping gains. Brent crude futures, the international benchmark for oil prices, were at $50.43 per barrel at 0101 GMT, up 16 cents, or 0.3 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $46.88 a barrel, up 10 cents, or 0.2 percent….

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ANZ CPI Cyclone Debbie Economy rates Top News 

Australia inflation bogeyman still fast asleep in second quarter

July 24, 2017 By Wayne Cole SYDNEY (Reuters) – Australia’s core inflation rate is expected to have stayed below target for a sixth straight quarter through April-June, a reminder of just why interest rates in the country are at record lows and set to remain there for months to come. Analysts polled by Reuters forecast consumer prices (CPI) rose around 0.4 percent in the second quarter, from the first, which would nudge the annual pace up a tick to 2.2 percent. The Australian Bureau of Statistics releases the report for…

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ANZ Business Nigeria OPEC U.S. 

Brent crude stabilizes near $50 a barrel

July 4, 2017 By Ahmad Ghaddar LONDON (Reuters) – Brent oil prices gained slightly on Tuesday, stabilizing near $50 a barrel on tentative signs that a persistent rise in U.S. crude production may be slowing. The international benchmark gained 15 cents to $49.83 per barrel by 1409 GMT. U.S. West Texas Intermediate (WTI) crude futures were trading up 18 cents at $47.25 a barrel. Brent futures have risen for nine days in a row, the longest stretch of gains since July 2009. Both contracts traded lower earlier in the session…

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ANZ Business Nigeria OPEC U.S. 

Oil eases on U.S. holiday after eight days of gains

July 4, 2017 By Ahmad Ghaddar LONDON (Reuters) – Oil prices fell on Tuesday, as investors booked profits on an eight-day rally that was triggered by tentative signs that a persistent rise in U.S. crude production may be slowing. Brent crude futures fell by 15 cents to $49.53 per barrel by 1138 GMT. U.S. West Texas Intermediate (WTI) crude futures were trading down 12 cents at $46.95 a barrel. The falls came after both benchmarks recovered around 12 percent from their recent lows on June 21. Many traders closed positions…

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ANZ consumer Economy rates RBA Top News 

Australia’s central bank in sweet spot as jobs, home prices please

July 3, 2017 By Wayne Cole SYDNEY (Reuters) – Australia’s jobs market looks healthier than it has in months while house prices are cooling in the face of tighter lending rules, all arguments for steering a steady course on interest rates this week. The Reserve Bank of Australia (RBA) holds its July policy meeting on Tuesday and is almost certain to keep rates at 1.5 percent, where they have been since August last year. All eyes will be on the post-meeting statement for any hint of hawkishness given central banks…

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ANZ Baker Hughes Inc Business energy rates 

Oil holds above November lows but under threat from U.S. supply

June 26, 2017 By Amanda Cooper LONDON (Reuters) – Oil edged up for a third straight session on Monday, climbing off last week’s seven-month lows but with gains capped by the relentless rise in U.S. supply and bloated global inventories. Investors in U.S. crude futures and options increased their bets against a further rise in prices, as the number of U.S. oil rigs in operation hit its highest in over three years. [CFTC/] [RIG/U] U.S. shale oil output is up around 10 percent since last year, while places like Brazil…

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ANZ Economy GMT OPEC Saudi Arabia Top News 

Oil edges up, but still set for worst first-half performance in 20 years

June 23, 2017 By Henning Gloystein SINGAPORE (Reuters) – Oil edged up on Friday, recovering some of the steep falls earlier in the week, but crude is still set for the worst first-half decline in two decades despite ongoing production cuts. Brent crude futures were at $45.39 per barrel at 0501 GMT, up 17 cents, or 0.4 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were up 17 cents, or 0.4 percent, at $42.91 per barrel. Oil prices have fallen about 20 percent this year despite…

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ANZ Economy OPEC Russia Top News United States 

Oil prices edge up; still near 2017 lows on stubborn glut

June 16, 2017 By Julia Simon NEW YORK (Reuters) – Oil prices on Friday bounced up off the year’s lows as some producers reduced exports and U.S. rig additions slowed, but the rebound was modest and crude posted its fourth weekly decline on persistent concerns about global oversupply. Brent crude futures rose 45 cents to settle at $47.37 per barrel and U.S. West Texas Intermediate (WTI) crude settled at $44.74 per barrel, up 28 cents. Both benchmarks notched a weekly loss exceeding 1.6 percent. On Thursday, oil prices hit six-month…

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ANZ Economy OPEC Russia Top News United States 

Oil sits near half-year lows as global supply overhang weighs

June 16, 2017 By Henning Gloystein SINGAPORE (Reuters) – Oil prices dipped early on Friday and were not far off six-months lows as an ongoing supply overhang weighed on markets despite an OPEC-led effort to cut production and prop up prices. Brent crude futures were down 6 cents, or 0.1 percent, at $46.86 per barrel at 0045 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 8 cents, or 0.2 percent, at $44.38 per barrel. Prices for both benchmarks are down by more than 13 percent since late May,…

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ANZ Asia Economy OPEC Saudi Arabia Top News 

Oil edges up on Saudi pledge to make real supply cuts

June 13, 2017 By Henning Gloystein SINGAPORE (Reuters) – Oil prices edged up early on Tuesday, lifted by statements that OPEC-leader Saudi Arabia was making significant supply cuts to customers, although rising U.S. output meant that markets remain well supplied. Brent crude futures were at $48.42 per barrel at 0044 GMT, up 13 cents, or 0.3 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $46.21 per barrel, also up 13 cents, or 0.3 percent. Saudi Arabia, the world’s top oil exporter, is leading an…

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