June 13th, 2011 13:20:01 GMT

OIL: Brent hits record premium over WTI

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July ICE Brent Crude premium tops $21 over the US WTI as geopolitical concerns over MENA increase over lost productions worries; in contrast to the US where commercial stockpiles remain high.  WTI is around $98.22 with Brent at $119.65

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June 13th, 2011 12:51:31 GMT

WTI Nymex Crude: Lifted by the S&P, but?

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July WTI attempting to regain earlier Asian levels, but lagging the S&P rise, with the contract weighed by latest CFTC data suggesting hedge funds are cutting back their long positions over the last few weeks. Talk that Saudi Arabia may go … Continue reading

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June 10th, 2011 13:58:10 GMT

Crude crunched; down to $99.20

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Down $2.75 since Saudis announced that they would unilaterally increase output. The dollar’s getting a big boost as oil slides.

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June 8th, 2011 17:48:52 GMT

Obama threathens to open SPR

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White House flack Jay Carney says that oil supply is not meeting demand and that using the strategic petroleum reserve remains an option. The US maintains a reserve of hundreds of millions of barrels of oil in case of supply … Continue reading

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June 8th, 2011 13:18:54 GMT

Oil turns higher; no OPEC deal

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Oil is back in the black as the OPEC meeting breaks up with no deal on raising the quota. Since Saudi Arabia has most of the spare capacity within OPEC, they could always increase production unilaterally, but they would never … Continue reading

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