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Russia Declares State Of Emergency Over Arctic Oil Spill
Friday, June 5, 2020 - 4:04pm | 392Read More...Russian President Vladimir Putin declared a state of emergency Wednesday after a massive diesel fuel spill in a Siberian river causing more than an estimated $76 million in damage to waterways above the Arctic Circle, reports The Moscow Times. Cleaning operations were still underway...
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Hedging Opportunities Using Black Sea Wheat Futures
Tuesday, May 12, 2020 - 10:21am | 2095Read More...The Rising Importance Of The Black Sea Region In Global Wheat Trade In the past two decades, the mix of top wheat exporters has changed as new centers of surplus production emerge. The Black Sea region (BSR) has become the dominant world wheat exporter, supplying high quality and competitively...
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Crippled Crude Oil Presents Conundrum For These Russia, Saudi Arabia ETFs
Tuesday, April 21, 2020 - 2:30pm | 682Read More...It's not even Wednesday and it's fair to say oil futures and the related exchange traded products are having wild weeks. At this writing Tuesday, the popular United States Oil Fund (NYSE: USO) is lower by almost 30%. USO, which tracks front month West Texas Intermediate (WTI) futures, but...
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Oil Gains, US Equities Fall As OPEC And Allies Agree To Lower-Than-Expected Production Cuts
Monday, April 13, 2020 - 2:05am | 459Read More...Oil prices posted gains early Monday after the Organization of the Petroleum Exporting Countries and allies agreed to long-awaited production cuts in a Sunday meeting. What Happened The United States futures options dipped as the 9.7 million barrels per day cut (mb/d), the OPEC+ countries agreed to...
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Oil And Shale Are In A Tough Spot
Tuesday, April 7, 2020 - 12:28pm | 809Read More...The recent oil price war between Russia and Saudi Arabia has President Trump caught in tough spot. One the one hand, cheaper oil prices are good for consumers and industries that rely on oil to function. But the 17-year lows in oil is also hurting oil producing countries, of which the U.S. is one...
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Oil Drops 4% As OPEC Meeting To End Saudi-Russia Price War Is Postponed
Monday, April 6, 2020 - 3:06am | 265Read More...Oil prices dropped significantly late Sunday as the Organization of the Petroleum Exporting Countries meeting scheduled for Monday was postponed. What Happened The OPEC meeting, meant to resolve differences between the Kingdom of Saudi Arabia and the Russian Federation, has been...
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Saudi-Russia Rift Amid Pandemic Drive Crude Oil To 17-Year Low
Monday, March 30, 2020 - 6:24am | 321Read More...Oil prices fell dramatically on Monday, reaching their lowest levels since November 2002 as Saudi-Russia fail to agree on the scale of production and the coronavirus pandemic strangles demand. What Happened Brent crude prices fell as low as $23.03 on Monday morning, a level not seen since November...
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BP Exec: Oil Prices Have No Path To Upside For Now
Monday, March 16, 2020 - 10:44am | 328Read More...Oil prices were lower by nearly 10% Monday morning and likely have more downside potential as we will "likely see negative demand" for the commodity this year, BP (NYSE: BP) CFO Brian Gilvary said on CNBC. What Happened BP was modeling as early as February demand for oil to weaken by 300,...
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The End Of The Oil Era?
Friday, March 13, 2020 - 10:22am | 854Read More...Russia and Saudi Arabia clashed over the oil price, both trying to keep or increase their share in the market. The coronavirus outbreak was at least the official beginning of the conflict. As millions of people are in quarantine, and traveling is reduced to a minimum, oil has faced a sharp decrease...
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Friday's Market Minute: Russia's Oil War
Friday, March 13, 2020 - 9:34am | 233Read More...Supply-shock joined demand-shock in the oil markets this week following Russia’s departure from the OPEC+ alliance. The reverberations of the 2020 Crude Crash have been deep and wide, sending equity markets limit-down Monday and putting credit markets on edge. Russia’s decision left...
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Cramer Says To Sell Oil Stocks If Saudi Arabia, Russia Reconcile
Tuesday, March 10, 2020 - 4:27pm | 467Read More...Oil stocks could rebound if Saudi Arabia and Russia resolve their differences and "save OPEC," and investors should take advantage of any near-term gains by selling their position, according to Jim Cramer. Cramer Advises Selling Oil Names With 'Terrible Balance Sheets' Saudi...
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BofA Downgrades 14 Oil And Gas Stocks In Face Of Oil Price War
Tuesday, March 10, 2020 - 4:11pm | 647Read More...Plummeting oil prices and uncertainty around the oil market in the midst of a price war between two big producing nations led Bank of America to downgrade nearly every stock in the sector that it didn't already rate Underperform, dropping the outlook on 14 stocks across the industry, from...
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Pisani: Circuit Breakers Worked As Expected
Tuesday, March 10, 2020 - 3:10pm | 353Read More...Market-wide and individual stock circuit breakers were put to the test Monday and worked exactly as expected, according to CNBC's Bob Pisani. What Happened U.S. stocks plummeted Monday amid ongoing coronavirus concerns and a new declaration of an oil price war pitting Saudi Arabia against...
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Sanctions, Stimuli And COVID-19: Today's Oil News
Tuesday, March 10, 2020 - 11:10am | 729Read More...Since the U.S. introduced nuclear-related sanctions in 2018, production has stalled at more than 25% of Iran’s oil rigs, according to a Reuters report. Of the state’s 160 rigs, about 40 stand idle or require repair. The sanctions depressed global demand of Iranian oil and led the state...
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Oil Drops More Than 26%, Aramco Drops To The Lowest Price As Saudi Arabia, Russia Engage In Price War
Monday, March 9, 2020 - 12:15am | 309Read More...Crude oil futures on Sunday dropped by the most percentage points since the gulf war of 1991, as Saudi Arabia and Russia engaged in a price war. What Happened Saudi Arabia announced that it is cutting the price for April crude oil to all destinations by $6 to $8, as reported by Reuters, causing the...
