Cushing Newswire

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Results 1 - 20 of 81 for "u:reuters.com" in Cushing, OK

  1. Oil edges down but WTI set for record 10th week of gainsRead the original story w/Photo

    Thursday May 21 | Reuters

    Oil prices steadied on Friday as worries over the impact on crude supplies of war in the Middle East were balanced by reports of profit-taking ahead of a long weekend. Monday, May 25 is Memorial Day in the United States and a public holiday in much of Europe, closing many markets.

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  2. UPDATE 1-Oil edges down but WTI set for record 10th week of gainsRead the original story

    Thursday May 21 | Reuters

    Oil prices edged down on Friday after rising more than 2 percent in the previous session, buoyed by lower U.S. crude inventories and geopolitical tension in the Middle East. U.S. crude futures are in their longest winning streak since records began in 1983, helped by a drop in crude and product stockpiles last week, reflecting better demand in the world's largest oil consumer.

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  3. UPDATE 9-Oil gains over 2 pct on inventory draws, Iraq fightingRead the original story

    Thursday May 21 | Reuters

    Oil prices jumped more than 2 percent on Thursday, giving Brent its biggest rally in more than a week, as draws reported in the Cushing delivery point for U.S. crude futures boosted optimism that a supply glut was easing. The dollar's retreat took some pressure off crude prices as well.

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  4. REFILE-North Dakota still on track for oil tax breakRead the original story

    Friday May 1 | Reuters

    The clock kept ticking in April on a suspension of North Dakota's oil extraction tax after a state-calculated average of the month's crude price fell below $52.59 per barrel for a fourth straight month. The tax break, enacted in the 1980s, had the potential to be worth more than $5 billion to oil producers over a two-year period.

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  5. Mideast Stocks-Gulf markets mixed despite strong oil; Egypt extends reboundRead the original story

    Thursday Apr 30 | Reuters

    Gulf stock markets were narrowly mixed on Thursday after some companies reported mediocre first-quarter earnings, offsetting the positive impact of higher oil prices. Egypt rebounded further on hopes that new tax rules would be amended.

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  6. UPDATE 4-U.S. oil hits five-month high as dollar weakensRead the original story

    Thursday Apr 30 | Reuters

    U.S. crude oil hit a five-month high on Thursday as the dollar slipped to its lowest since February and as more evidence emerged of a gradual balancing of the U.S. domestic market. The U.S. currency slipped to a two-month low against a basket of currencies as the euro and yen rallied, making oil less expensive for holders of other currencies.

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  7. Stocks slip, euro near two-month high as U.S. economy loses steamRead the original story w/Photo

    Wednesday Apr 29 | Reuters

    Asian stocks stumbled on Thursday while the euro held near two-month highs against the dollar after surprisingly downbeat first quarter economic growth in the United States dimmed the mood. The disappointing news on the world's biggest economy, coming on top of a worrying slowdown in China, found expression in a warning by New Zealand's central bank that it could cut rates if domestic momentum weakened.

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  8. Global Markets-Asian stocks slip, euro stands tall after weak U.S. GDPRead the original story

    Wednesday Apr 29 | Reuters

    Asian stocks slipped and the euro stood tall against the dollar early on Thursday after U.S. data overnight showed the economy grew much more slowly than expected in the first quarter. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5 percent.

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  9. Global Markets-Shares fall on U.S. GDP data; dollar pares losses after FedRead the original story

    Wednesday Apr 29 | Reuters

    Stock markets worldwide fell on Wednesday after weak corporate results and data showing U.S. economic growth braked more sharply than expected in the first quarter, while the dollar pared losses after a Federal Reserve policy statement. Commerce Department data showed U.S. gross domestic product expanded at an only 0.2 percent annual rate, marking the weakest reading in a year and depressing U.S. shares.

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  10. Canada Stocks-Gains in oil shares limit TSX's retreatRead the original story

    Wednesday Apr 29 | Reuters

    Canada's main stock index pared early-session losses on Wednesday, helped by a comeback in energy stocks on a jump in crude prices, but the index remained broadly lower. Investors were cautious ahead of a U.S. Federal Reserve policy statement due on Wednesday afternoon that comes after data showed U.S. economic growth stalled in the first quarter, fortifying expectations that the Fed will be in no rush to hike interest rates.

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  11. UPDATE 1-U.S. crude stocks build less than expected as Cushing draws - EIARead the original story

    Wednesday Apr 29 | Reuters

    U.S. crude inventories rose last week to hit a record high for the 16th straight week but the build was smaller than expected as supplies at the Cushing, Oklahoma, oil hub declined for the first time since November, data from the Energy Information Administration showed on Wednesday. Crude stockpiles rose 1.9 million barrels to 490.91 million in the week to April 24, compared with analysts' expectations for an increase of 2.3 million barrels.

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  12. Traders alarmed oil glut is a strain on West Texas storage tanksRead the original story

    Saturday Apr 25 | Reuters

    Four-hundred miles from the near overflowing tanks at the U.S. oil hub in Cushing, Oklahoma, a second glut in the Permian Basin of West Texas is pressuring oil prices once again as pipeline disruptions strand millions of barrels in the region. The Permian, the fastest-growing shale play, accounts for about a fifth of the country's total oil production, and is expected to produce about 2 million barrels of crude a day in May. The region houses over 20 million barrels of crude storage.

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  13. UPDATE 4-Oil prices dip below $62 on U.S. stock buildRead the original story

    Apr 22, 2015 | Reuters

    Oil prices dipped under $62 a barrel on Wednesday after industry data showed a build in U.S. crude inventories for the 15th straight week, adding to concerns of a global supply glut. The American Petroleum Institute said on Tuesday that U.S. crude stocks rose by 5.5 million barrels last week, higher than the 2.9-million-barrel build expected by analysts in a Reuters survey, to 480.2 million barrels.

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  14. Oil prices drop as Middle East tension easeRead the original story w/Photo

    Apr 21, 2015 | Reuters

    Oil prices extended declines on Wednesday as Middle East tension eased after Saudi Arabia ended a military campaign in Yemen, while industry data showed that a larger-than-expected build in U.S. oil inventories. Saudi Arabia announced on Tuesday it was ending a month-long campaign of air strikes against the Houthi rebels who seized large areas of Yemen, easing geopolitical tension in the key oil producing region.

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  15. COLUMN-Futures prices point to more balanced oil market in second half: KempRead the original story

    Apr 13, 2015 | Reuters

    Professional commodity traders watch spreads rather than spot prices as the best indicator of the balance between supply and demand. In crude, the narrowing spreads for both Brent and West Texas Intermediate indicate a closer balance between supply and demand in the second half of the year than in the first.

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  16. UPDATE 1-U.S. crude oil stocks surge 11 mln bbls, biggest rise since 2001Read the original story

    Apr 8, 2015 | Reuters

    U.S. crude stocks surged nearly 11 million barrels last week, the biggest gain in 14 years, as imports jumped, while gasoline inventories unexpectedly increased, government data showed on Wednesday. Crude inventories rose 10.95 million barrels in the week to April 3 to 482.4 million, hitting record highs for the 13th consecutive week, according to data from the Energy Information Administration .

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  17. RPT-Surprise pause in Cushing oil stock rise likely blip, not trendRead the original story

    Apr 7, 2015 | Reuters

    An unexpectedly tiny rise in crude oil stocks at Cushing, Oklahoma, last week was likely a one-off interruption in the unprecedented build in U.S. inventories, traders said, not a reversal. On Monday, energy information group Genscape said its data showed Cushing stocks rose by only 169,000 barrels in the week to April 3. Oil futures jumped nearly $3 a barrel on surprise that the build was so much less than the average weekly build of 2 million barrels in recent months at the U.S. storage hub.

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  18. UPDATE 1-U.S. crude inventories at record highs, gasoline supplies tumble - EIARead the original story

    Apr 1, 2015 | Reuters

    U.S. crude inventories rose last week to a record high for the 12th straight week, while gasoline stocks fell more than four times than expected as demand grew for the motor fuel, data from the Energy Information Administration showed on Wednesday. Crude inventories rose 4.8 million barrels to 471.4 million in the week to March 27, compared with analysts' expectations for an increase of 4.2 million barrels.

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  19. U.S. may skirt oil storage crisis as drivers hit the roadRead the original story w/Photo

    Mar 30, 2015 | Reuters

    A month ago, it seemed inevitable: a massive global oversupply of crude oil production would overwhelm storage tanks in Oklahoma and fill supertankers off Singapore. Now, there are growing signs that the U.S. oil market can avoid the doomsday scenario in which it runs out of room to stockpile surplus crude, a development that oil traders worried would send crude prices into another tailspin.

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  20. UPDATE 1-U.S. crude stocks rise as Cushing storage maintains record - EIARead the original story

    Mar 25, 2015 | Reuters

    U.S. crude inventories soared last week to extend their record build into the eleventh consecutive week as stocks at the Cushing, Oklahoma, delivery hub also hit another peak, data from the Energy Information Administration showed on Wednesday. Crude inventories rose 8.2 million barrels to 466.7 million last week, another 80-year high record, compared with analysts' expectations for an increase of 5.1 million barrels.

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