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13 hrs ago | Reuters
Brent was trading below $103 a barrel on Friday, heading for a second weekly loss as easing geopolitical risks and higher global oil supply pressured prices.
17 hrs ago | Big News Network.com
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19 hrs ago | RTE.ie
Oil prices edged lower in Asia today as dealers digested downbeat Chinese manufacturing data and tracked the ebbing likelihood of supply disruptions in conflict-hit Iraq, Ukraine and Libya.
Venezuela's shipments of crude oil and fuel to its allies have fallen to a five-year low as a weak economy hits its ability to uphold accords that former President Hugo Chavez struck to lower energy costs for friends and expand his diplomatic clout.
A second tanker started loading oil at Libya's Es Sider port, state-run National Oil Corp said on Thursday, as the country's biggest crude export terminal swung back into action after being closed for a year.
President Obama has threatened to impose costs on Russia for their intervention in Ukraine, but so far, his involvement has been high on rhetoric but low on action.
Brent crude's biggest price-rout in more than a year is coming to an end as the flow of West African crude to Asia helps disperse a glut, banks including Societe Generale SA and DNB ASA said.
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Oil prices edged lower in Asia Thursday on fading fears that conflicts in crude producers Libya and Iraq could result in a major supply disruption, analysts said.
Brent crude futures steadied near 14-month lows above $101 a barrel on Wednesday, with ample supplies putting prices at risk of further losses as worries over geopolitical tensions ease.
The oil market cooled down in the past several weeks as the price of WTI oil reached $95 at one point last week.
Investing.com - Brent oil futures traded near the previous session''s 14-month low on Tuesday, as concern eased over global conflicts from Ukraine to Libya and Iraq.
With the losses of state-run oil marketers on diesel sales below cost falling to under a rupee per litre, brokerage firm Goldman Sachs Tuesday estimated the monthly price hikes would end after September assuming that oil prices remain around the current $100 level.
Oil prices slid Monday as Iraqi and Kurdish forces made gains against Islamic insurgents, reducing investor concerns about threats to Iraq's oil production and exports.Iraqi and Kurdish forces recaptured the core of a critical dam on Monday, WSJ reports.
Brent crude edged up towards $102 a barrel on Tuesday, but stayed near a 14-month low reached in the previous session on weak demand and easing concerns over risks to supply.
Updated: Fri Aug 22, 2014 07:39 am
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