Oil, briefly up on lower rig counts, falls on U.S. output outlook

Oil, briefly up on lower rig counts, falls on U.S. output outlook

Oil, briefly up on lower rig counts, falls on U.S. output outlook

Both crude benchmarks dropped by about 1% on Monday after the US Energy Information Administration (EIA) said output from the shale basin would hit a new record high in April. But U.S. crude fell as much as 2.21 percent on Monday, to $60.67 per barrel, before bouncing back to $61.35, down 1.11 percent.

Aside from cryptocurrencies being the main subject of the markets recently, commodities are reaching new heights with crude oil on the rise with solid growth.

"Secretary of Commerce Wilbur Ross will be speaking with representatives of the European Union about eliminating the large tariffs and barriers they use against the United States of America", he stated.

Oil markets climbed on Monday, March 12, on the back of a drop in the number of United States rigs drilling for more production and as the US economy continued to create jobs, which industry hopes will drive higher fuel demand, NAN reports.

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They have offered to talk directly to the United States about a possible peace agreement. So the emphasis is on drawing in Taliban elements piecemeal.

But in a sign that an early-year rally in crude oil may have fizzled out, money managers cut their combined net long positions in the six most important futures and options contracts linked to petroleum prices by 50-million barrels in the week to March 6.

That has undercut some of the enthusiasm for oil, as investors weigh increased USA supply against the likelihood that the Organization of the Petroleum Exporting Countries and non-OPEC producers will maintain supply cuts that have been in effect for more than a year.

Latest US oil production data will be released on Wednesday.

Oil markets climbed on Monday on the back of a drop in the number of United States rigs drilling for more production and as the U.S. economy continues to create jobs, which industry hopes will drive higher fuel demand.

UConn, Seeking 12th NCAA Title, Lands Top Overall Seed
Notre Dame is another team to look at, as they came within single digits to CT when the teams played earlier in the season. UConn, which has been a No. 1 seed every year since 2007, opens up against 16-seed Saint Francis, Pa. on Saturday morning.

OPEC should beware as USA shale producers are set to steal a bigger slice of the market in Asia, which consumes more oil than any other region, according to industry consultant Wood Mackenzie Ltd.

The Treasury Department will auction $21 billion in 10-year notes on Monday, as well as $28 billion in three-year notes. Influencing the market are geopolitical factors, potential world crisis', supply and demand, and weather changes, just to name a few factors.

The Nasdaq Composite was up 33.19 points, or 0.44 percent, at 7,594.00.

Emerging market stocks rose 1.21 percent.

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Since launching back in 2017, these updates have added features like the ability to record video or to locate missing controllers. The Nintendo Switch will automatically download the firmware 5.0.0 firmware while it is connected online.

Wall Street's main indexes closed up almost 2 percent on Friday on the strength of the jobs report, and have almost reversed declines in recent weeks when investors feared that higher wages might lead to price pressures. S. dollar. The dollar index .

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