Oil above $48 on OPEC freeze hopes
Oil traded above $48 a barrel as Saudi Arabia’s energy minister said an output freeze would be positive for the market and after a report that Iran will attend an informal meeting next month. Futures...
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Market Currents: Further signs of life in the oil patch
As financial markets are distracted once more by Federal Reserve Chair Janet Yellen, crude is not immune to this influence, making moves in response to the U.S. dollar’s gyrations (crude up, dollar down). We’ll choose...
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As oil stablizes, merger deals are back
Multibillion-dollar oil and gas deals are back on the table. More than $11 billion of transactions were announced globally in July as crude’s recovery fueled hopes of a steadier market, Wood Mackenzie said. That’s the...
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Key Energy joins ranks of oil-related companies filing bankruptcy
Oilfield service company Key Energy Services plans to file for chapter 11 bankruptcy by Nov. 8, the Houston-based company said in a regulatory filing. The restructuring plan, which must be approved by creditors, would give bondholders...
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Market Currents: Both Iran’s oil production and exports are stalling
With broader markets distracted by an impending speech by Federal Reserve Chair Janet Yellen, crude is once again preoccupied by potential OPEC developments. As the dollar softens and crude edges higher, hark – here are...
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