Tom Bentz News
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Oil fell to a six-month low as investors speculated Spanish banks may have their credit ratings lowered and an American gauge of manufacturing trailed projections, bolstering concern that economic growth will slow.
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Oil fell to the lowest level in more than six months as U.S. supplies grew to the most since 1990 and talks to form a coalition government in Greece collapsed, raising concern that Europe’s debt crisis will worsen.
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Oil fell to the lowest level in almost five months amid growing speculation that Greece may leave the euro currency union and as Saudi Arabia’s oil minister said prices should decline further.
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Oil rose for the first time in seven days as U.S. claims for initial jobless benefits fell last week to a one-month low, adding to optimism that demand in the world’s biggest crude consumer will grow.
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Oil fell below $100 a barrel for the first time since February as U.S. employers added fewer workers than forecast, stoking concern that demand won’t be enough to reduce inventories from their highest level in 21 years.
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Oil tumbled the most this year as European Central Bank President Mario Draghi said the euro area’s economic outlook has become “more uncertain.”
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Commodities fell to the lowest level in more than three months as oil tumbled below $100 a barrel on weaker-than-expected U.S. employment data.
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Oil’s April trading range is the tightest for any month in 17 years as concern eased that supplies would be disrupted and reports showed slower U.S. economic growth.
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Oil fell to a six-week low as U.S. equities dropped and France said governments are moving closer to an agreement on a release from emergency stockpiles to curb price gains.
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Oil rose as the reversal date for the Seaway crude pipeline was moved up, causing the spread between New York-traded futures and Brent in London to narrow. Retail sales in the U.S. increased more than forecast in March.
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