©2015 Bloomberg News NLN67U6JTSEN (Bloomberg) — Oil fell in London, erasing last week’s gain as Saudi Arabia said it’s pumping crude near a record pace, bolstering speculation that a global glut will persist. Futures dropped as much as 1.2 percent. Saudi Arabia is producing almost 10 million barrels a day, Oil
Copyright 2015 Bloomberg. NKRPWN6JIJVI (Bloomberg) — Oil headed for the first weekly gain in three weeks amid the lowest trading volatility since December. Futures advanced as much as 0.8 percent in New York and are poised for a 2.8 percent gain through March 6. The CBOE Crude Oil Volatility Index,
Copyright 2015 Bloomberg. NK9ABM6K50YI (Bloomberg) — Oil traded below $50 a barrel before U.S. government data forecast to show crude inventories expanded from a record high in the world’s biggest consumer. Futures were little changed in New York after falling 2.7 percent on Monday. Crude stockpiles probably rose by 3.75 million
Copyright 2015 Bloomberg. Ben Sharples (Bloomberg) — Oil extended gains after capping the biggest weekly advance in almost four years amid signs drilling is slowing in the U.S., the world’s biggest consumer. Futures climbed as much as 3.3 percent in New York after a second weekly increase through Feb. 6.
Copyright 2015 Bloomberg. NIAO4Y6JTSEJ (Bloomberg) — U.S. drillers have taken a record number of oil rigs out of service in the past six weeks as OPEC sustains its production, sending prices below $50 a barrel. The oil rig count has fallen by 209 since Dec. 5, the steepest six-week decline