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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 31, 2016. Reuters/Brendan McDermid
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The flow of drilling mud is seen in a container while an oilfield worker works on a drilling rig at an oil well operated by Venezuela’s state oil company PDVSA, in the oil rich Orinoco belt, near Cabrutica at the state of Anzoategui April 16, 2015. REUTERS/Carlos Garcia Rawlins/File Photo
Oil Prices Edge near 2016 highs on Ebbing Supply, Softer Dollar
Oil prices held close to their highest in seven months on Tuesday, propped up by the U.S. dollar skimming its lowest in nearly a month and by falling Nigerian oil output after a wave of attacks on infrastructure. Brent crude futures were up 17 cents on the day at...Caption:
Pump jacks are seen at the Lukoil company owned Imilorskoye oil field, as the sun sets, outside the West Siberian city of Kogalym, Russia, in this January 25, 2016 file photo. REUTERS/Sergei Karpukhin/Files
Iran and Libya Pressure Oil Prices
Cairo – For the fourth consecutive session, oil prices continue to fall reaching $48 a barrel. Oil prices fell this low because of Iran’s rejection to limit oil production, Libya’s increased production of crude oil, and doubts about reaching an agreement in the...Caption:
A natural gas flare on an oil well pad burns as the sun sets outside Watford City, North Dakota January 21, 2016. REUTERS/Andrew Cullen/Files
Oil Falls after Iran Dulls Hopes for Production Freeze
Brent oil prices fell for a fourth consecutive session on Monday after Iran insisted it would not freeze crude output, bringing back investor attention to a global glut. Deputy Oil Minister Rokneddin Javadi said on Sunday that Iran has no plans to freeze the level of...Caption:
A worker grabs a nozzle at a PTT gas station in Bangkok, Thailand, January 5, 2016. REUTERS/Athit Perawongmetha