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Oil Pares Losses With Dollar Easing Off Session Highs


Oil Rally Held Back by Dollar Gains and Equity Sell-Off
Bloomberg
1/11/2021
Andres Guerra Luz
(Bloomberg) Oil closed little changed with a stronger U.S. dollar and broader market selloff sapping momentum from a recent rally.
Futures in New York ended the session up 1 cent at the highest since February on Monday following a surge above $50 a barrel last week. Yet, crude did not manage to eke out a larger advance with U.S. equities dropping from records and dollar gains reducing the appeal of commodities like oil that are priced in the currency.
With crude starting the year strongly, Goldman Sachs Group Inc. said it expects Brent to reach $65 a barrel by the summer, sooner than previously anticipated. Last week, Saudi Arabia pledged deeper output cuts, a move that Goldman said will bring forward market tightness. The kingdom also increased its oil prices to Asia, and was followed by Iraq, Abu Dhabi and Kuwait. ....

New York , United States , Saudi Arabia , Peter Mcnally , Abu Dhabi , John Kilduff , Ole Hansen , Fatih Birol , Amro Bank , International Energy Agency , Goldman Sachs Group Inc , Saxo Bankas Oil , Bloomberg Oil , Bloomberg Television , Goldman Sachs Group , West Texas Intermediate , Again Capital , Bloomberg Technical , Saxo Bank , Texas Intermediate , New Yorkbrent , Deep Scar , Energy Industry , Saudi Crown Prince Mohammed , புதியது யார்க் , ஒன்றுபட்டது மாநிலங்களில் ,

Oil Wavers as Dollar Rallies and Equities Decline


Oil Rally Held Back by Dollar Gains and Equity Sell-Off
Bloomberg
1/11/2021
Andres Guerra Luz
(Bloomberg) Oil closed little changed with a stronger U.S. dollar and broader market selloff sapping momentum from a recent rally.
Futures in New York ended the session up 1 cent at the highest since February on Monday following a surge above $50 a barrel last week. Yet, crude did not manage to eke out a larger advance with U.S. equities dropping from records and dollar gains reducing the appeal of commodities like oil that are priced in the currency.
With crude starting the year strongly, Goldman Sachs Group Inc. said it expects Brent to reach $65 a barrel by the summer, sooner than previously anticipated. Last week, Saudi Arabia pledged deeper output cuts, a move that Goldman said will bring forward market tightness. The kingdom also increased its oil prices to Asia, and was followed by Iraq, Abu Dhabi and Kuwait. ....

New York , United States , Saudi Arabia , Peter Mcnally , Abu Dhabi , John Kilduff , Ole Hansen , Fatih Birol , Amro Bank , International Energy Agency , Goldman Sachs Group Inc , Saxo Bankas Oil , Bloomberg Oil , Bloomberg Television , Goldman Sachs Group , West Texas Intermediate , Again Capital , Bloomberg Technical , Saxo Bank , Texas Intermediate , New Yorkbrent , Deep Scar , Energy Industry , Saudi Crown Prince Mohammed , புதியது யார்க் , ஒன்றுபட்டது மாநிலங்களில் ,