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Oil and Commodities

19 July 11:45 PM Oil increases at Friday’s settlement   
Mubasher: Oil futures ended higher on Friday, falling 7.6% for the week.  
19 July 12:44 PM IEA rules out ‘huge increase’ in oil prices
Mubasher: The International Energy Agency dismissed the possibility of a significant rally in oil prices, citing a slowing demand growth and global market oversupply.
19 July 11:08 AM Oil jumps after US Navy hits Iranian drone
Mubasher: Oil prices climbed on Friday as tensions erupted again in the Middle East after a US Navy ship hit an Iranian drone.
19 July 12:09 AM Oil settles lower on Thursday  
Mubasher: Oil futures went down at Thursday’s settlement, as US natural gas inventories grew.
18 July 05:33 PM US natural gas inventories climb as prices rise
Mubasher: The US natural gas storage increased by 62 billion cubic feet in the week ended 12 July, to a total of 2,533 Bcf.
18 July 10:47 AM Oil falls on builds in US refined product stockpiles
Mubasher: Oil declined on Thursday, as official figures showing a sharp build in US inventories of products such as gasoline last week indicated weak demand.
17 July 10:38 PM Oil falls at Wednesday’s settlement
Mubasher: Oil futures settled lower on Wednesday, recording lowest level in two weeks, as US stockpiles went down.
17 July 05:36 PM US oil inventories fall 3.1m barrels; prices rise
Mubasher: US crude oil inventories fell by 3.1 million barrels to 455.9 million barrels in the week ended 12 July.
17 July 12:48 PM Oil climbs on industry group’s US crude inventory report
Mubasher: Oil prices rose on the back of industry data showing a less-than-expected decline in the US crude stockpiles.
16 July 11:53 PM Oil ends down on Tuesday
Mubasher: Oil futures fell at Tuesday’s finish, recording lowest level since 5 July, on reports about potential talks between US and Iran.
16 July 12:22 PM Oil declines early Tuesday as Mexico Gulf supply returns
Mubasher: Oil prices declined earlier on Tuesday, sustaining losses from the prior session, as supply from the Gulf of Mexico resumed following Hurricane Barry.
16 July 11:05 AM US shale oil output to add 49,000 bpd in August
Mubasher: Oil production from seven key US shale formations is set to rise by 49,000 next August, totalling 8.546 million barrels per day.
15 July 12:48 PM Oil trades lower early Monday on slower Chinese economic growth
Mubasher: Oil prices declined earlier on Monday after data indicated that Chinese economy grew at the slowest quarterly pace in decades, consolidating worries about demand.
12 July 11:52 PM Oil ends near stability on Friday
Mubasher: Oil futures inched up at Friday's settlement, rising 4.7% for the week.
12 July 04:19 PM Oil markets to see a surprise return to glut–IEA
Mubasher: Global oil inventories saw surprising build-ups during the first half of this year, as production cuts failed to prevent a market glut.
12 July 12:17 PM Oil near 6-week peaks on Mexico Gulf storm, ME tensions
Mubasher: Oil traded close to six-week peaks on Friday, as it was heading for a weekly gain.
12 July 12:59 AM Fallen demand prospects drag down oil at Thursday’s close  
​​​​​​​Mubasher: Oil futures went down at Thursday’s settlement, as OPEC lowered expectations regarding global demand on oil.
11 July 05:35 PM US natural gas inventories rise as prices climb
Mubasher: The US natural gas storage rose by 81 billion cubic feet (Bcf) in the week ended 5 July, totalling 2,471 Bcf.
11 July 05:07 PM OPEC output drops in June on Iran sanctions, supply cuts
Mubasher: Oil output from member states of the Organization of the Petroleum Exporting Countries dropped last June as US sanctions against Iran helped tighten supply.
11 July 11:43 AM Oil hovers above 6-week peak on Mexico Gulf storm preparations
Mubasher: Oil prices hit a six-week peak on Thursday as rigs in the Gulf of Mexico were evacuated ahead of a brewing storm.
10 July 11:21 PM Oil rises above $60 at Wednesday’s finish
Mubasher: Oil futures settled higher on Wednesday, marking highest finish in seven weeks.
10 July 05:37 PM US oil inventories fall 9.5m barrels; prices extends rally
Mubasher: US crude oil stockpiles fell by 9.5 million barrels to 459 million barrels in the week ended 5 July.
10 July 11:21 AM Oil climbs on US stockpile drawdown, expected Gulf storm
Mubasher: Oil prices climbed on Wednesday after industry figures indicating a more-than-expected drawdown in US crude stockpiles allayed worries about oversupply.
10 July 12:16 AM Oil ends higher on Tuesday
Mubasher: Oil futures settled higher on Tuesday, as a weekly decline in US crude supplies is likely.
9 July 10:13 AM Oil prices dip Tuesday on global trade conflicts
Mubasher: Oil prices eased on Tuesday as the US-China trade weighing on the global economy.