Sep 17, 8:54 AM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury World By Danny McCord 09/17/19 AT 8:21 AM Oil prices fell Tuesday but held most of the previous day’s record gains that were fuelled by an attack on Saudi facilities that wiped out half the country’s crude output.Traders were nervously awaiting further US response after it said Iran was likely to blame. The crisis revived fears of a conflict in the tinderbox Gulf region and raised questions about the security of crude fields in the world’s top exporter Saudi Arabia as well as other producers.It has also taken attention away from the upcoming trade talks between China and the US, as well as a much-anticipated policy meeting of the Federal Reserve, which is expected to cut interest rates Wednesday.”Oil prices have settled in the wake of Monday’s 20-percent spike caused by a drone attack on a major Saudi Arabian refinery but (shares in) oil companies and utilities continue to trade higher,” noted Fiona Cincotta, senior market analyst at City Index trading group.Prices of Brent crude — the main international oil contract — rocketed by one-fifth at one stage on Monday before settling up 14.6 percent, which was a record one-day… Read full this story
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- Another record day for Dow
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- Consumer prices flat, industrial production dips
- Consumer prices jump as energy prices rise, but inflation stays tame
- S&P 500 moves past record close
- Strong qtr. for stox. Best July-Sept. showing for Dow in 11 yrs.
- Stock rally takes a break as slow economic growth seen
- Gas hits $3.60 a gallon, crude nears $120 on supply outages
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