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Force Majeure

U.S. Crude Rises On Consumer Confidence

U.S. crude oil rose to near a six-week high on Friday, steered by stronger gasoline demand and a positive consumer confidence report, but gains were capped by profit taking and a declining demand outlook.The International Energy Agency lowered its global demand forecast for 2014 due to expectations that more Libyan crude will reach the market next week, pushing Brent prices lower.U.S. crude moved in tandem with U.S. gasoline prices, which surged early in the session due to government data released mid-week that showed a substantial draw on stockpiles, signaling robust demand before the start of summer driving season.Data showing U.S. consumer sentiment rose to a nine-month high in April also provided support, and pushed the American benchmark's price discount to Brent to its narrowest since mid-September.Brent's price slipped after Russia backed off threats it made Thursday to disrupt Ukraine's natural gas supply, and therefore Europe's, unless Kiev paid its bill. Russian President Vla...

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  1. Brent Crude Drifts Lower As China Slows

    Global crude oil drifted modestly lower on Thursday, pressured by weaker economic data from China as well as the prospect of a rebound in oil exports from Libya.Both...

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  7. Copper Hits 3-1/2 Yr Low On Credit Worries In China

    Copper hit its lowest level in more than 3-1/2 years on Wednesday on worries about growth and tighter credit in China, while aluminium sank as market data highlighte...

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