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OPEC, U.S. begin ‘cat and mouse’ oil game as producers pounce on hedges

LONDON/NEW YORK (Reuters) – As far as one of the world’s biggest commodities traders, Glencore’s chief Ivan Glasenberg, is concerned, the oil market will be at the mercy of “a cat and mouse game” between OPEC and its U.S. shale rivals in the coming year. A 16 percent price rally over the past week has delivered U.S. frackers a golden opportunity to hedge – or sell forward – their production for 2017 and beyond, to shore up their coffers against …

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OPEC, U.S. begin ‘cat and mouse’ oil game as producers pounce on hedges

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Crude prices fall from 2016 highs as U.S. oil rig count rises

Crude oil prices settled lower on Friday after the U.S rig count rose for the first time since December, renewing worries of a supply glut after an output freeze proposal helped boost the market to 2016 highs and multi-week gains. U.S. energy firms this week added one oil rig after 12 weeks of cuts, according to data by industry…

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Crude prices fall from 2016 highs as U.S. oil rig count rises

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U.S. crude oil prices dip after unexpected rise in stockpiles

Crude prices dipped in early Asian trading hours on Wednesday as U.S. stockpiles rose against expectations, compounding a glut that is seeing hundreds of thousands barrels of oil being produced every day in excess of demand. The increase …

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U.S. crude oil prices dip after unexpected rise in stockpiles