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Oil's Bounce From Worst Week in Two Years Capped by Shale Fears [Bloomberg Business News]

CME GROUP (CME)  More Company Research Source: Bloomberg Business News
Last cme group earnings: 4/26 07:00 am Check Earnings Report
US:NASDAQ Investor Relations: investor.cmegroup.com
PDF U.S. rigs jumped to 791 last week, highest in almost 3 years WTI rebounds to trade near $60 after tumbling 9.6% last week Extracted crude oil splashes on a worker's hand as it's being pours from a pipe in the village of Wonocolo, East Java, Indonesia, on Tuesday, Aug. 9, 2016. Photographer: Dimas Ardian While oil is rebounding from its biggest weekly decline in two years, gains are still being limited by concern over a resurgence in U.S. shale output. Futures in New York were up about 1 percent after tumbling 9.6 percent last week. Prices are near $60 a barrel after data showed last week that American drillers raised the number of rigs exploring for oil to the highest since April 2015. That’s raising fears that a gain in U.S. output will undermine OPEC’s efforts to clear a glut. Hedge funds scaled back bets on rising West Texas Intermediate crude by the most since August. L [Read more]

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