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Stockreport

Oil steadies above $70 after restored Libya supplies and trade tensions stoke volatility [CNBC]

COMCAST (CMCSA)  More Company Research Source: CNBC
Last comcast earnings: 4/25 06:17 am Check Earnings Report
US:NASDAQ Investor Relations: cmcsa.com/investors
PDF show chapters U.S. crude steadied above $70 a barrel after earlier extending Wednesday's sharp losses as Libya said it would resume oil exports. The announcement that Libya's National Oil Corp (NOC) would reopen four oil export terminals, ending a standoff that had shut down most of Libya's oil output, was a key catalyst for a dramatic sell-off on Wednesday, analysts said. The reopening will allow the return of up to 850,000 bpd of high-quality crude to international markets. U.S. light crude was down 15 cents at $70.23 a barrel by 2:22 p.m. ET, after touching a session high of $71.24. The contract fell 5 percent the previous session. Benchmark Brent crude oil was up 83 cents, or 1.1 percent, at $74.23 a barrel, off a session peak above $75. On Wednesday, Brent slumped $5.46, or 6.9 percent. Two Libyan oilfields will reopen, NOC and industry sources said on Thursday, easing supply concerns that have boosted the market. Focusing on bearish [Read more]

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