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Stockreport

Oil steadies above $70, rebounding after volatile session [CNBC]

COMCAST (CMCSA)  More Company Research Source: CNBC
Last comcast earnings: 7/26 07:00 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 and the market continued to monitor U.S.-China trade tensions. 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. Two Libyan oilfields will reopen, NOC and industry sources said on Thursday, easing supply concerns that have boosted the market. U.S. light crude ended Thursday's session down 5 cents at $70.33 a barrel, after touching a session high of $71.24 and a low of $69.23. 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 by 2:22 p.m. ET. On [Read more]

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