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Stock impact report

Oil at Two-Week Low as Equities Dip, Concerns Linger Over Shale [Bloomberg Business News]

CME Group Inc. - Class A (CME) 
Last cme group inc. - class a earnings: 4/29 07:00 am Check Earnings Report
US:NASDAQ Investor Relations: investor.cmegroup.com
Oil closed lower amid a selloff in equity markets and growing concern about increasing U.S. crude production. Futures dipped 1.1 percent to the lowest level in two weeks in New York on Thursday. Stock markets slumped after President Donald Trump said he’ll slap tariffs on steel and aluminum imports to protect national security. The tariffs may elevate the cost of new oil pipelines at a time of swelling domestic crude stockpiles and accelerating output by drillers. “You’re starting to see worries creep in about the effect of the possibility we’re going to impose more tariffs and then what that could do to trade and the global economy,” said Gene McGillian, a market research manager at Tradition Energy in Stamford, Connecticut. Rising U.S. crude production has “reawakened the worries that if we see the growth that we’re supposed to, we’ll see 11 million barrels a day by the end of the year.” The benchmark U.S. crude, West Texas Intermediate, has retreated Show less Read more
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